BOULDER – The University of Colorado Boulder’s top student and faculty startups will pitch their business ideas to a panel of judges and a live audience Wednesday night at the 16th annual New Venture Challenge.

Competitors at the event, from 6 to 9 p.m. at the Boulder Theater, 2032 14th St., will vie for more than $100,000 in funding.

Since its inception in 2009, the New Venture Challenge program and competitions, run out of the Innovation & Entrepreneurship Initiative, have been known as CU Boulder’s entrepreneurial “flight simulator.” The program gives aspiring entrepreneurs from across the university a chance to build a startup through entrepreneurial events and programming, community support, mentorship and, ultimately, funding.

The event is open to the public and is free with registration, although the availability of registration at the door is not guaranteed. Doors and a cash bar will open at 5 p.m.