This second podcast in the series serves as an introduction to the McCloskey New Venture Competition which is the signature event in the innovation ecosystem at Notre Dame. It serves as a real-world opportunity to test the validity of ideas and innovations and develop skills directly transferable to the commercial market.

#BoldFail is also a celebration of strategic failure. No successful startup or entrepreneur goes from success to success. All experience multiple challenges and failures along the way. Failure by itself is neutral, neither good nor bad. The question is: what did we learn from it? Failure in operations and failure that results from complexity can be prevented with proper processes, oversight and care. But failure that comes from pushing beyond boundaries is a commendable, necessary step because it breaks new ground on the path to discovery. #BoldFail is a celebration of the mindset that sees the future, seizes opportunity and embraces failure as a routine step toward success, a chance to persevere or pivot rather than quit.