Taelor, men's rental clothing start-up competing for $100K-prize

CHICAGO (WLS) -- A local fashion start up is competing for a $100,000 prize.

Taelor allows men to rent their clothes instead of buying them to help save time and the environment.

"Our goal is to provide individuals with stylish, everyday menswear. We believe that every day is an opportunity to look good and feel confident," said Cheng, founder and CEO of Taelor, who also teaches at Northwestern's Medill School of Journalism and Integrated Marketing Communications.

The Alumni New Venture Challenge is a competition for University of Chicago alumni to showcase their early-stage ventures.

Taelor will be competing against start-ups from six other regions of the world in the final competition on May 6.

People can watch the competition live at polsky.uchicago.edu/livestreams.