Innovation Challenge FAQ

 

What is the Innovation Challenge?

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The Innovation Challenge is a competition that brings together UCLA students from all disciplines and backgrounds to collaborate to find technology-based solutions to complex societal problems. This year, we will be focusing on two areas: health care and sustainability.

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What are the prizes?

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The competition will award $100,000 in total prize money ($50,000 to sustainability and $50,000 to health care) to the top three teams in each track

  • First place: $25,000
  • Second place: $15,000
  • Third place: $10,000
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Who is eligible for the competition?

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All UCLA students are eligible. Each team must have three to five UCLA students, with at least one MBA student and one non-MBA student.

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How is the competition structured?

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Innovation Challenge Competition Timeline

  • Each team will submit a business plan for qualifying review.
  • The judges will review and score each plan. The highest-scoring teams will advance to the final round.
  • Before the final round, the teams will have access to a network of mentors to help them refine their business plans.
  • In the final round, each team will have 15 minutes to pitch its idea to the judges.
  • After all the teams have presented, the judges will deliberate and decide on three winners in each track.
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Workshops and Events

 

Where can I get more information about workshops and events?

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You can learn more about Innovation Challenge events on our website, via email by signing up to our mailing list or by joining the Innovation Challenge Slack.

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What type of workshop/events will be offered?

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A wide spectrum of workshops will be offered, such as forming a successful team, enterprise and design, developing a business plan, storytelling and understanding sustainability and health care industries.

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Who can attend the workshops?

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Workshops are open to all students.

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Teams

 

How do I find a team or team members?

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Registration, Qualifying Review, and Competition

 

Important Dates

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  • Registration Deadline: Friday, February 5, 2021
  • Business Plan Submission Deadline: Friday, February 19, 2021
  • Sustainability Final Round: 4/23/2021
  • Healthcare Final Round: 4/30/2021
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How will teams be evaluated?

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Teams will be evaluated based on the following four criteria:

  • Impact: Combined depth and breadth of value created both for firm and society. The team fully explains its structured thought process for identifying market need and societal value add. 
  • Innovation: The solution is original, powerful, and differentiated from others. The team conveys evidence using research and demonstrates what makes its solution innovative.
  • Feasibility: The solution has a clear pathway to execution. The team has defined concrete next steps to implement the solution and provides ample evidence to prove the solution’s feasibility.
  • Persuasion: Clear and compelling written and oral presentations. The team demonstrates vision, passion, and operating credibility to make the venture successful.
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Who can participate in the mentoring/advising program?

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Finalist teams advancing to the final round will have an opportunity to meet with industry mentors/advisors to refine their business plans and final pitches. Find the list of participating advisors here

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Who will be the mentors/advisors?

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Advisors will be drawn from venture capitalists, angel investors, faculty, business executives, entrepreneurs and subject matter experts in healthcare and sustainability. Find the list of participating advisors here

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Who will be the judges for the final round?

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A panel of judges will be drawn from venture capitalists, angel investors, faculty, business executives, entrepreneurs and subject matter experts in health care and sustainability.

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Do all team members need to present during the final round?

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All members of the presenting team must be present during the presentation, but not all are required to present.

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Final Round Presentation Timing:

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  • Presentation: 15 minutes maximum
  • Q&A with judges: 10 minutes maximum

The time limit for each presentation will be strictly adhered to (a warning will be given when five minutes remain). Any leftover time will be utilized as the judging panel sees fit.

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Intellectual Property

 

What is UCLA's IP policy?

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For more information on UCLA’s IP policies, please visit this page .

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