The VT KnowledgeWorks Innovation Challenge is accepting applications through February 19, 2016. The Innovation Challenge is designed to accelerate innovative technology transfer from the university to the private sector.
The annual Innovation Challenge prize provides $100,000 worth of mentorship and business support services to a winning team of Virginia Tech faculty, staff, students and/or alumni proposing to establish a new venture in Blacksburg, Virginia, based on Virginia Tech-owned technology. Services are provided over a two-year period and include assistance in developing the overall business strategy as well as the presentations and plan documents needed for investor discussions and product launch. The venture receives complimentary membership in VT KnowledgeWorks for two years and key team members attend an Entrepreneurship Option workshop. In addition, the venture receives a 50% savings on one-year’s rent at the Virginia Tech Corporate Research Center.
A selection committee of successful regional entrepreneurs and investors will review the submissions and select the winner in mid-March. In addition, several runner-up applications may be selected for modest business development support. The winner will be announced at the VT KnowledgeWorks Global Entrepreneurship Challenge Semifinals on March 30, 2016, at The Inn at Virginia Tech.
Instructions and guidelines on how to apply are available at http://www.vtknowledgeworks.com/2016/innovationchallenge.
Previous Innovation Challenge winners and runners up include:
- VoltMed, employing irreversible electroporation technology for cancer and other treatments
- NanoSpin, developing efficient, passive liquid cooling for electronic devices
- Keraesthetics, developing keratin-based technology for both cosmetic and therapeutic applications
- P&P Coating, applying its superhydrophobic metallic coating technology to a variety of industries including automotive, chemical, and electronics
- phenoCHIP, developing circulating tumor cell separation technology
- Consolidated Logic, developing electronic design automation tools for programmable logic devices
VT KnowledgeWorks wants to thank our generous sponsors of the Innovation Challenge including Virginia Tech College of Agriculture & Life Sciences, Virginia Tech Office of the Vice President for Research, Virginia Tech’s Outreach & International Affairs, and Virginia Tech Pamplin College of Business.
For more information contact Jim Flowers, Executive Director of VT KnowledgeWorks, at 540-443-9100, extension 1 or at [email protected].
VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a subsidiary of the Virginia Tech Corporate Research Center, supported by the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters are in Blacksburg, Virginia, USA.
VT KnowledgeWorks Sponsors
Automation Creations, Inc., BAE Systems, BB&T, The Branch Group, Inc., Brown, Edwards & Company, LLP, CIT GAP Funds, City of Roanoke, Fox 21/27, G.J. Hopkins, Inc., Interactive Achievement, Inc., Meridium, Montgomery County, Virginia Economic Development Department, National Bank, New River Valley Intellectual Property Law, Plastics One Inc., Rackspace, Shentel, SimulTV, SunTrust Bank , TechLab, Third Security, Town of Blacksburg, Town of Christiansburg, Union Bank & Trust, UXB International, Inc., Virginia Tech Corporate Research Center, Virginia Tech’s Outreach and International Affairs, VPT, Inc, Wordsprint.