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
• 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
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CSULB Innovation Challenge
Build a team!
You have an
idea!
Develop your
business plan
Review with
mentors and
support team
Present to
Investors and
Judges
(Final 4 teams)
Winning team
receives start-up
resources and
seed funding
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Innovation Challenge Video
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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
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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
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Help Needed
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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
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Back-Up
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CSULB Innovation Challenge
Schedule (2014 - 2015)
September 9, 2014 –
November 6, 2014
Attend information sessions (5 available)
October 13, 2014 thru
December 9, 2014
Match mentors with teams
December 9, 2014
Last day to submit Letter of Intent (LOI)
February 27, 2015
Business Plans due by 5 pm
March 12-16, 2015
Notification of finalists & runners-up
April 9, 2015
Finalists’ presentations and business plan
judging, and presentation of awards.
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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)
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Example Past Innovation Challenge
Business Ideas
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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
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Student Participation By College
Student Participation by College (LOI's)
50
45
40
35
30
25
20
15
10
5
0
2011
CoE
•
•
2012
CBA
CotA
Other CSULB
2013
Year
Winning Team
College
2011
2012
2013
2014
Electric Motocross Bicycles
GlydeTech
Textbookhouse
InFluids
CoE
CBA
CBA
CoE
2014
Alum, Other Univ, or Unknown
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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