The Kellogg Real Estate Venture Competition invites applications from any business school worldwide. Each school may select ONE team to apply to participate in the competition. The team must have no more than six members. All members of the team must be graduate students, with at least one member of the team earning a business degree. All team members for a particular school must currently attend that school.
Each team applying must have a faculty advisor. The role of the faculty advisor is two-fold:
a. To acknowledge and approve of the team’s participation in the competition on behalf of the school and to confirm that all team members are currently enrolled as graduate students; and
b. To review the team’s business plan and provide support as the team readies its presentation; students will present to an investment committee comprised of professional investors.
Teams shall create a three-page executive summary of the real estate venture, highlighting the qualifications of team members, the idea, the investment sought, and the associated risk and reward. No venture should require less than $1 million in equity or more than $10 million in equity. Equity shall be used for the purchase of physical real estate or to fund a technology or service in the real estate sector. Teams should email their executive summary (in pdf), the names and contact information of team members and the faculty advisor, along with a resume and high-resolution photo of each team member to The deadline to apply will be 5:00 pm CST on March 20, 2015. 
The teams with the most compelling ideas will be invited to compete in the Kellogg Real Estate Venture Competition. These teams will be notified on or before March 27, 2015. Proposed ventures will be judged on their originality, feasibility, and attractiveness for investment.
Teams selected to compete in Chicago must submit the following to by 5:00 pm CST on April 20, 2015:
a. A final three-page executive summary in pdf format.
b. A presentation file outlining the venture plan in PowerPoint format, which must include the desired terms of the proposed venture (i.e., fees, economic splits, and, if appropriate, company valuation and ownership being offered to investors).
c. A two-page financial summary in pdf format.
d. An Excel-based financial model that is formatted to print no more than 10 pages.
No changes to a team’s materials will be allowed after the due date. 
The competition will be held on April 27, 2015 on the Chicago campus of Northwestern University. Presentation order of competing teams will be determined randomly. Each team at the competition will be allocated 25 minutes to present its venture idea. Judges will be free to interrupt presentations at any time, thus it is suggested that teams prepare presentations designed for no longer than 15 minutes. Time limits will be strictly enforced.
The competition is intended to act as, or simulate, the real-world process of real estate entrepreneurs soliciting equity funds from private equity investors and angels. The judges function as the investors deciding on which venture they will, or would most likely, fund. The quality of the idea, feasibility, risk and return characteristics, strength of the management team, and clarity and persuasiveness of the oral presentation and written plan are the key criteria being judged. The teams will initially present to a preliminary investment committee. If this committee selects a team venture as a finalist, these final teams will present to the panel of judges.
A panel of judges will determine the team that is the winner of the Kellogg Real Estate Venture Competition. The winning team will receive $100,000 in cash and prizes. The decision of the judges is final. Cash awards to each member of the winning team will be distributed via USPS after the competition. Tax information, including ID and Social Security Number and/or foreign citizenship information, will be required from each individual prior to cash distribution. Cash awards are considered taxable income by federal law.
The Kellogg Real Estate Venture Competition judges and their firms collectively have more than $10 billion of equity capital to invest in real estate projects and ventures. Judges may, at their own discretion, decide to fund none, any, or all of the ventures presented at the competition. Winning the Kellogg Real Estate Venture Competition does not guarantee funding, and ventures that do not win the competition may receive offers of funding.
Business dress is required on the day of the competition.
All travel expenses, including hotel, meals, airline, and ground transportation, are the sole responsibility of each team and/or sponsoring school.