Business Community News

Radius Indiana Hosts Royalty-Free Pitch Competition

Ten Crane technologies available for entrepreneurs, inventors and start-ups

BEDFORD, Ind. (July 8, 2020) – Radius Indiana, in coordination with Elevate Ventures, Naval Surface Warfare Center-Crane Division, and the Indiana Small Business Development Center, will host the region’s first “Royalty-free IP Pitch Competition” July 30. Winning entries will share in cash prizes totaling $5,000.

The competition offers unprecedented, royalty-free access for those who seek to commercialize patented technologies and concepts developed at NSWC Crane-Indiana’s only federal research laboratory. Radius Indiana and Crane leaders hope that businesses and entrepreneurs will use these technologies to support new jobs and economic growth.

Individuals or teams are invited to develop an innovative proposal for one of 10 intellectual properties (IP) selected for the competition. Subjects range from drone tracking, to battery charger and power reduction systems, to Tunable Detection Systems and Hyperspectral Imaging. Descriptions of the IP can be found on the Radius Indiana website.

“The engineers and scientists at NSWC create these solutions to solve problems encountered by the men and women protecting our nation, but many of these also can apply to the needs of everyday life for people anywhere,” said Jeff Quyle, Radius president and CEO. “We hope that our pitch competitors will produce ‘win/win’ results: a practical application of the technology to make life better, and a new business that can grow here among our communities.”

There is no cost to register and entrants will receive a template to create a slide presentation for the competition. In addition, virtual coaching sessions will be offered July 14, 15, and 16 to pick up pointers on delivering the best pitch, and individual coaching sessions will be available for each participant through the resources of Elevate Ventures and the Indiana Small Business Development Center.

“Programs like the Crane IP pitch competition provide a chance for founders, students, and faculty to innovate around strong intellectual property to create new innovation-driven technology companies in Indiana,” said Landon Young, director of university initiatives and entrepreneur-in-residence at Elevate Ventures. “We are excited to be a part of this event and are eager to see the proposals the applicants come up with.”

The deadline for registration to participate is July 13, 2020. The pitch competition will be held virtually on July 30 from 10 a.m. to 4 p.m., Eastern Daylight Savings Time.

To register, visit radiusindiana.com.

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