Applications Open for Sixth Annual Heartland Challenge

The sixth annual Heartland Challenge will gather student startup teams from across the world in Northwest Arkansas as they compete for a prize pool of nearly $100,000. 

Designed to simulate the process of raising venture capital for a high-growth enterprise, the Heartland Challenge has awarded over $580,000 in prize money since it was first held virtually in spring 2020.  

The competition is hosted again this year by the Sam M. Walton College of Business and overseen by the Office of Entrepreneurship and Innovation, with generous primary support from the Walton Family Charitable Support Foundation, our title sponsor. The presenting sponsor for 2025 is Arkansas Capital Corporation. 

"We are thrilled to host the Heartland Challenge again this year and continue providing a platform where the next generation of entrepreneurs can showcase their ideas, connect with industry experts and gain valuable feedback," said Deb Williams, senior director of student programs and operations for OEI.  

"This competition not only highlights the creativity and determination of student innovators but also celebrates the vibrant entrepreneurial ecosystem of Northwest Arkansas."   

Applications are open through 11:59 p.m. Friday, Jan. 17. Although the Heartland Challenge is primarily a graduate competition, applications from exceptional undergraduate teams will be considered. 

Twelve semi-finalists will be selected for the competition, which will be held April 3-5 at the Ledger in downtown Bentonville. 

The overall winner will collect $40,000. The second place team will receive $20,000; third place, $10,000; fourth place, $5,000; and fifth place, $2,000. First and second place winners in the elevator pitch competition — decided by an audience vote — win $3,000 and $2,000, respectively. Additionally, three teams will receive $3,000 each in the investor roundtable competition. 

"We're looking for startups that are student-created and -managed, from an accredited university and are seeking funding," said Maddy Stricklen, OEI's Heartland Challenge program manager. 

Beyond the prize pool, Stricklen noted the semi-finalist teams will also be able to connect with "our entrepreneurial community and experience the beauty of Northwest Arkansas." 

The Startup Expo will feature a public showcase of the competitors that is open to the public. The free event will be held at the Ledger, recently highlighted by Fast Company as one of the buildings that "redefined architecture." The expo will include appetizers and drinks, concluding with an audience vote for their favorite startup, with the winner receiving $5,000. 

Past Heartland Challenge winners include technology startups focused on storing digital data, the music industry and improving cancer detection, as well as a recycling-based building materials company. Last year's winner, Telo, is developing walking devices with integrated technology to better facilitate physical therapy. 

Telo's co-founders, Morgan Kerfeld and Steven Bleau, described winning the Heartland Challenge as "truly life-changing."  

"The feedback sessions we've got, we've never gotten anything like that before, and then the people we've met, the people that organized this, have all been so incredible," Bleau said.  

"Northwest Arkansas is truly unlike any other place in the nation," Kerfeld said. "During the competition, somebody commented how the area is a startup in itself, and there is no better way to describe it." 

About the U of A Office of Entrepreneurship and Innovation: The Office of Entrepreneurship and Innovation creates and curates innovation and entrepreneurship experiences for students across all disciplines. Through the Brewer Family Entrepreneurship Hub, McMillon Innovation Studio, Startup Village, and Greenhouse at the Bentonville Collaborative, OEI provides free workshops and programs — including social and corporate innovation design teams, venture internships, competitions and startup coaching. A unit of the Sam M. Walton College of Business and Division of Economic Development, OEI also offers on-demand support for students who will be innovators within existing organizations and entrepreneurs who start something new.