First round of student innovation and business plan competition set for Dec. 5

The first round of this year’s Technology Innovation Challenge, a student innovation and business plan competition, will take place on Tuesday, Dec. 5 from 4:30-5:30 p.m. in 163C Campus Center.

During the Executive Summary and Elevator Pitch Competition interdisciplinary student teams will present two-minute “elevator pitch” executive summaries of their business plan proposals to a panel of judges. The winning team will receive $5,000 toward the development of its plan.

The Executive Summary and Elevator Pitch Competition is a prelude to the Technology Innovation Challenge’s culminating competition in May, in which the winning student team will receive $45,000 for its business plan toward its subsequent enactment. The student competition promotes innovation education based on technology conceived by Amherst campus faculty, students and alumni. Limited to technology-based businesses and business concepts, the competition encourages interdisciplinary student teams in business, science, and engineering to pursue commercial applications of their work.

In the competition, each student team conceptualizes a product, based on its scientific and technological design and then creates a business plan for the product’s commercialization. The competition’s judges include entrepreneurs, legal experts and consultants.

For the Executive Summary and Elevator Pitch Competition, prospective teams must submit an online Intent to Compete form by 5 p.m. on Nov. 17. They must submit their Executive Summaries by Nov. 27 at 5 p.m.

The Executive Summary and Elevator Pitch Competition is open to the public.