Bedford-based Radius Indiana will Thursday host what it is calling the first “Royalty-free IP Pitch Competition” in southwest central Indiana. The organization says participants will compete for cash prizes with their proposals for intellectual properties developed at Naval Surface Warfare Center, Crane Division.
Radius says individuals or teams will develop proposals for one of 10 IP in subjects including drone tracking, battery charger and power reduction systems, Tunable Detection Systems and Hyperspectral Imaging.
The organization says the hope is that businesses and entrepreneurs will use the technologies to support new jobs and economic growth in the region.
“The engineers and scientists at NSWC create these solutions to solve problems encountered by the men and women protecting our nation, but many of these also can apply to the needs of everyday life for people anywhere,” said Jeff Quyle, chief executive officer of Radius Indiana. “We hope that our pitch competitors will produce ‘win/win’ results: a practical application of the technology to make life better, and a new business that can grow here among our communities.”
The pitch competition is being held in conjunction with Indianapolis-based Elevate Ventures, NSWC Crane, and the Indiana Small Business Development Center.
You can learn more about the intellectual properties involved in the competition by clicking here.