For more than two decades, the New Venture Challenge at the University of Chicago Booth School of Business has served as an innovation hub for startups and entrepreneurs. On Wednesday, a dozen teams will pitch their business plans for a chance of at least $1 million in investment during the 25th anniversary finals.

Reset brings on a co-founder of the annual competition and an alumni company to discuss Chicago Booth’s legacy of supporting startups and what makes the New Venture Challenge distinctive from other university-based accelerator programs.

GUESTS: Steve Kaplan, co-founder of the New Venture Challenge; Booth professor of entrepreneurship and finance; faculty director of the Polsky Center

Katlin Smith, founder and CEO of Simple Mills