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Students and faculty from disciplines across campus are invited to form teams to represent The University of Akron in the 2012 Clean Energy Challenge sponsored by the U.S. Department of Energy. An information session about the competition will be held on Friday, Oct. 21, from 11 a.m. to noon in Student Union 335.

Teams competing in the Student Challenge of the Clean Energy Challenge will vie for a $100,000 grand prize, and an opportunity to compete in the U.S. Department of Energy's first-ever national business competition for university students. Eligibility is limited to applicants from Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Kentucky and Wisconsin. One team will receive the $100,000 grand prize and move on to compete in the national contest in Washington, D.C., in summer 2012.

Teams require varied expertise

°µºÚ±¬ÁÏ students and faculty in all departments of the College of Engineering as well as physics, chemistry, biology, business, law, and polymer science and polymer engineering are invited to participate.

From Nov. 1 through Dec. 5, teams can submit their applications through the . For more information, contact Dr. Ajay Mahajan, associate dean of research in the College of Engineering at majay@uakron.edu, or Barry Rosenbaum, a senior fellow with The University of Akron Research Foundation, at barry@uakron.edu.

Teams will work closely with the technology transfer offices at their schools to identify a technology around which to develop their idea. As part of the application process, teams will provide the following:

• Brief executive summary describing the problem, the solution, the market;
• Preliminary commercialization plan;
• Link to a 3-minute investor pitch; and
• Brief resumes of each team member.

Preference will be given to teams that demonstrate a clear commitment to entrepreneurship and energy innovation.

Application Content Recommendations

Company Background:

• Describe the value proposition of your business in 50 words or less.
• What is the problem statement and how does your technology solve the problem?
• Describe the market opportunity in 50 words or less.
• Briefly describe the competitive landscape.
• What existing technologies will you compete with, and how is your technology different and better than the competition?
• Briefly evaluate the strengths and weaknesses of your team.

Your team should have individuals with complementary business and technical skills. Please briefly address any gaps in skills and/or experiences among your team members and plans to address those deficiencies. Have you engaged outside advisers/mentors?

Team member information

Please answer the following questions for each team member:

1. Name
2. Phone
3. E-mail
4. University affiliation
5. Academic History — briefly highlight any other relevant experience, including technical credentials, entrepreneurial experience, or other business experience.
6. What are you looking to accomplish through participation in this program?

Intellectual Property: Describe the intellectual property (IP) required. Teams that are licensing technology from a university must have written approval from the technology transfer office. Teams that are licensing a technology from the Department of Energy must have written approval from the licensing officer responsible for the IP in question.

Executive Summary Submission

Teams are asked to provide a three-page executive summary of their business concepts. All attachments must be uploaded in PDF form. A good plan will answer the following questions:

1. Description of the product or service: Did the applicant present a clear description of their technology? Did the applicant convey the value proposition of their business? Does the technology leverage the strengths or natural resources of the Midwest?
2. Feasibility: Did the applicant present a viable business model? This includes a demonstrated understanding of the quantity and use of funds needed to achieve successful commercialization of the technology. Are there potential problems with intellectual property ownership/licensing? Is the business sustainable, even if the business does not fit the venture capital model? Did the applicant clearly describe potential regulatory barriers to commercialization and/or adoption of the technology?
3. Market Opportunity: Did the applicant identify a market of sufficient size potential of the technology? Did the applicant demonstrate a strong understanding of the competitive landscape? Did the applicant clearly communicate the strength of their technology over their competition?
4. Management: Does the applicant have a strong management team? Does the team have a relevant mix of experience? (e.g. technical, policy, business) Did the applicant address the weaknesses of their management team and do they present a credible strategy to address those weaknesses?