Kettering University has added a Web 2.0 component to its Innovation Challenge for 2009.
The annual competition used to judge written business plans. But this year, the first round of the competition will see students making an initial pitch in a 90-second video uploaded to YouTube.
"We're trying to do things that are more aligned with what students are doing these days," said Art DeMonte, professor of entrepreneurship at Kettering. "Every time we see them on breaks they're on YouTube or Facebook or checking out text messages."
All active Kettering students are invited to view the pitches and vote -- the highest vote getters will be awarded $1,000 for first place and two runners-up get $500 apiece.
After the initial round, DeMonte said the competition would move into a more traditional faceoff of five-page business plan executive summaries, called the Commercialization Phase.
Business ideas can be technology related in fields such as computer sciences, alternative energy, advanced manufacturing, life sciences or “cleantech” -- or can be a new business model or even a not-for-profit concept.
The new format also forces Kettering's engineering students to think in terms of visual marketing, DeMonte said.
"We believe strong engineering fundamentals coupled with creative and entrepreneurial thinking will make our graduates a very sought after commodity," DeMonte said.
To kick-off the challenge, Curt Bailey, President, Sundberg-Ferar, Inc, a renowned industrial design firm based in Michigan, was guest speaker at Kettering University discussing the importance of innovation in product design and the imperative to design products that stand out from the crowd. An interview with Bailey can also be viewed at the Kettering channel on YouTube.com or directly via www.kettering.edu/orgs/kuinnovation/
For more information, contact Art DeMonte at ademonte@kettering.edu or Sunny Park at spark@kettering.edu.
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