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 ventures.

The $100k Challenge invites students and staff from all faculties and research centres at Waipapa Taumata Rau, the University of Auckland, to submit a business proposal outlining 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 people who can offer advice, support and inspiration.
Win generous seed capital: Secure funding to launch your venture.
Access the Venture Lab incubator: Get further guidance and support to grow your venture.
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

$30,000 seed capital + invitation to the Venture Lab incubator programme

Second place

$20,000 seed capital + invitation to the Venture Lab incubator programme

Third place

$10,000 seed capital + invitation to the Venture Lab incubator programme

• Entries open – Tuesday 30 June 2026
• Entries close – Monday 10 August 2026 at 12pm noon

Entries for the 2026 Velocity $100k Challenge are now closed.

Entry Form, Criteria and Rules

Before you submit your entry, please take some time to familiarise yourself with the following documents:

• The Entry Form, which outlines all the information you will need to
  provide
• The Judging Criteria, which our judges will use to assess your entry
• The Challenge Rules and conditions

These resources are designed to help you prepare a strong submission and
understand what to expect throughout the process. Links to each document are provided below.

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

Save the date! Join us and celebrate as we announce the winning teams of the $100k Challenge 2026!

We’re delighted to welcome Matty Blomfield, founder and CEO of Hectre, as our keynote speaker for the evening.

About our guest speaker

Matty Blomfield (Ngāti Hine, Ngāti Kahungunu) is the founder and CEO of Hectre, the New Zealand agritech company behind Arc, an AI platform that uses computer vision to grade and understand fruit quality at speed. Arc is now used by fruit packhouses across the US, Latin America, Europe and beyond, turning one of the oldest industries on earth into a data problem worth solving. Under Matty's leadership Hectre has grown from a small Kiwi team into a global business and was named both Agritech Company of the Year and Te Ao Māori Company of the Year at the NZ Hi-Tech Awards. Born in Invercargill, fourth time founder, improvisor and dad, Matty has a relentless bias for action, builds at the intersection of technology, commercial ambition, and te ao Māori.

Date: Wednesday 21 October 6-8:30pm
Location: OGGB 4

The Centre for Innovation and Entrepreneurship provides a world of opportunity to participants so that they can stand-out and create value through innovative careers and start-up creation.

CIE is New Zealand’s leading University entrepreneurship centre, winning 15 international awards since 2020.