Radius Indiana’s second annual “Crane IP Defense Innovation Pitch Competition” is set to take place on June 23. The organization says entrepreneurs, inventors and start-ups can pitch innovative proposals to southwestern Indiana defense and economic development industry leaders at the competition.
The competition will offer royalty-free opportunities to commercialize the patented technologies and concepts developed at Naval Surface Warfare Center-Crane Division. Radius says individuals and teams can develop a proposal for one of the intellectual property areas selected for the competition.
The organization says cash prizes totaling $7,000 will be available to the top three contestants.
“Our desire is that businesses and entrepreneurs will be able to make use of these technologies, which will ultimately lead to job creation and economic growth,” said Jenna Dix, technology transfer director at NSWC Crane. “The engineers and scientists at Crane create valuable technology to help the men and women who protect our nation, and we would love to see this technology be applied to increase innovation in our communities.”
The competition is hosted by Radius Indiana, in coordination with Indianapolis-based Elevate Ventures, Naval Surface Warfare Center-Crane Division, Indiana Innovation Institute, and the Indiana Small Business Development Center.
Radius says additional prize funds will be available for competitors with locations in the organization’s region of southern Indiana.
“Radius continues to make important investments in small business and entrepreneurship,” said Keeley Stingel, vice president of innovation and economic development at Radius Indiana. “The continuation of the pitch competition and the strength of the relationships between our partners positions our region and defense ecosystem to attract top talent and emerging technologies.”
The registration deadline is June 1. You can connect to additional information about the competition by clicking here.