- Minimum Advance
- 20 Years Percentage
- of Sales or Buyout
Inventors Digest 2010 Collegiate Alt-Energy Challenge: Help Save the World – One Kilowatt at a Time
EDISON NATION MEMBERS: PLEASE NOTE THAT THIS IS NOT A LIVE PRODUCT SEARCH. PLEASE CAREFULLY READ THE DETAILS BELOW BEFORE YOU CONSIDER PARTICIPATING IN THIS CHALLENGE.
One-fourth of the world’s population lives without electricity, contributing to poverty, malnutrition, disease and death. To encourage young minds to think innovatively to help curb this vicious cycle, Inventors Digest has partnered with the National Collegiate Inventors & Innovators Alliance (NCIIA) to seek U.S. college students’ ideas for the most innovative low-cost, alternative energy-related technology, product, solution or service. The NCIIA is host to the popular, annual March Madness for the Mind, celebrating collegiate innovation and entrepreneurship, an idea we can get behind.
To support this noble pursuit and our sister organization, Edison Nation is offering up its secure platform to accept all challenge submissions on behalf of Inventors Digest.
Challenge details, as defined by Inventors Digest, are included below. Keep in mind that this challenge does not adhere to the same terms and conditions of the traditional Live Product Search challenges hosted by Edison Nation. Click here to learn more about Edison Nation’s Live Product Searches.
Reward: Advance & Royalties
Licensed ideas will receive a $2,500 minimum advance on 20 years percentage of sales or buyout. We split the licensing royalties 50/50 with you on the products that we select. Royalties vary based upon the product but we always earn industry-leading rates.
Who can submit: Only U.S.college and college-bound students are eligible.
What: 2010 Collegiate Alt-Energy Challenge – Saving Our World One Kilowatt at a Time. The challenge will award cash and other prizes for the most innovative low-cost, alternative energy-related technology, product, solution or service.
Why: A quarter of the world’s population lives without any form of electricity. Lack of access to electricity or power contributes to poverty, malnutrition, disease and death. It’s a vicious cycle, and one that can be alleviated through innovation and creative use of low-cost technology.
When: Contest launches March 26, 2010. The deadline to submit online through Edison Nation is 5:00 p.m. EST, August 31, 2010
How: Students should create 2-minute “elevator pitch” videos for their submissions and may upload them as media during the online submission process. Further details are provided in the “Official Rules” included below. Edison Nation’s open innovation platform ensures intellectual property protection and preserves potential licensing opportunities. Challenge winners will be announced during National Inventors Month in August 2010. Winners must agree to have their videos posted on InventorsDigest.com. There is no cost to submit.
Cost: There is no cost to submit.
Compensation: Cash prizes and other loot. See Official Rules below for further details.
Submission deadline 5 p.m. EST, August 31, 2010
1. Eligibility – The 2010 Collegiate Alt-Energy Challenge (“Challenge”) is offered only to individuals who are legal residents of the 50 United States, District of Columbia, and United States territories and possessions, who are 18 years of age or older at the time an entry submission is submitted in accordance with the instructions below. Employees, officers, directors and advisors of Inventors Digest (“ID or “Sponsor”), their respective parents, affiliated and subsidiary companies, advertising and promotion agencies, Contest judges, web masters and web suppliers, and persons engaged in the development of the Contest and Contest materials and members of the immediate family (parents, siblings, children [natural, adopted, foster] and spouse, wherever they reside) or household members (whether or not related) of such employees, officers, directors, advisors are not eligible. By participating, you agree to these Official Rules and all the decisions of Sponsor, which are final and binding in all respects. Void where prohibited.
2. Contest Period: Contest begins March 26, 2010 at 12:00 Noon (ET); and ends August 31, 2010 at 5 p.m. (ET). Winner or winners will be notified on or before August 31, 2010.
3. How To Participate: You may participate in the Challenge by going to: www.edisonnation.com (the “web site”) and downloading official rules and filling out the entry form. Only one (1) entry per contestant.
4. The Challenge Entry: Students must submit videos – 2-minute “elevator pitches” – through the web site. The video must have been conceived by the entrant and be the sole and original work of the entrant. Entries must show an alternative energy technology, tool, product or service. Winning video(s) will demonstrate imagination, innovation in presentation and in implementation, as well as have low-cost, highly deployable and scalable attributes.
