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McGinnis Venture Competition Unveils $375,000 in Prizes, Backed by David and Lindsay Morgenthaler Entrepreneurship and Innovation Fund and AWS

McGinnis Venture Competition Expands to $375,000 in Awards with Establishment of the David and Lindsay Morgenthaler Entrepreneurship and Innovation Fund

Pittsburgh, PA — February 27, 2026 — The Swartz Center for Entrepreneurship and the Tepper School of Business at ºÚÁÏÕýÄÜÁ¿ announced today the establishment of the David and Lindsay Morgenthaler Entrepreneurship and Innovation Fund, creating a new endowed $50,000 annual Morgenthaler Prize to support the ºÚÁÏÕýÄÜÁ¿’s flagship McGinnis Venture Competition.

This visionary commitment increases the competition’s total cash investment awards to $125,000 and contributes to an overall $375,000 prize package, which also includes $250,000 in Amazon Web Services (AWS) promotional  credits for winning teams. Credits will be distributed by AWS Activate, AWS’s flagship startup program, and will enable student entrepreneurs to transform bold ideas into reality, helping them offset upfront infrastructure costs to bring their ideas to life.

The newly endowed Morgenthaler Prize will be awarded annually to the competition’s first-place team, providing transformative early-stage capital at a critical moment in venture formation and growth. The endowment ensures that generations of Carnegie Mellon student entrepreneurs will benefit from the Morgenthalers’ enduring commitment to innovation and entrepreneurship.

“Morgenthaler Foundation is pleased to establish the David and Lindsay Morgenthaler Entrepreneurship and Innovation Fund to honor their legacy and to support the next generation of ºÚÁÏÕýÄÜÁ¿ entrepreneurs,” said Gary Morgenthaler, Partner at Morgenthaler Ventures.  “David Morgenthaler was a venture capital pioneer and the first National Venture Capital Association (NVCA) Lifetime Achievement Award Winner.  Lindsay Morgenthaler, a ºÚÁÏÕýÄÜÁ¿ graduate, was Lifetime Emeritus Trustee on ºÚÁÏÕýÄÜÁ¿’s Board of Trustees and led ºÚÁÏÕýÄÜÁ¿’s “The Highlands Circle” society of major donors.  Throughout life, they championed entrepreneurs, academic excellence and the spirit of innovation at ºÚÁÏÕýÄÜÁ¿ and nationally.”

The McGinnis Venture Competition, originally made possible through a generous endowment from Gerald E. McGinnis, brings together Carnegie Mellon undergraduate, graduate, and Ph.D. student entrepreneurs from across the university to compete for startup investment funding and to present their ventures before a distinguished panel of investors, alumni founders, and industry leaders.

David T. and Lindsay J. Morgenthaler were each longstanding champions of Carnegie Mellon and of entrepreneurial innovation more broadly. Lindsay Morgenthaler served for 25 years as a member of the University’s Board of Trustees and subsequently as a Lifetime Emeritus Trustee. “This gift is a testament to the Morgenthalers’ extraordinary leadership and sustained dedication to the University’s mission. Through this endowed fund, the Morgenthalers further strengthen Carnegie Mellon’s ability to cultivate bold ideas, accelerate commercialization, and empower the next generation of founders,” said Meredith Meyer Grelli, Managing & Interim Executive Director of the Swartz Center for Entrepreneurship and Tepper faculty member. 

In addition to the $125,000 in direct investment awards, competition winners will receive $250,000 in AWS Activate credits, AWS’s program dedicated to helping startups of all stages from around the world to build and scale with go-to-market support and technical expertise. AWS Activate credits can be used for eligible AWS services, including third-party foundation models on Amazon Bedrock.

“Through AWS Activate Credits, technical support and business mentorship, winning teams will be able to build, test, and scale their startups more rapidly and cost-effectively, leveraging the same technology that powers some of the world's fastest growing startups,” said Deap Ubhi, Director and Global Head of Startups Solution Architects at AWS. We are excited to participate in this initiative and help new generations of entrepreneurs build ideas on the AWS cloud and AI stack.

The 2026 McGinnis Venture Competition is the most competitive to date, with a 70% increase in entries over the prior year. The McGinnis Venture Competition has run in some form since 2003 with ~1,000 competing startups. The final round and Social Enterprise Prize Celebration will take place on March 17, 2026, from 2:00–6:30 p.m. in McConomy Auditorium and the Swartz Center for Entrepreneurship on Carnegie Mellon’s Pittsburgh campus. The program will include opening remarks from Pittsburgh Mayor Corey O’Connor, Allegheny County Executive Sara Innamorato, and U.S. Senator Dave McCormick.

Through initiatives such as the McGinnis Venture Competition — strengthened by the enduring philanthropy of leaders like the Morgenthaler family— Carnegie Mellon continues to advance its leadership at the intersection of technology, business, and entrepreneurship, equipping students with the capital, mentorship, and experiential learning opportunities necessary to launch high-impact ventures.

Learn more about the 2026 McGinnis Venture Competition 

for the final round and Social Enterprise Prize Celebration