Student Innovator 2011

SIOY Info Booklet 1

THE STUDENT INNOVATOR OF THE YEAR COMPETITION

empowering innovation

SIOY Info Booklet 3

THE STUDENT INNOVATOR OF THE YEAR COMPETITIONempowering innovation

INFORMATION BOOkleTCreative thinkers come up with great ideas to solve life’s problems. Innovators are those that take creative ideas, and turn them into reality. Orville and Wilbur Wright are excellent examples of innovation; they took the theories that men could fly, and built the first working prototypes. This was done in a methodical, clever, and inspired way, and gave birth to the aero-space industry as we know it today. The Student Innovator of the Year competition at Brigham Young University will enable students to apply this kind of innovation and create prototypes of their ideas.

The product development process includes three main steps: idea generation, prototype creation, and mass production. This competition focuses on innovation providing an opportunity for students to use classroom knowledge in a novel way. After students develop a creative idea into a prototype they will record their prog-ress and future plans in both oral and written reports at the Octo-ber competition. Winners will receive a financial award meant to help them prepare for the March BYU Business Plan Competition (BPC), and turn these prototypes into successful ventures.

ELIGIBILITYQUALIFYING IDEASAPPLICATIONFORM BASED QUESTIONSREQUIRED DOCUMENTSCOMPETITION EVENTSROUND ONEWRITTEN REPORTPROTOTYPE FAIRFIRST ROUND JUDGINGROUND TWOFINAL ROUND JUDGINGSTUDENT LOANSPRIZESSTUDENT TIPS

47889101010 12121415161820

» Preliminary Application Deadline: » March 21st » Apply now to get funding and work on your prototype over

the summer. » Innovation Fair: Mid October, 2011

DATES TO REMEMBER

SIOY Info Booklet 5

ELIGIBILITY

All participants must be current BYU students. This means they are enrolled part or full-time during the Fall 2011 semester as either undergraduate or graduate students. Individuals or teams of any size may compete, although, small interdisciplin-ary teams are encouraged. BYU students from any major may participate in the competition. Outside mentoring may be utilized throughout the prototype creation process, but such help from professors or other sources will be reported in both the formal write-up and the presentation portions of the competition. At least one team member must be a current BYU student during the Winter 2012 semester, so as to enable the team to compete in the BPC.

“Strive for perfection in everything you do. Take the best that exists and make it better. When it does not exist, design it.”

—Sir Henry Royce, founder, Rolls-Royce Company

SIOY Info Booklet 7

CLASSIFICATION

The individual group project must be based on an original idea, concept, or application. Projects may originate from capstone projects, class, work, or any other source. Teams or individuals may submit more than one entry. Projects that involve hazardous materials or dangerous components will need to have this information disclosed on the appli-cation. Applicant will be notified of approval depending on submission date. There will be 2 categories:Category 1 - Sponsored projects, both entrepeneurial and social.Category 2 - Non-Sponsored projects, both entrepreneurial and social.

Sponsored Projects are prejects where $1,000 or more has: 1. Been invested in the project and/or 2. Been received for sponsorship of the project and/or 3. Been received through grants or donations

Social Projects- are projects that provide solutions that do not neces-sarily provide monetary return to the entrepreneur but look to change the world for the other 90% of its population.

“I’m always thinking about creating. My future starts when I wake up every morning...Every day I find something creative to do with my life.”

—Miles Davis, musician

SIOY Info Booklet 9

APPLICATION

STEP ONE: FORM BASED QUESTIONS

STEP TWO: REQUIRED DOCUMENTS

The website will include a form where basic information is to be submitted:

Students interested in competing in the Student Innovator of the Year (SIOY) competition may apply between Feb 1, 2011 and Friday, September 9, 2011 at 11:59 p.m. The application has two parts, the first being a simple form completed at www.etstartup.org, and the second being a more in depth report overviewing the prototype idea, background, and plans. This second portion is to be uploaded at www.etstartup.org as well. Both parts need to be completed for the application to be considered complete.

