July 21, 2011 by Janet Perez, NMSU News Center
If you have a good idea for a product or technology, you could win some valuable help in turning your concept into a viable business.
Arrowhead Center’s Technology Incubator at New Mexico State University is holding its first Innovation Incubation Competition. The competition is aimed at converting innovative ideas and technologies into successful commercial ventures. The winner will receive one year of furnished office space in the incubator, which currently is being renovated. Along with the office space, the winner also will receive business acceleration services. The package is worth approximately $7,500.
The competition is open to New Mexico State University faculty, staff and students. A jury made up of entrepreneurs and private investors will select the winner. The winner will be announced at the Third Annual National Security Technology Conference & Expo on Sept. 12, at the Las Cruces Convention Center. The deadline for submissions is Aug. 29.
“There is nothing more rewarding than working with technology developers to create and grow their business,” said Garrey Carruthers, dean of the NMSU College of Business and vice president for economic development. “The Arrowhead Technology Incubator has assisted dozens of businesses in the area and we are excited to offer this opportunity to our faculty, staff and students.”
There are four categories of criteria the judges will consider when reviewing applications.
Product Idea and Market Need
The product or technology should have the potential to break new ground in its field.
The product or technology should meet an identifiable need and have a realistic competitive advantage.
The product or technology should be ready for market within a realistic (i.e., fundable) timeframe.
The innovator must present a reasonable need for incubator space and services at the Arrowhead Center.
The Arrowhead Center promotes business and economic development in New Mexico. Founded in 2004, the not-for-profit has completed more than 200 business research projects involving more than 300 undergraduate and graduate students, and completed several state-level economic studies. It also fostered the spin-off of a university genetics-testing laboratory that resulted in a new, for-profit corporation.
For more information on entry rules, eligibility and to register, please log onto arrowheadcenter.org.