eSeed Challenge
About the eSeed Challenge
The eSeed Challenge is a premier funding track within the ASU Venture Devils program’s bi-annual Demo Day competitions. Since 2016, the eSeed Challenge, powered by the Prescott Student Venture Fund, has played a key role in the New American University’s design aspiration of valuing entrepreneurship and providing entrepreneurial experiences to all ASU students.
Managed by the Fulton Schools of Engineering, the eSeed Challenge enables students to win seed funding and an all-expenses paid innovation field trip to advance their entrepreneurial ventures. The eSeed Challenge is open to all ASU students who aim to prove or disprove that there is valid demand for a prototyped solution (product or service) beyond an initial beneficiary or customer.
Organized by the J. Orin Edson Entrepreneurship + Innovation Institute, the bi-annual Venture Devils Demo Day competitions, featuring the eSeed Challenge, aim to strategically develop early-stage student ventures that may be well suited to compete for and win other ASU, local, national, and global entrepreneurship competitions.
The eSeed Challenge also helps all supported ventures to develop repeatable and scalable business models, regardless of follow-on funding or support opportunities.
How it works
The eSeed Challenge features three highly competitive phases. In Phase One, 30+ eSeed Challenge student startups are awarded $1,000 or more during the bi-annual Venture Devils Demo Day competitions to validate or reject their key business model hypotheses.
In Phase Two, previous eSeed Challenge winners who are selected to compete during subsequent bi-annual Venture Devils Demo Day competitions will be considered for additional eSeed Accelerator grants of $5,000 or more to increase traction within their target markets.
Finally, in Phase Three, ASU’s top eSeed-funded venture founders, along with other ASU student entrepreneurs, are competitively selected to represent the University as ASU Tech Devils, also known as Prescott Fellows.
These select founders receive an exclusive invitation to participate in an all-expenses-paid innovation retreat, hosted by Mr. Tom Prescott, the eSeed Challenge’s lead benefactor, to Silicon Valley each Spring.
Mr. Tom Prescott, an ASU Engineering alumnus, believes that all ASU students can become impactful innovators. Mr. Prescott has catalyzed and sustains the eSeed Challenge, as well as several ancillary ASU venture development initiatives, with generous annual gifts to the Ira A. Fulton Schools of Engineering to support early-stage student ventures.
Mr. Prescott has served as Chairman of the Board of PROCEPT BioRobotics, a commercial-stage surgical robotics company focused on advancing patient care by developing transformative solutions in urology, since July 2024. Prior to joining the PROCEPT BioRobotics Board, Mr. Prescott was President and Chief Executive Officer of Align Technology, Inc. from March 2002 to June 2015, and as a member of its Board of Directors from March 2002 to May 2021.
Prior to Align, Mr. Prescott was President and Chief Executive Officer of Cardiac Pathways, Inc. from May 1999 to August 2001 and a consultant for Boston Scientific Corporation from August 2001 to January 2002 after its acquisition of Cardiac Pathways in August 2001. Prior to Cardiac Pathways, Mr. Prescott held various sales, general management and executive roles at Nellcor Puritan Bennett, Inc. from April 1994 to May 1999, and various management positions at GE Medical Systems from October 1987 to April 1994. In addition, Mr. Prescott served in sales, marketing and management roles at Siemens AG from December 1980 to July 1986.
Mr. Prescott also serves on the Board of Directors of a private company. Mr. Prescott also served as a board member for The Navy SEAL Foundation, and a trustee at The Naval Postgraduate School Foundation. He received his B.S. in Civil Engineering from Arizona State University and Masters in Management from Northwestern University.
Don’t miss this opportunity
Apply to Venture Devils to be considered for the next eSeed Challenge.