Best ideas sought for second annual Innovation Challenge presented by Fifth Third Bank
Trine University’s Innovation One is offering the Innovation Challenge to find the best ideas and concepts for business and technology. A panel of judges will select finalists who will present their ideas in April. Winners will be publicly announced.
In 2013, Fifth Third Bank, Greater Indiana, began supporting the five-year challenge with a $100,000 gift for awards and scholarships. The contest, which debuted in 2014, is open to residents and students in Indiana, Michigan and Ohio.
For the technology category, participants are encouraged to think about technological inventions or advances while entries in the business category should focus on a new business idea or service. Cash prizes will be awarded for first through third place in each category. First place is worth $2,500, with $1,000 for second and $500 for third. Prizes will also be given for Best High School Entry, Best University Entry and Best Community Entry. Cash prizes are unrestricted so winners may use the money to advance their idea or spend it another way.
“Life is moving at the pace of creativity, there are so many fresh ideas that are being developed right now that there are no limits to what we might see at this year’s Innovation Challenge,” said Jason Blume, executive director of Innovation One. “The Innovation Challenge is a great opportunity for entrepreneurs and inventors to get feedback and gain exposure for their ideas.”
“Small business and entrepreneurs represent the backbone of our economy,” said Steven Alonso, president and CEO of Fifth Third Greater Indiana. “We’re proud to support this competition because it encourages new ways of thinking and doing business, both of which are important to growing our economy and strengthening our communities.”
It’s free to enter the Innovation Challenge and there are no age restrictions. So, don’t delay, get those ideas in today by completing an application and submitting it by March 1. A competition open house is set for April 11 and winners will be announced that day. To get an application or for more information, visit www.innovation1.org, call 260.665.4265 or email firstname.lastname@example.org.
Innovation One, housed in Trine’s new Jim and Joan Bock Center for Innovation and Biomedical Engineering, is a venture that brings ideas to market by providing expertise and services to help promote economic growth in Northeast Indiana and the region. It offers a range of services that enables students from every area of study to get involved. Among the services offered are engineering consulting, prototyping, research and development, testing and assessment, and market research. For more information about Trine’s Innovation One, visit Innovation1.org.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $134 billion in assets and operates 15 affiliates with 1,308 full-service Banking Centers, including 102 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,639 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 22.8 percent interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2014, had $303 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Fifth Third Bank was established in 1858. Member FDIC. Subject to credit review and approval.