Tuesday, September 14, 2010

University of Alaska Fairbanks School of Management will award prizes for arctic innovation

Competition is now open for the second annual Arctic Innovation Competition, sponsored by the University of Alaska Fairbanks School of Management, with prizes this year totaling over $19,000.
Participants must propose new, feasible and potentially profitable ideas, in a paragraph or two and submit entries by Sept. 30. The competition is open to the public and there is no entry fee. Individuals or groups with an innovative idea for solving real-life problems and challenges are encouraged to enter.
UAF Professor Ping Lan, the founder of the competition, said those who pass the initial screening process will be notified by Oct. 15. They will present their ideas to judge Oct. 29 at the UAF Wood Center ballroom, with a reception to follow.
Twenty winners will be selected to receive cash prizes ranging from $100 to $10,000.
Last year, more than 200 ideas were submitted from around the world. Last year's $10,000 winner was Chris Hunter, with an idea that extends lead-acid battery life tenfold. Runners up were Bruce Kraft, exploring efficient refrigeration; Frank Eagle, offering a mobile restaurant-seating concept; and 12-year-old Jared Post, with an electrical cord safety-locking cap concept.
Lan said the competition's aim is "to stimulate people's creativity and develop new business
"Many people have an idea when frustrated by a problem and think there must be a better way, Lan said. "This competition is the perfect opportunity to turn ideas into reality."
AIC sponsors include UAF departments, the Fairbanks North Star Borough, and local businesses such as Doyon Limited and Northrim Bank.
More information is available online at www.arcticinno.com.

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