The Video must:
a. be 2 minutes or less;
b. clearly articulate or describe the technology, tool, product or service; and,
c. be based on scientific, engineering or physics principles as solely determined by Sponsor.
The Video cannot:
a. be based on impossible flights of fancy,
b. be interpreted or repurposed from existing material, or,
c. be about something that is already protected by patent or copyright unless the patent or copyright is owned by the entrant, or the patent or copyright has expired.
5. Entry Submissions: ALL ENTRIES MUST BE SUBMITTED VIA THE WEB SITE.
Entries must be received and recorded by Inventors Digest by August 1, 2010; 5 p.m. (ET).
Only one (1) submission per entrant. All entries must be unique. Winner(s) agree to allow Inventors Digest to post the video on its Web site at the conclusion of the Challenge.
Any submission that, in the sole opinion of Inventors Digest, is considered inappropriate or not suitable for publication on its site or in its print publication will be ineligible. Any submission that, in the sole opinion of Inventors Digest, violates the Inventors Digest code of conduct will be ineligible. The code of conduct is incorporated into, and made a part of, these Official Rules as though fully set forth herein. Once an entry is submitted it is the sole responsibility of the entrant to inform Inventors Digest if his/her contact information changes during the entry and notification process. Sponsor is not responsible for any failure to contact an entrant if their respective contact information is not current. To update contact information, please contact email@example.com.
Submissions become the property of Inventors Digest and will not be returned.
6. Judging: There will be 3 rounds/phases of judging:
Round /Phase 1 of judging is the initial evaluation screening, which will evaluate and confirm each entry’s compatibility with Challenge theme and age restrictions; as well as whether it is a real entry (not gibberish, a ruse, or otherwise bogus nonsensical submission); all videos must be submitted by 5 p.m. (ET), August 31, 2010 or the entry will be disqualified.
In every instance, any submission considered inappropriate in any way will be immediately and permanently disqualified.
If an entry is determined by Inventors Digest and the evaluators as eligible in accordance with the Challenge theme; is deemed a legitimate entry; and is received by the published deadline; it will be considered an ‘active’ entry and proceed to Round/Phase 2.
Round/Phase 2 of judging is the active evaluation screening, which will evaluate eligible entry submissions, with focus on: Originality of Concept/Uniqueness of Approach; and clarity and vision of a low-cost, alternative-energy tool, technology, product or service. The top submissions will demonstrate imagination, innovation, and sound engineering principles, as well as compelling presentation.
The top 25 submissions that meet the criteria above at the sole discretion of Inventors Digest and evaluators will proceed to the final round of judging, Round /Phase 3.
Round/Phase 3 of judging is the final screening, which will be completed by a panel of Inventors Digest/VIP & Industry Experts, who will evaluate the entries that advanced from Phase 2) based on: Originality of concept/uniqueness of approach; sophistication of expression; artful and/or deft use of presentation; adherence to scientific and/or engineering principles.
The potential Grand Prize Winner(s) will be notified in a manner determined by Sponsor on or before August 31, 2010.
7. Prizes: There will at least One Grand Prize Winner who will receive a monetary award, a free one-year subscription to Inventors Digest, a potential opportunity to appear in the PBS television series Everyday Edisons, and a t-shirt.
Entrants (as solely determined by Sponsor) must execute all documents and agree to all undertakings of winner set forth in these Official Rules or prize may be forfeited and awarded an alternate winner. Sponsor reserves the right to substitute prize, or a portion of prize with a prize, or portion or prize of equal or greater value if such prize or portion becomes unavailable. Taxes on prize, if any, are solely the responsibility of winner.
8. Winner List: For the name of winner, mail a first class self addressed stamped envelope to: Inventors Digest, ATTN: Contest Winners; 520 Elliot St., Ste. 200, Charlotte, NC 28202 for receipt by October 30, 2010. Name of winner may also be posted on the Inventors Digest web site.
9. Sponsor: Inventors Digest LLC, 520 Elliot St., Ste. 200, Charlotte, NC 28202 USA
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