The Entrepreneurial Challenge is a competition held by Sikorsky Innovations to identify and support emerging, revolutionary technology in the rotorcraft market. The challenge provides an opportunity for entrepreneurial companies to understand some of the toughest issues facing the vertical flight community and identify their technology as relevant to one of more of these issues. The Challenge is designed to open a clear communication pathway between the entrepreneurial community and Sikorsky Innovations, with the goal of increasing opportunities for collaboration and novel technology integration into current and future rotorcraft products. The Challenge is open to any small company, U.S. based or international, including newly formed and pre-revenue entities, that meet the requirements defined in the Entrepreneurial Challenge Application Kit.
- Competition Organizer
- *International Event*
- *Available in all states*
- Submission Date
- Awards Date
- Competition Category
- Graduate - All U.S.
- Social Entrepreneurship
- Technology - Other
- Business - Global
- Graduate - Global
- Who's Eligible
An entrepreneurial entity or small team within a larger organization is eligible to
compete, provided the following requirements are met:
- The team may not consist of more than 10 full time employees.
- The team may not have annual revenues in excess of $5 Million US.
- Each team must have at least one full time employee working on the technology. A ‘full time employee’ is defined as a person that maintains standard business hours working on the technology or venture (at a minimum, Monday through Friday, 9:00am-5:00pm)
- The product or technology the team is offering for consideration provides a functionality or capability not currently available in any off the shelf product, or a functionality/capability that can be demonstrated to possess at least a 10X improvement over current technology in some aspect (10X less power consumption, 10X less expensive, 10X more powerful, etc)
- The product or technology the team is offering for consideration represents original ideas wholly owned or licensed by the team.
- The team is willing to relocate not less than 2 of its members (unless the submission is a sole person) full time to the Innovation Center to participate in-person within the Sikorsky incubator.
- By the time of the final round presentation, the team has formed a recognized, legal entity for the company structure. If one has not been formed at the time of the application, the team must bring formationdocuments with them to the final round presentation as proof.
- Important Dates
The current schedule for this Challenge is as follows:
Aug 17 2012 Challenge Questions Released Oct 10 2012 (5PM EDT) Application Period Ends Mid Oct 2012 Final Round Contestants Notified Early to Mid-Nov 2012 Final Round Competition at Sikorsky Mid-Nov 2012 Winner Notified Jan 2013 Winner Takes Occupancy at Stamford iCenter
- Competition Prizes
The winning entrepreneurial team from each Challenge will receive:
- One year free utilization of a predetermined space (anticipated to be able to seat 2-4 people) within the new Stamford Innovation Center.
- One year of free access to new Stamford Innovation Center (Stamford iCenter) shared business services, mentoring programs, and education program and events.
- Participation in a rolling, 3-month long Sikorsky education program, designed to provide both technical and business strategy guidance.