» Title of project or idea » Name of group leader » Names of other participants » Declared major of team members » Year in school » Graduation date » Contact Information » Whether a loan is requested

» Executive summary › Describe the idea and prototype, how it will be done, and

why it is innovative. » Introduction of idea

› History and personal value. » Usefulness and Uniqueness

› How it is useful in industry. › How does it solve a “market pain”, problem, or inconve-

nience in society. » Plan of Attack

› Describe the prototype process. » Project Needs

› What materials, skills, machines, and other necessities will be needed.

» Funding Document › How much funding is needed. › Where the funding will come from.

» Bill of Material › What the funds will be used on.

» Product Sketches › Any sketches of the product that clarify the ideas and

how it will be made .

In addition to the online form, a report with certain docu-mentation is required. All documentation should be submit-ted by the application deadline, Friday September 10, 2010. Documentation to be submitted during the initial application should include the following:

Applicants who wish to apply for a loan from the Ira A. Fulton College of Engineering and Technology will need to submit additional documentation, as explained on page 16. Both parts of the application must be completed to be eligible for the loan. The initial report is helpful to competitors as it will be similar to the report due for round one of the competition.

SIOY Info Booklet 11

COMPETITION EVENTS

ROUND ONE

To participate in the competition, innovators must build a work-ing prototype and submit a written report. Innovators will also be expected to make a short presentation as well.

The competition will consist of two rounds: 1. Prototype Fair2. Final Presentation In the first round, competitors will be judged on the completion of the prototype. In the final round, competitors will also be judged on their presentation.

During the first round, judges will select finalists to advance to the final round based on the judges’ evaluation a presentation given during the prototype fair. Ten finalists will advance to the final round.

The written report will allow the competitors to document all that they have accomplished during the prototyping phase. The report should include innovative solutions they implemented during the prototyping phase. The use of pictures is encouraged to illustrate the product and design explanations. This should follow the format of a lab report, describing the objective, theo-ries used, results with discussions, and the conclusion.

This written report serves many purposes. First and fore-most, this report will be very helpful with future formulation of a provisional or a full patent. The report will also be used to brief the judges for the first round of the competition. Judges will also use the report to prepare questions which will be asked during the prototype fair.

The written report should include elements from the initial application by explaining how you carried out your initial plan.

The written report should include the following: » Executive Summary

› Less than one page. › Describe the idea and prototype, how it was done, and

why it is innovative. › Note: the Executive Summary should be similar, in form,

to an abstract. » Project Overview

› What this product means to you, why you did it. › How the project was carried out from concept to pro-

totype. › How the prototype design was improved, and why. › What materials were used to build the prototype, and

why. › What methods and processes were used for manufac-

turing, and why. › How the methods used were innovative and clever. › This should explain how you were original in carrying

out your project. › Usefulness and Uniqueness. › How it is useful in industry, and solves a market pain › Should be less than three pages. › Note: This section should not include what went wrong

in the project, but what went right, and why. » Use of Funds

› Explain how funds were used throughout the develop-ment of the prototype.

› This should include a bill of materials. » Drawings

› Any CAD models and drawings, as applicable. › Manufacturing Process Sheets. › This should explain how the prototype was manufac-

tured on a part-by-part basis.

Written report


FIRST ROUND JUDGING CRITERIAStudents will be graded on their paper’s professionalism and the manner in which they explain their project. A good project does not simply include a good idea brought to fruition. The SIOY competition will judge the students’ ability to cleverly build and implement their good idea. Competitors will be judged according to the following criteria: » 50%—Engineering Innovation

› Cleverness on how the project was taken from concept to prototype.

› Originality of the implementation will be considered. » 10%—Overall Presentation

› Professionalism, preparedness, and clarity. » 20%—Product Usefulness and Originality

› What is the end use and how it will impact the world. › How unique the product is.

» 20%—Feasibility & Commercialization › How well the prototype can be implemented into the BPC.

Engineering InnovationIt is the ingenuity of the innovation process that will make up the majority of the points. The competition will be won by those who put the most thought, effort and cleverness into the process of developing their product. While simple products can be successful in the marketplace, this competition values a certain level of of engineering complexity.

