CHICAGO (CBS) — We now know who won the University of Chicago’s New Venture Challenge.

It’s a competition for budding entrepreneurs that CBS 2’s Jim Williams told you about earlier this week.

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The grad students vie for money to start their businesses. This year’s winning teams got a record $1.5  in investments.

First place goes to Andes STR which helps people manage rental properties. Their prize: $660,000.

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CBS 2 Chicago Staff