FAQ
What are the goals of the $50,000 Intellectual Ventures-Caltech Invention
Competition?
The $50,000 Intellectual Ventures-Caltech Invention Competition, which
seeks to serve as a catalyst for budding inventors, is awarded to
inventive undergraduate or graduate students at Caltech. The award
publicity can expose winners to science, business, and investment
communities, which often results in the further development of their
careers through invention. First prize is $25,000.
Who is eligible to apply?
The competition is open to all Caltech undergraduates and graduate
students who will be enrolled full-time during the fall semester 2013.
Contestants must be present for judging and the awards ceremony to collect
their prizes. Students may form teams with other full-time undergraduates
or graduate students from Caltech. Small interdisciplinary teams are
encouraged. Each team member must provide a description of their
contribution.
Who owns my invention?
If the invention is not based on work done with Caltech resources, you own
the invention. If the invention is based on research ongoing at Caltech,
or otherwise falls under the Patent Policy, Caltech owns the invention. In
either case, OTT will submit a "cover sheet" provisional patent
application on the submitted materials.
What should my application contain?
Your application should be less than five pages and include the following
information:
- Abstract - One paragraph describing the invention.
- Field of invention - Description of the general field of use of the
invention (also give examples of the invention's application).
- Background - Describe the state of the art. (Describe what is currently
being done and what is not.)
- Detailed summary of the invention, with drawings if necessary. The
summary must be easily understood by the judges.
- Inventive Features - Describe which aspects of the invention, in
particular, are novel.
- Potential Applications - Describe potential applications of the
invention, who would want to use it and why.
When is the deadline to apply?
October 15, 2013 What criteria are used to judge the candidates?
As long as your entry meets all of the requirements it will go into the
judging process as an Active Entry. A panel of judges will evaluate the
Active Entries.
Decisions of the judges are final.
These criteria will be weighed as follows:
40% Originality, Novelty, and Creativity of Idea
30% Utility and Importance of Idea
10% Completeness and organization of application materials
10% Quality of application materials
10% Quality of oral presentation
The judges will evaluate each of the Active Entries based upon the
criteria. Five (5) finalists will give 5 minute presentations on their
invention in November, 2013. Finalists must appear for the presentation to
be eligible for the grand prize. A winner from the Finalists ("Winner")
will be selected.
Questions?
Contact Mary Beth Campbell at marybeth@caltech.edu
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