Overall PresentationStedents will need to demonstrate their ability to present their ideas in a clear, concise way. Overall presentation is worth 10%

Product Usefulness and OriginalityThis competition is a feeder for the BPC, and we want to see it succeed. In order for the product to be a success, it needs to solve a unique problem in society. A successful product would be one that consumers would purchase in order to meet some need in their life. This product must be convincing and unique, putting together uses and functions that didn’t exist previously. If there is little differentiation between this product and one easily purchased on the current market, little points will be given.

Feasibility & commercializationFor the product to be successful, it needs to be able to be manu-factured at a reasonable price. There is no guideline to how much the product should cost, but if the manufacturing cost is more than the price people will be willing to pay, no matter what that price is, then it is not a feasible product. Innovation may come into play in this category. For example: a team may utilize a simple and inexpensive process to accomplish the required results, rather than a process that is more traditional and expensive. This will add to the value of the project for both the innovation, and the feasibility. If the manufacturing cost is much lower than what people will be willing to pay, high points will be awarded in this category.

The prototype fair will be held on BYU campus. The fair will be held in a room that will be able to accommodate all twenty plus competitors. During the prototype fair, each competitor will put their prototype on display, give a brief one minute explanation to the judges, and answer questions of the judges for two minutes. This will allow the innovators to explain the unique processes they followed in creating the prototype and to explain the prototype itself. The judges will be familiar with each proto-type, as they will have read the written report.

If the prototype is not entirely completed, innovators should still bring what they have done to the prototype fair. More points will be awarded to complete prototypes.

**All judging will be done by 3rd party, impartial judges.**

Prototype fair


ROUND TWO FINAL ROUND JUDGING CRITERIA

Presentation

Presentation

A few days after the first round presentations, the firnal presentation event will occurr. This presentation will be four minutes long, and will allow for two minutes of questions. The judges will then rank the competitors, and announce the winners.

Presentation is key if the prototype is to turn into a successful entry in the BPC and later a thriving business. In this competi-tion, the process taken to create the product needs to be ex-plained in a clear and convincing way. The presentation should answer questions such as the following: » What measures were taken to overcome design challenges? » How was something machined or welded in a special way to

gain a special property needed? » How was technology used in a different way than normal to

accomplish a specific need? Furthermore, the slides should be clean and the presenter should be confident and professional as she/he explains their quest to produce their working prototype.

The ten finalists will have their written reports sent to the final judges immediately following their selection. They may, however, create frequently asked questions page to append to their reports which will be given to the judges the night before the competition. This will give them the opportunity to address questions that arose during the first round. The ten finalists should also submit a proposal of expenditure of prize money, if awarded. Those who have ownership to the rights of the proto-type and idea should include preparations for the BPC, a second generation prototype, a provisional patent, or hiring a business student to perform market research or write a business plan. Those who don’t own the rights should tell how they will use the funds to further their education.

Innovators will be judged in a manner similar to the first round. During the final round, innovators will also be graded on their presentation (in addition to the manner in which they carry out their project from concept to prototype). A good project does not simply include a good idea brought to fruition. The innova-tion competition will judge the students’ ability to cleverly build and implement their good idea. Competitors will be judged ac-cording to the following criteria: » 50%—Engineering Innovation

› Cleverness on how the project was taken from concept to prototype.

› Originality of the implementation will be considered. » 20%—Product Usefulness and Originality

› What is the end use and how will it impact the world. › How unique the product is.

» 20%—Presentation › Professionalism, preparedness, and clarity.

» 10%—Feasibility › How well the prototype can be implemented into a new

company or industry. › If applicable, how likely it could succeed in the BPC.


expenditures, similar to a first generation prototype.

A selection committee will be used to approve loans, 30 loans up to $400 in value will be given out. Those who receive approval for the loan will be required to follow certain guidelines, as follows:

» Those accepted will need to keep track of all receipts for items purchased towards the prototype.

» All other expenditures need to be appropriately recorded. » Students must turn in all receipts and remaining funds at the

first round of the competition » All purchases should be made prior to the first round of the

competition. » The prototype should be fully developed prior the competi-

tion. » Only one loan per student. Even if they enter multiple projects. » Students who do not enter the competition are expected to re-

turn the money received fromt he loan. » Students should only apply for as much money as they need. » The application for the loan should justify the amount requested

When the prototype is completed as outlined in the application—and receipts, remaining funds, and record of expenditures are turned in—the loan will be forgiven. If the students do not carry out their project in a satisfactory manner, they will be on their honor to repay the loan.

