Arctic Innovation Competition offers cash for good ideas

Submitted by Tammy Tragis-McCook
Phone: 907-474-7042
09/16/09

The University of Alaska Fairbanks School of Management will award more than $18,000 in cash through its inaugural Arctic Innovation Competition.

The competition awards cash to entrants who propose new, feasible and potentially profitable ideas.

The competition originated from UAF professor Ping Lan’s research on ways to stimulate, package and trade innovative ideas. Lan has incorporated the competition into his graduate-level technology management class. Additional graduate students work on the contest through a committee that assists with promotion, logistics and idea screening.

"The Arctic Innovation Competition aims at engaging the public to generate new, useful ideas for commercialization," Lan said. "Alaska’s economy relies heavily on natural resources and should consider more creative components. Good, simple ideas can solve real-life problems."

The competition is open to the public and there is no entry fee. Individuals or groups with an innovative idea for solving real-life problems and challenges are encouraged to enter. Thirteen winners will be selected to receive cash prizes ranging from $10,000 to $100. After the initial screening process, finalists will present their ideas to judges Oct. 23 from 3-6 p.m. in the UAF Wood Center ballroom. The public is invited to attend.

More than 60 ideas have already been submitted to the competition from all over the world and more are expected by the end of the month. The deadline to submit an idea is Oct.1, 2009. More information is available online at www.arcticinno.com or by calling Lan at 907-474-7688.

CONTACT: Tammy Tragis-McCook, director of development and outreach, School of Management, 907-474-7042 or tammy.tragis@alaska.edu.

TT/9-16-00/043-10