There Has to Be Another Way
3. Innovation Contests
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Sometimes an idea in the head is worth money in the hand,
especially if you win an invention or innovation contest. One to
consider is the Intellectual Property Owners Association award, which
provides $5,000 to one inventor each year. Nominations are
typically due in early spring and winners announced in June every
year. Eligible entries must have originated in the United States,
be covered by a U.S. patent or have been made commercially
available since the beginning of 1996. Hot Opportunities- The Chrysler Design Award gives six $10,000 grants to winners
in the following categories: urban design, graphic design,
landscaping, architecture, new media and fashion. The competition
looks at the breadth of work of designers who have consistently
been on the cutting edge of their respective fields. A nominating
committee selects candidates. For more information, contact Vikki
Hardy at (248) 262-8700.
- The Lemelson-MIT Awards offers $500,000 to an individual,
$30,000 to a student and $30,000 to a student team with a patent
that has the potential to make a significant impact on society.
This is a nomination process only. Interested individuals can
approach a relevant professional organization in the fields of
science, engineering, medicine or business as well as regional
inventors groups to secure a nomination.
Originally published in the July 2000 issue of Entrepreneur Magazine
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