Prize Money
First Prize= $4,000
Second Prize = $2,000
Third Prize = $1,000
Additional funding available after 6 months.
The Cangialosi Business Innovation Competition (CBIC) was established in 2014 by a generous pledge from Greg Cangialosi ’96. It is designed to attract the real entrepreneurs at UMBC, the ones who know they are going to start a company or social venture in the future. You’re the ones this entrepreneurship program was designed for! Are you ready to start living your dream?
Students are encouraged to enter ideas in either the Technology and Innovation track or the Social Impact track. Cash prizes up to $4,000 will be available to winners in both tracks!
ABOUT CBIC:
What is the CBIC?
The CBIC is an opportunity for UMBC students who are serious about starting a business or social impact venture in the future.
Who Should Participate?
Any currently enrolled UMBC student (full or part-time, graduate or undergraduate) with a dream of launching their own business soon.
Why Participate?
The CBIC will give you “real world” experience. You’ll be paired with a business mentor and you’ll get helpful feedback and guidance. You’ll also get connected to the local entrepreneurial ecosystem.
Winners also get:
- Membership at the bwTech UMBC Incubator
- Fundraising advice and Pitch practice with experienced entrepreneurs
Overview:
Stage 1:
To enter the first stage of the competition, complete the business plan template and candidacy application form. This business plan will be reviewed by a panel of qualified experts for quality of the business plan (e.g., feasibility, market opportunity, etc.) and the expressed level of interest and motivation the applicants have to actually build/launch a business.
Stage 2:
Candidates selected to proceed to Stage 2 will be notified. They will be paired with a business mentor to help polish their business plan. They will also be provided with additional coaching and introduced to UMBC resources and regional support programs.
Stage 3:
Individuals/teams that complete Stage 2 will be invited to present their business plans to a final panel of judges. The top winners in each track will receive up to $4,000. Additionally, they will be awarded with prize packages designed to support the launch of their business. Prizes could include business advisory services as affiliate members of bwTech or other local incubators, the opportunity to pitch their idea to the local angel investment community, free access to regional business support programming, and more. An additional $2,000 is available to the finalists after a 6-month review of their progress. The team that has made the most progress towards their venture will be the winner. We reserve the right to not award this additional amount if no progress has been made by any team in a given track.
| 2025 CBIC Winners | 2024 CBIC Winners | 2023 CBIC Winners
Quotes from Past CBIC Winners
Charles Nerad – Strike Sense (2025)
“The CBIC has been an incredible experience for my team and will prove invaluable to us as we move forward. We are deeply grateful for the advice and support we received from our mentor, peers, judges, and everyone else who guided us along the way. Their insights helped lay the groundwork for our future success. What stood out most was how genuinely invested everyone was in seeing us succeed which was felt throughout the entire competition. It’s an experience we’ll carry with us for years to come.”
Jada Iwuoha – Collegiate Commerce (2025)
“Participating in the CBIC is an experience I will never forget. This competition gave me the opportunity to share my vision for Collegiate Commerce and receive valuable feedback and support from a community that encourages innovation and curiosity. The encouragement my idea received has given me the motivation I needed to keep pushing forward to make a real difference for student entrepreneurs and the UMBC community as a whole.”
Harish Reddy Manyam, Bharadwaj Kalicheti, & Sricharan Nemalokonda – Real Vue (2025)
“Participating in CBIC has been a truly transformative experience for us. When we first submitted Real Vue, we hoped just to make it to the final round, and when we got there, everything changed. Working closely with our mentor, Chris White, pushed us to sharpen our vision and believe in the impact we could create. Winning first place in the Technology Track wasn’t just a milestone, but it gave us the confidence to take Real Vue from an idea to a real venture.”
Gbemisola Akinjo – Hairpreneurs (2024)
“I am so grateful to have been able to participate in this competition. The Alex Brown center and the CBIC really do foster a space for innovative minds and I am beyond appreciative of that. Everything I learned during this process offered such a different perspective of the world around me and I can honestly say that I had SO much fun the night of the competition.”
Hamza Umar – Sphere-Hub (2024)
“What an exhilarating experience! I was truly humbled to be selected as a finalist and even more to be chosen as 1st place. The CBIC has to be the best event at UMBC for aspiring entrepreneurs to present their business pitch – it was a great learning experience. It also serves as a great opportunity for us to get feedback from successful individuals in the industry, who have shown us that dreams can be fulfilled.”