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Innovation Challenge

Image of two students presenting their project at the Innovation Challenge competition.

Ready to make an impact and take your ideas to the next level?

Participate in our Innovation Challenge Competition! Participating in innovation competitions cultivates creativity, fosters collaboration, and offers a platform to turn visionary concepts into tangible realities. You’ll gain hands-on experience in problem-solving, project development, and teamwork—all essential skills for future success.

 

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Why join the Innovation Challenge?

The Innovation Challenge Competition is your pathway into the Innovation Incubator, where your team will receive both seed funding and year-round support to develop your idea from initial concept to a Minimum Viable Prototype (MVP/MVX).

Up to $5,000 in seed funding for each winning team. 

Each team member will also receive $500 in scholarships ($250/semester) to help support your participation.

Who can apply?

If you’re a current Iowa State undergraduate, this competition is for you!

  • Eligibility: Current Iowa State undergraduate students (full-time or part-time).
  • Team Requirements: Teams of 2-5 members, with representation from at least 2 different Iowa State Colleges. With one or more team member who will be enrolled in Fall 2025.
  • Exclusions: Graduate research work and existing start-ups are not eligible for this competition.

Applications are due by Monday, April 7, 2025.

1. Innovation Workshops (optional): The following workshops are designed to spark your imagination, foster teamwork, and guide the development of compelling project proposals. 

2. Application Submission: Teams should prepare and submit the following by Monday, April 7: 

  • Project Proposal
  • 90-second Video Pitch
  • Optional Pitch Slideshow

3. Selection of Finalists: After reviewing submissions, finalist teams will be selected and invited to refine their presentation skills through a dedicated workshop. This will lead up to the Final Presentations on Wednesday, May 7. 

4. Final Presentations: The finalist teams will present their innovative solutions to a global panel of judges, with the victors celebrated at the IGNITE Awards Ceremony on Thursday, May 8. Winning teams will be awarded admission to the Innovation Challenge Incubator and funding to continue working on their project. 

  • Application Deadline: Monday, April 7
  • Finalist Announcement: Monday, April 14
  • Finalist Workshop: April 21-25
  • Final Presentations: Wednesday, May 7
  • IGNITE Awards Ceremony: Thursday, May 8

As you prepare your submission, make sure to clearly cover these five key areas: problem, solution, social impact, development plan, and team. Our judges will assess these criteria to select Innovation Challenge finalists and competition winners. We’re excited to see how your project stands out and makes a difference!

  1. Problem: What problem are you solving, and how does it relate to the competition themes?
  2. Solution: How does your solution work? What makes it innovative?
  3. Social Impact: How will your solution make a meaningful, positive difference in the world?
  4. Development Plan: What are your next steps to develop your solution and create a minimum viable prototype or experience (MVP/MVX)?
  5. Team: What skills does your team have to make this project a success?

What is the Innovation Incubator?

In the academic year following their competition, winning teams will receive invaluable support, resources, and mentorship to help accelerate the development of their projects. The Innovation Challenge Incubator is designed to guide teams as they turn their ideas into tangible, market-ready solutions. Here’s a breakdown of what winning teams will receive:

  • Project Plan and Budget: After selection, winning teams will propose a budget for allowable expenditures. A project management plan will also be required for further development with funding allocation.
  • Allowable Use of Funds: Project funding may be used for travel, market research, samples, parts, equipment, or supplies. Funding requests must be submitted and approved through Iowa State licensed vendors. Funding may not be used for clothing, food, beverages, or student and/or faculty stipends.
  • Mentorship and Support: Winning teams will meet with Student Innovation Center leadership and mentors at least 3 times a year for project review and advice. Teams should meet continuously as an entire group and progress according to their project management plan throughout the year.
  • IGNITE Presentation: Winning teams will present their year-long progress at the following year’s IGNITE showcase.

Innovation Challenge Application Submission 2025

Submissions are due by 11:59 PM on Monday, April 7. Finalists will be announced on Monday, April 14. This submission will serve as the first round in our Innovation Challenge and will be reviewed by experts and faculty. The aim is to have a pre-selection of around a dozen team-based Big Ideas to be presented to the judging panel constituted by industry partners, community stakeholders, and venture leaders at the end of the semester during IGNITE.

Step 1 of 2

Team and Project Information

Name(Required)
Team Member(s)(Required)
Please list all team members with their name, major, and year in school.
Name
Major
Year in School
 
Team Mentor
Please list your team mentor name, position, and expertise.
Name
Position
Expertise
Has your project been incubated in any classes or previous challenges?

Resources

To support your journey in the Innovation Challenge, we’ve compiled a comprehensive list of resources categorized to assist you from ideation through execution. These resources span a variety of formats, including educational courses, inspirational talks, and practical tools for project development and innovation strategy.

For more detailed information, including complete rules and guidelines, download the full Innovation Challenge Brief here. 

David Slump’s Insights on the Innovation Fund Challenge

“Innovation to me, is doing something different. It’s looking at a problem and solving it with a different set of tools. That’s why it’s an interdisciplinary sport. You need programs like these to use different muscles.”

David Slump, Chief Executive Officer Marelli, ’91 Iowa State Alum

David Slump, Chief Executive Officer Marelli, ’91 Iowa State Alum

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