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CSULB Innovation Challenge

CSULB Innovation Challenge. Overview Briefing August 2014. Eric Schwartz CSULB Innovation Challenge Advisory Board Member. What is the Innovation Challenge?. A learning environment and annual competition for CSULB students

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CSULB Innovation Challenge

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  1. CSULB Innovation Challenge Overview Briefing August 2014 Eric Schwartz CSULB Innovation Challenge Advisory Board Member

  2. What is the Innovation Challenge? • A learning environment and annual competition for CSULB students • Teams develop, promote and launch entrepreneurial business ideas • Students learn how to create business plans • Reward the best team/plan (annually) with business-related services and seed funding

  3. CSULB Innovation Challenge Build a team! You have an idea! Review with mentors and support team Present to Investors and Judges (Final 4 teams) Winning team receives start-up resources and seed funding Develop your business plan

  4. Innovation Challenge Video

  5. Final Competition and Awards • The Final Four teams present to a panel of judges in a public forum. All receive gift cards and certificates. • The winning team receives business support resources such as; office and/or lab space on campus, professional services e.g. legal, accounting, tax, intellectual property, on-going advisory support and $10,000 in seed funding to help launch their business. • Past Winners (2011, 2012, 2013, 2014) Electric Bikes Sliding Doors Textbook Exchange Medical Diagnostics

  6. How do Students get Started? • Form a team and submit a Letter of Intent (LOI) (by 12/9/14). The sooner students submit an LOI, the sooner a mentor is assigned to the team • Submit business plan by February 27, 2015 • Visit the website to learn more: • http://www.csulb.edu/innovationchallenge • Visit the Innovation Challenge Office • EN2, 3rd Floor, Room 300-D • Tues and Wed, 11:00am – 1:00pm • Starting Sept 16th

  7. Help Needed Help get the message out to students, encourage participation Mention/promote in classes, labs, club meetings, etc Could be part of a senior-level class project Teams come from all colleges and majors Attend the final competition/awards event on April 9, 2015

  8. Back-Up

  9. CSULB Innovation ChallengeSchedule (2014 - 2015)

  10. What Do Students Get Out of It? • An environment to develop business ideas • Learn to form and work on a multi-disciplinary team • Advice and networking with a business professional who is a mentor to the team • An opportunity to learn how to be an entrepreneur • Develop experience and knowledge in starting a business, intellectual property, financial plans, etc. • Resources and financial support ($K)

  11. Example Past Innovation Challenge Business Ideas Improved medical testing device Specialized garments Electric bike Bicycle security components Sliding Doors Water Management System Automated beverage service Tea-based beverages Automated geo-information Textbook exchange

  12. Student Participation By College • 2014 increase in CBA, CotA, and other colleges participation • Need to promote additional participation from across CSULB LOI’s = Letters of Intent

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