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Nominate a Company for CNBC's 2024 Disruptor 50 List

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Nominate a Company for CNBC's 2024 Disruptor 50 List

CNBC is currently accepting nominations for the 2024 Disruptor 50 list, an annual compilation that recognizes the most innovative venture-backed companies utilizing breakthrough technology to tackle evolving economic and consumer challenges. The deadline for submissions is Friday, February 16, 11:59 pm EST.

Eligibility and Challenging Environment

All independent, privately-owned companies founded after January 1, 2009, are eligible for nomination. However, companies named in the previous Disruptor 50 list continue to face a challenging environment as we approach 2024. High interest rates have tightened the supply of venture capital, resulting in a mostly closed IPO window for venture-backed startups for the second consecutive year. Notably, Instacart, a past Disruptor 50 company, struggled to maintain its IPO pricing.

Trends in Venture Capital and Business Formation

The third quarter of the previous year witnessed the lowest venture deals in the past six years, with U.S. venture capital fundraising on track to reach a nine-year low in 2023. Additionally, "down rounds," where companies raise funds at a lower valuation compared to previous funding rounds, have reached a ten-year high. Despite these challenges, entrepreneurs remain undeterred, as business formation is projected to set a new record in 2023, surpassing the previous milestone set in 2021. The surge in new businesses following the Covid-19 pandemic is expected to contribute to the growing number of companies making their way into the Disruptor 50 list.

Criteria and Evaluation Process

Nominees will undergo a comprehensive evaluation process based on a wide range of quantitative and qualitative criteria. These include scalability, revenue and user growth, utilization of breakthrough technology, and workforce diversity. An advisory board comprising influential experts in innovation and entrepreneurship will provide input on the quantitative criteria, while CNBC's editorial team will review submissions and offer qualitative assessments for each nominee. Successful honorees for 2024 will be notified in April, and the list will be unveiled in May across CNBC's television and digital platforms. Additionally, CNBC offers a weekly newsletter that delves beyond the Disruptor 50 list, providing deeper insights into previous list-making companies and the visionary founders driving innovation.

2024 Disruptor 50 List: Implications for New Business Formations

The upcoming 2024 Disruptor 50 list by CNBC, which recognizes innovative venture-backed companies, could significantly impact the landscape for new business formations. Despite a challenging environment characterized by high interest rates and a mostly closed IPO window, new businesses continue to emerge, undeterred by these obstacles.

Understanding the Venture Capital Landscape

The current venture capital landscape, marked by the lowest venture deals in the past six years and a projected nine-year low in U.S. venture capital fundraising, presents a challenging environment for startups. However, the resilience of entrepreneurs is evident, with business formation on track to set a new record in 2023. This surge in new businesses, particularly following the Covid-19 pandemic, indicates a robust entrepreneurial spirit that could lead to more companies entering the Disruptor 50 list.
Criteria for Disruption and Innovation
The criteria for the Disruptor 50 list, including scalability, revenue and user growth, utilization of breakthrough technology, and workforce diversity, provide a roadmap for new businesses. These factors, evaluated by an advisory board of innovation and entrepreneurship experts and CNBC's editorial team, highlight the key areas that new businesses should focus on to achieve disruption and innovation.

Future of Business Innovation

The anticipation of the 2024 Disruptor 50 list underscores the ongoing importance of innovation in business. Despite the current challenges, the entrepreneurial spirit remains strong, with new businesses poised to disrupt the market and drive innovation. The unfolding story of the Disruptor 50 nominations offers valuable insights for new businesses navigating the complex landscape of innovation and disruption.
Story First Published at: https://www.cnbc.com/2023/12/07/2024-cnbc-disruptor-50-list-nominations.html
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