Universities from eight states are expected to compete next month in the 2021 Heartland Challenge hosted by Sam Walton College of Business at the University of Arkansas at Fayetteville.
A dozen teams will participate in the graduate student startup competition, with 11 semifinal teams already selected. The 12th spot goes to the winner of the scalable venture track from the Arkansas Governor's Cup competition held in early April, according to a Friday news release.
Three of the selected teams are from the University of Arkansas, with others coming from California, New York and even Singapore. The completion simulates raising venture capital and is held across three rounds that include an elevator pitch and a 15-minute investment pitch. There is a cash prize pool of $95,000.
The event will be held April 15-16 and has been supported by the Walton Family Foundation starting in 2020.