Velocity $100k Challenge

Do you see an opportunity or a problem that needs solving?

If you’ve got an idea, Velocity wants to hear from you! The $100k Challenge is Velocity’s flagship competition, designed to turn first-class ideas into world-class businesses.

The challenge invites students and staff from all faculties and research centres at Waipapa Taumata Rau, the University of Auckland, to submit a business proposal showcasing how their idea could become a successful venture. A panel of judges will assess the entries and select the ones ready to fly.

CIE’s programmes are free for University of Auckland students and staff. These co-curricular programmes help develop innovation and entrepreneurship skills alongside formal studies. While there are no formal assessments, participation may count towards the co-curricular recognition programme and the Distinguished Graduate Award.

Address pressing challenges: Make a positive impact on the world.
Build a team: Bring your idea to life with the right people.
Connect with Aotearoa’s start-up ecosystem: Network with investors and funding sources.
Win generous seed capital: Secure funding to launch your venture.
Access the Venture Lab incubator: Get further support to grow your idea.
Receive expert feedback: Learn from experienced entrepreneurs and investors.
Support from CIE and Velocity: Gain access to networking events, drop-in sessions, and expert advice.

Gain hands-on problem-solving experience and develop transferable skills in:

Problem identification and validation: Define and validate your challenge.
Solution development and feasibility: Turn your idea into a viable concept.
Market analysis and positioning: Understand your audience and competitors.
Business modeling and strategy: Develop a roadmap for success.
Pitching skills: Learn how to communicate and sell your idea.

First place

$25,000 seed capital + VentureLab incubator programme, valued at $15,000

Runner-up

$15,000 seed capital + VentureLab incubator programme, valued at $15,000

Third place winners (x3)

$5,000 seed capital + VentureLab incubator programme, valued at $15,000

• Entries open – Monday 4 August 2025
• Entries close – Monday 22 September 2025 12 noon

How do I start?

Not sure where to start?

1. Read the entry template
   It will guide you on team-building, strategy, the lean business model canvas and many other aspects necessary for a solid $100k Challenge entry.
2. Come and learn from our events
   1. $100k Challenge workshop
   2. $100k Challenge networking night
3. Submit your $100k Challenge entry!

Lean canvas

The lean canvas is a one-page business model template to help you organise your ideas. Please note that any business model canvas can be used.

Discord channel

Velocity has a Discord channel where teams looking for more members advertise for positions. We also recommend asking friends, classmates and workmates if they would like to join your team.

Sign in to the $100k Discord channel

$100k Challenge Workshop

Do you want advice from experts about your idea for the Velocity $100k Challenge? This is your opportunity!

$100k Challenge networking night

Come meet potential team members to join you on your $100k Challenge journey! Whether you have an idea or are looking to join a team, come along to $100k Challenge networking night!

$100k Challenge for researchers

Learn how Velocity could help you create more impact with your research, whether it be commercial or social and hear from past researchers who participated in the $100k Challenge as they share their experiences starting a venture.

Drop-in sessions

Have a question about the $100k Challenge? Need some feedback on your idea? We’ve introduced drop-in sessions where our friendly committee members will be there to help out!

We will host drop-in sessions in the weeks leading up to the submission date, so stay tuned for updates!

Applications close at 12 noon on Monday 22 September.

Create an entry in the form of a business proposal to show how your idea could become a venture. You will receive mentoring and workshops to discover how to translate your idea into reality, and a panel of judges will then decide the ideas displaying the potential to fly.

If you have questions about the programme, please contact cie_programmes@auckland.ac.nz