Purdue University and the University of Notre Dame are proud partners with the state of Indiana, through the Indiana Economic Development Corporation, in an initiative to promote nanotechnology discoveries and new ventures in Indiana. One component of this initiative is the Nanotechnology New Ventures Competition (NNVC).
The Nanotechnology New Ventures Competition aims to foster translational research and accelerate the commercialization of intellectual property in the nanotechnology arena within the state of Indiana. In doing so, the Competition exemplifies the spirit of Discovery-to-Delivery by generating entrepreneurship opportunities and driving economic development of nanotechnology research. Participants compete for cash prizes totaling $57,000.
In conjunction with the Nanotechnology New Ventures Competition, the Future of Nanotechnology Research Fair will be held as a complementary component of the NNVC. The Research Fair will be an opportunity for all Competition registrants to share (pitch) their research to an audience including NNVC judges, potential investors and distinguished guests attending the Nanotechnology New Ventures Competition.
These events will be held on March 25, 2011 on the campus of Purdue University in Purdue’s Discovery Park. The Future of Nanotechnology Research Fair will be held from 10 am – noon in the Birck Nanotechnology Center Atrium. The Nanotechnology New Ventures Competition will be held from 1 – 4 pm in the Burton D. Morgan Center for Entrepreneurship (Room 121). This exciting day celebrating the future of nanotechnology research will conclude with a reception and awards dinner.
WHO SHOULD ENTER
The Nanotechnology New Ventures Competition (NNVC) is targeted to researchers who have developed novel technologies or services based in nanotechnology and have an affiliation with the state of Indiana. Participants will gain free access to experts on developing a business plan; will have access to a network of experts in nanotechnology; will have the opportunity to interact with individuals who are interested in investing in nanotechnology ventures; and will compete for cash prizes totaling $57,000. Five finalists will be selected to make presentations to a panel of expert judges. All participants will be invited to attend all NNVC events: registrants will be invited to participate in the Future of Nanotechnology Research Fair (more information below) and may join the audience to observe the final competition.
What defines Nanotechnology?
According to the National Nanotechnology Initiative, “Nanotechnology is the understanding and control of matter at dimensions between approximately 1 and 100 nanometers, where unique phenomena enable novel applications. Encompassing nanoscale science, engineering and technology, nanotechnology involves imaging, measuring, modeling, and manipulating matter at this length scale” (see the National Nanotechnology Initiative website: http://www.nano.gov/html/facts/whatIsNano.html, June 8, 2010).
What is considered a start-up?
The NNVC focuses on Indiana-based start-up ventures that have not yet been launched or are at their earliest stages of launch. An eligible venture is typically one that has generated less than $500,000 in cumulative revenues, has received less than $500,000 in external financing and has been in operation less than three years. Plans that are affiliated with a mature business are typically not eligible to compete. While these guidelines provide general parameters, eligibility determinations will be made on a case-by-case basis at the sole discretion of the NNVC Committee, which includes representatives of Purdue and Notre Dame.
Indiana-based eligibility may be certified through: (1) those who are students or employed by an institution of higher education in the state of Indiana; (2) affiliation at one of many research parks or certified technology parks in the state of Indiana; (3) a business location in the state of Indiana.
Registration will open at noon on Friday, October 15, 2010, and will remain open until noon on Monday, December 6, 2010. Registration is free. The registration website is currently under development.
- Round 1 requires an EXECUTIVE SUMMARY of your business idea and concept. Detailed information regarding requirements for the executive summary will be available upon registration. Executive summaries for Round 1 are due by no later than noon on Tuesday, December 21, 2010. A summary of the requirements for Round 1 is included below.
- Semifinalists will be announced on Friday, January 21, 2011. Those selected to advance to Round 2 will be required to write a BUSINESS PLAN. Detailed information regarding requirements for the business plan will be available upon registration. Business plans will be due by no later than noon on Thursday, February 24, 2011. A summary of the requirements for Round 1 is included below.
- Finalists will be announced on Tuesday, March 15, 2011. Final round judging will take place on March 25, 2010 from 1 – 4 pm in the Burton D. Morgan Center for Entrepreneurship in Purdue’s Discovery Park. Five (5) finalists will be selected and invited to present live before our distinguished panel of judges. These finalists will compete for cash prizes totaling $57,000:
- First prize: $30,000
- Second prize: $15,000
- Third prize: $10,000
- Fourth and fifth prizes: $1,000 each
All registrants will be invited to attend a free workshop on how to create a viable business plan. Participation is voluntary, but is strongly encouraged. This workshop will be presented both at the University of Notre Dame and at Purdue University during the months of October and November, 2010. Details regarding the workshops (date, time and location) will be made available upon registration.
All registrants will be invited to present (pitch) their venture/research at the Future of Nanotechnology Research Fair, to be held March 25, 2011 from 10 am – noon in the Birck Nanotechnology Center in Purdue’s Discovery Park. Detailed information regarding the Research Fair will be made available to all who register for the New Nanotechnology Venture Competition. Finalists selected for the New Ventures competition are required to participate with a poster in the morning Research Fair.
Please note: Participants must certify that the individual/team/company owns or has rights to license/use its proposed technology. This certification may be a statement from the office which is assisting with disclosures, licensures, or patents.
For additional information or if you have questions, please contact:
Candiss B. Vibbert, Ph.D.
Associate Director for Discovery Park Engagement
Burton D. Morgan Center for Entrepreneurship
Purdue University Discovery Park
Telephone: (765) 494-9404
Karen C. Slaggert
Gigot Center for Entrepreneurial Studies
University of Notre Dame
Telephone: (574) 631-2714