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MV3 Foundation Wins Grand Prize Award in the Harvard Business School 2023 New Venture Competition

MV3 Team Members celebrating at the HBS New Venture Competition Finale

On March 30th 2023, Ashley Kyalwazi- our Founder/CEO, and Leonard Nettey- our COO/ Research Lead represented the MV3 Foundation at the live finale of The HBS New Venture Competition. Out of 57 teams across the Harvard graduate student community who entered the Social Enterprise track this year, the MV3 Foundation was named the Grand Prize Winner of the 2023 Harvard Business School New Venture Competition!

What is the New Venture Competition?

The HBS New Venture Competition is the largest, annual business plan competition for graduate students who are spearheading ventures at the leading edge of entrepreneurship and social impact. This is an extensive process which involves 3 separate rounds of competition: an initial application, a Semifinal Round presentation with Q&A in front of a live panel of judges, and a Final Round presentation with Q&A in front of a separate panel of judges. The pitches were vetted by over 300 judges who decided on 20 finalist - eight in the Student business Track and four in the Social Enterprise Track - out of 318 teams who entered the competition. As the Social Enterprise Track Grand Prize Winners, the MV3 Foundation has won $75,000 to support our efforts and launch us into new heights. Reflecting on the experience, Ashley Kyalwazi, MV3 Founder/CEO noted, "We are incredibly grateful to HBS and the Social Enterprise Initiative for the opportunity to share our vision, and progress, throughout this competition. This win reflects the collective drive and energy of over 100+ MV3 volunteers who work each day to empower our future Black leaders in health sciences."

MV3 Founder/CEO, Ashley Kyalwazi (left) and COO/Research Lead, Leonard Nettey (right) at the HBS New Venture Competition Finale

What is next for the MV3 Foundation?

MV3 is wrapping up the first year of the MV3 scholars program in which 68 scholars from across the country have received mentorship, professional development, academic aid, scholarships and more. Over the summer, our teams across the Foundation will review program data and implement changes that will allow us to more effectively meet the needs of our scholars. Excitingly, MV3 has recently hired a Director of Core Programs, Brittany McBride, who will join our team to catalyze the Foundation's ongoing growth. Brittany is a public health professional who brings to the Foundation over 12 years of experiences in program management. When asked why she joined the MV3 team she replied, "I truly believe that the incredible work that has already been accomplished can be amplified, and will change the face of medicine and ultimately create equitable access to health and wellness."

On April 19, 2023, MV3 officially launched the application process for the 2023-2024 MV3 Scholars Program with plans to support 100 Black undergraduate students in their pre-professional endeavors. Remarking on the upcoming second year of MV3 programming, Leonard Nettey said, "We have received overwhelmingly positive feedback on the Inaugural MV3 Scholars Program and we can't wait to welcome additional scholars who will continue to grow our community into a force for positive, impactful change." Ultimately, our mission is to empower thousands of Black students as they become leaders in health, medicine, and biomedical sciences.

We would like to give a special thank you to the Amgen Foundation and UnitedHealth Foundation for sponsoring the Inaugural MV3 Scholars Program. We share this milestone with each of our many supporters, and invite you to follow us on our social media platforms to stay up-to-date on MV3's impactful work.


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