INDIANAPOLIS — IUPUI students will have less time than it takes to sing a hit song to pitch their innovative ideas for startups, products or social ventures during next week’s pitch competition.
The Indiana University-Purdue University Indianapolis Office of the Vice Chancellor for Research, in partnership with the Center for Research and Learning, will host the fourth annual Ideas Solving Social and Economic Challenges Idea Competition. The event will take place from 11 a.m. to 1 p.m. Friday, March 6, in the Lilly Auditorium at the IUPUI University Library, 755 W. Michigan St.
The Ideas Solving Social and Economic Challenges Idea Competition was established to encourage IUPUI students, working as individuals or in teams, to propose new products and/or ventures, within both for profit or nonprofit sectors. It is designed to encourage and reward innovative “ideation” from students.
A panel of judges from the business community will hear from 15 finalists, who will have three minutes to present their concept or solution in an “elevator pitch” format — without the benefit of slides or other props. This time constraint challenges the students to present themselves, and their idea, in a concise and persuasive manner, a skill they will find invaluable in their professional lives and as future innovators and entrepreneurs.
The objective of each pitch is to convince the judges that this is an absolutely incredible venture or opportunity. The students with the most innovative ideas as determined by the panel of judges will be awarded cash prizes of $500 to $2,500. Audience members will also have a chance to cast a ballot for their own favorite idea in an “Audience Choice” category, which will award a prize of $1,000.
Past finalists have pitched ideas for a wide range of potential new products and proposed startups or social ventures. This year’s finalists will represent ideas including a product to support neonatal thermoregulation, a secure and effective means of public and personal motorcycle storage, a professional networking organization for local musicians, and more.
Community supporters Sojane Technologies, The Smile Center dental practice of Dr. Jyoti Shah and Elevate Ventures are co-sponsoring the competition.
The competition is free and open to the public. Registration is available online.