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 10 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
  • Track 1 Final Round: TBA
  • Track 2 Final Round: TBA
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How will teams be evaluated?

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Teams will be evaluated based on the following four criteria:

  • Technology: The team incorporates technology as a core component of the proposed solution and exhibits full understanding of its potential impact, readiness and applicability.  
  • Innovation: The solution is innovative with respect to its reliance on existing ideas, processes and/or products. The team must convey evidence using research and demonstrate what makes its solution innovative. 
  • Feasibility: The solution is realistic. The team has defined concrete next steps to implement the solution. The team provides well-defined next steps and ample evidence to prove the solution’s feasibility. 
  • Impact: The solution alludes to societal value. The team must explain its thought process for identifying market need and societal value add. 
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Who will be the mentors?

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Mentors 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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Intellectual Property

 

How do I find a team or team members?

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

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