AMHERST, Mass. - The UMass Innovation Challenge, a launching pad for aspiring student entrepreneurs to cultivate original ideas for the marketplace, is holding its executive summary and elevator pitch competition Wednesday, Dec. 7, at 3:30 p.m. on the 10th floor of the Campus Center at the University of Massachusetts Amherst. This is the second of three public events during the academic year-long competition and features 11 teams who will be presenting their new ventures. At stake is $10,000 in prize money. The event is free and open to the public.