Faculty and Staff Innovation Pitch Competition

November 19, 2024

The Faculty and Staff Innovation Pitch Competition offers the University of Alabama’s faculty and staff the opportunity to win cash resources for an original business idea. This year the competitions offers a total of $45,000 in funding including a $15,000 grand prize, a $10,000 prize and two additional prizes at $5,000, $3,000 and $2,000. All you need to do is record your 3-minute pitch and be ready to do a question and answer session with judges. 

What to expect

In general, any faculty of staff member at The University of Alabama is eligible to apply.

  • ALL Faculty and staff can apply individually or as a team.  
  • Presenting team members must be currently working at The University of Alabama.
  • Previous winners who did not win the Alabama Power Foundation Innovative Technology Grand Prize and/or the Culverhouse College of Business Entrepreneurial Growth Award can compete again in another year ONLY if the business idea has evolved and changed (progressed), or they have a new business idea.  If unsure, please contact Dr. Welbourne at twelbourne@cba.ua.edu or Dr. Ying Qin at yqin@ua.edu.

Overall, the intellectual property practices at UA are a win/win for the inventor and the University. Because employees are pitching in this event, we want you to understand how the University’s intellectual property policy works.

Note that our policy is fundamentally no different from the practices of companies or other universities. The overall governing idea is if significant University resources are used, if your discovery results from a project where the costs were paid by the University, or if the discovery is in your field of work at the University, then the University owns the idea (this is a normal business practice).

As the inventor, you gain from the University’s expertise in evaluation, marketing, and ability to secure intellectual property rights while also benefiting from the University’s interest in recognizing your efforts and providing you with some share of any potential gain.

  • There is no entry fee.
  • The competition is open to UA faculty and staff.
  • Ideas must be the original work of entrants (they can work with a team).
  • Remember to keep your pitch concise and simple, encouraging judges to want to learn more.
  • You will have 3 minutes to persuasively describe your idea in your recorded pitch video. A panel of judges will then review. The virtual ‘live’ session will focus on questions and answers with the judges.
  • Judges may ask about the problem you are solving, your product or service, your market/customer, business management, and financials. Review the judging criteria for a more complete view of what judges will be seeking.
  • Although you can be part of a team, only one UA faculty/staff member from the team should submit as the contestant and handle the Q&A session.
  • By participating in this event, you grant the right and permission of UA staff to use photos, videos, and audio recordings in publicity, including Internet social media.

What's at stake

Alabama Power Foundation – Innovative Technology Grand Prize – $15,000

The Alabama Power Foundation is sponsoring an additional $15,000 grand prize for the faculty and staff competition. The grand prize will go to a technology-focused idea that has the potential to drive a new business or commercialization.

Entrepreneurial Growth Award – $10,000

The Culverhouse College of Business is sponsoring this $10,000 prize for any business idea that is most likely to scale or grow, either non-profit or for-profit.

Office for Research and Economic Development – $10,000

The Office for Research and Economic Development is sponsoring three awards for best innovative ideas from a technology track to develop products or services that can be patented or build.

  • First Prize: $5,000
  • Second Prize: $3,000
  • Third Prize: $2,000

Staff Innovation Pitch Awards – $10,000

Division of Finance and Operations is providing three awards dedicated to staff innovative ideas.

  • First Prize: $5,000
  • Second Prize: $3,000
  • Third Prize: $2,000

Additional awards for all winners

Co-working Space

One year of free co-working space at The EDGE

Free Consulting

Business, accounting, and law partners’ consulting

Timeline of Events

Registration is Open

March 21st

Video Presentations Due

May 6th by 11:59PM CST

Virtual Competition

May 10th

Virtual Competition via ZOOM.

Details will be provided.

Winners Announced

May 10th

Announcement on the website.

Connect with our team

THERESA M. WELBOURNE, PHD

EXECUTIVE DIRECTOR OF AEI
WILL AND MAGGIE BROOKE PROFESSOR IN ENTREPRENEURSHIP

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