DisbursementOnce a loan is approved, innovators may begin making appro-priate purchases towards the development of the prototype. The loan will be distributed in the form of a check to the team captain through the dean’s office, room 270 of the Clyde Build-ing. Again, all receipts, a financial log book, and remaining funds

STUDENT LOANS

To help finance the prototype creation, students may apply for a loan, which will be forgiven upon completion of the prototype. There will be a place on the application to indicate if the applicant is interested in receiving a loan. If a loan is requested, an additional application will be required. The loan application will be submitted at the same time as the competition application and will explain the terms of the loan; all a student must do to apply is agree to the terms of the loan. An outline of expected expenditures and a bill of materials should already be submitted as a part of the initial application.

Expenditures to be covered by the loan must be made after the competition and loan applications are submitted. Therefore, if a student spends money towards the development of the prototype before being approved for the loan, the student runs the risk of not being reimbursed if they are not chosen to receive the loan. Expenditures made prior to the application will not be covered or reimbursed by the loan.

If an innovator already has a prototype developed, and feels that a second generation prototype would better fulfill the requirements of the competition, an application for a loan may also be submitted. If approved, the loan would cover prototype


PRIZES

Prize money has been generously donated to help the winning innovators take their successful prototypes to the next level. As stated previously, one of the purposes of this competition is to prepare students to compete in the BPC. It will be ex-pected that the winning students of this competition who own the prototype intellectual property use the funds in preparation for the BPC, and for the development of their future compa-nies. The judges and organizers will not dictate how it is spent, but they expect it to be spent on costs related to furthering the product. Those that don’t own the rights to the prototype/idea are expected use the funds to further their education, and write how they will do so.

Prizes will be awarded according to the judges’ discretion. All decisions are final. Winners may retrieve their awards from the dean’s office secretary the week following the final compe-tition in room 270 of the Clyde Building. The prizes will be awarded according to points received. Amounts of prize winnings are as follows:

Category 1) Category 2)

First Place: $3,000 First Place: $3,000Second Place: $1,500 Second Place: $1,500Third Place: $1,000 Third Place: $1,000

Peery Social Entrepreneurship FellowshipEntries that qualify as a social innovation will also be consid-ered for the Peery SE Fellowship. In addition to the $2,500 prize, the winning team will have the opportunity to be mentored by representatives from IDEO, Benetech, Mulago Foundation and

Catapult Design. One Year Follow-up ReportPrize money is intended to help the inventor further devel-ope His/Her idea. `Innovators that have received prize money should report the further development of their prototype and business to the Ira A. Fulton College of Engineering and Tech-nology. This report could include the following: » Results from participation in the BPC » Further development of the prototype » Work with investors to build a company » Development of patent submissions » How the SIOY competition benefitted the innovators » How the funds were used to further the innovator’s educa-

tion (if I.P. not owned)“The successful person makes a habit of doing the things that an unsuccessful person doesn’t do.”

—Thomas Edison


STUDENT TIPS

If unsure about the prototype idea, students can test them out at the Engineering and Technology Student Venture Factory, where those with ideas present to engineering and business students for feedback and questioning. This is a productive sce-nario as the meeting is NDA blanketed, and students are able to make great suggestions and ask important questions regarding product ideas. This feedback can be used to get ready for the SIOY application.

Students who would like to get involved in the competition, but do not already have an idea, may also come to the Venture Factory, and connect with individuals from other groups who do. Venture Factory is held weekly throughout the year—see etstartup.org for more information.

“I had ambition not only to go farther than any man had ever been before, but as far as it was possible for a man to go.”

—Captain James R. Cook

S » www.et.byu.edu/801.422.4326/270 Clyde Building, Provo Utah 85602

www.etstartup.org

sponsored jointly by:

http://www.etstartup.org

Student Innovator 2011

Documents

Transcript of Student Innovator 2011