Announcing winners of the 2018 Entrepreneurship & Innovation Challenge.
In addition to cash awards, selected teams/participants get evaluated to participate in our ancillary offerings: the S2M Accelerator, NJIT Summer Innovation Accelerator and Johnson & Johnson Consumer R&D Immersion. The program is supported through generous grants and contributions from our sponsors: Allergan, Bristol–Myers Squibb, Johnoson & Johnson and Nevakar.
For our inaugural year we, we had many good applications, validating the requirement for such initiatives. In addition to innovation and competitive advantage, the judges focused on choosing teams that can maximize the benefits associated with our ancillary offering to propel company growth. The Entrepreneurship & Innovation challenge Board collectively has selected the following teams for the awards. The award amounts will be disclosed and discussed with the teams shortly.
1st Place: WordStim: A Language Game for Aphasia
Wordstim, is being developed by Ayana Webb, M.A., CCC-SLP, speech pathologist a clinician. WordSTIM has been tested in the clinical setting with aphasia patients for over four years. Preliminary results indicate significant improvement in cognitive processing for verbal output. The data is being utilized to develop NIH and NSF grant applications for additional funding.
The AWISNJ award will be utilized to prototype a new, upgraded version of WordSTIM.
Maria V. De Abreu Pineda is the team lead representing this collaborative student project between Steven’s Institute of technology and Rutgers, UMDNJ. Current measurement of brain pulsatility during open-brain surgeries is limited to a qualitative determination by means of a surgeon physically feeling the brain. The team’s solution is CerebroSense, a brain pulsatility measurement device that utilizes ultrasonic sensing technology to provide a non-contact, quantitative, and real time determination. With an approximate 160,000 open-brain surgeries performed in the US per year, and an average cost of $60,000 per case due to complications, CerebroSense offers a way to reduce both costs and risks as the first device of its kind to gather quantitative data intraoperatively.
AWISNJ award will be used for further project development.
2nd Place: GoodVibe Medical: Biomechanical Stimulation Therapy for At-Home Treatment of Chronic Conditions
Kaila Trawitzki, the team lead is passionate about disability advocacy and rehabilitative technology as she struggles daily with ADHD. This NJIT student-lead medical device company is focused on rehabilitative technology through biomechanical stimulation therapy, which uses repeated low-frequency vibrations to loosen muscle tension, improve circulation, and stimulate cells. Initial target market: children with cerebral palsy with potential to expand to other conditions/markets.
AWISNJ award will be used for travel to conferences for customer discovery
3rd Place: ArtVeta: A digital Networking Platform Focused on Creative Arts
Mrinalini Ayachit, Founder. Developing a digital platform to help participants of the creative economy to showcase, collaborate and find opportunities through a Local Trusted Network. A “LinkedIn ++” for creative talent. The AWISNJ award will be utilized towards marketing and development.
3rd Place: Learnroll Immerse: Enabling learning experience through immersive learning, VA/AR education
Sushmita Chatterjee, Founder. The AWISNJ award will be utilized towards marketing and development.
1st Place: Stressband from Robomia: A carpal tunnel stress monitor
Ujjayi Pamidigantam, Founder. A high school students team, Robomia is focused on developing consumer products involving robotic principles. Carpal Tunnel Syndrome (CTS) also known as median nerve compression is a disorder caused by the pinched compressed nerve causing the affected hand to not move. The company is developing Stressband, a patent pending device that will massage and track the stress on the median nerve and alert when it reaches threshold levels.
The AWISNJ award will be utilized towards marketing and development.
Entrepreneurship & Innovation Challenge
The challenge is to designed encourage women who have embraced or plan to lead entrepreneurial ventures. All New Jersey resident STEM female professionals are eligible to apply. Institutional affiliation is not necessary. Two categories of awards are included. Both categories need to fill out AWISNJ Executive Summary Template Powerpoint Template and submit to email@example.com by:
AWISNJ STEM ENTREPRENEURSHIP AWARDS
STEM female professionals who have already graduated are eligible to participate in STEM Entrepreneurship Awards. The top teams will be awarded:
1st Place – $5000
2nd Place – $2000
3rd Place – $1000
AWISNJ STEM INNOVATION AWARDS
New Jersey high school and college females/ female led groups are eligible to participate in the Innovation Challenge. Top 4 college and school teams (2 each) will be competing for:
College Groups School Groups
1st Place – $500 1st Place – $500
2nd Place – $250 2nd Place – $250
AWIS STEM to Market Accelerator
NJIT Summer Innovation Accelerator Membership (No fees or equity taken)
Johnson & Johnson Consumer R&D Immersion.
Executive Summary. The Executive Summary (following the template theme available above) should be submitted as a pdf file to firstname.lastname@example.org with a subject line: Executive Summary. It is highly recommended that your Executive Summary highlight the most interesting and important elements of your plan that would inform an external reviewer or judge as to why your idea will succeed.
Business Plan. The Business Plan should be an expanded version of the Executive Summary not exceeding 20 minutes during presentation. It should clearly explain your Products or Services, Market and Marketing Strategy, Operations, Management and Business Model (how your venture will make money).
JUDGING PROCESS & FORMAT
Pitches will be judged on factors such as innovation of product/service, understanding of the market, growth and sustainability planning, the development of competitive advantage, the availability of management and skill sets, the strength of vision, and well-defined goals.
- A panel of judges will conduct a blind review of executive summaries to select and invite top teams for the final pitching & awarding event.
- On March 8, 2018, female leads from invited teams will give a 20-minute presentation of their business plan, including a 60-second Elevator Pitch.
- Judges will evaluate the presentations and winners will be announced.
- All decisions by the judges will be final.