The Entrepreneurial Challenge
Spark What’s Next™
Submit Your Idea. Eligable to Win $25K Cash. Collaborate with an Industry Leader.
Sikorsky Innovations, the advanced research organization of a world leader in vertical flight solutions, is looking for your ideas! Through the Entrepreneurial Challenge, the organization identifies potential collaborators that can help solve some of the toughest industry challenges.
Awardees will gain entry to an extensive network of technical experts, business mentors, strategic team members, potential customers and experienced investors.
The Winner of the competition will be eligable for a $25K non-dilutive cash prize.
Winners of the Entrepreneurial Challenge will also have the opportunity to:
- Collaborate with Lockheed Martin to validate their products and explore opportunities.
- Leverage the resources and network of Lockheed Martin's Open Innovation Portfolio, presented by Sikorsky.
- Access mentoring program, education workshops, and events across connecticut's entrepreneurial network, CTNEXT.
- Receive an investment evaluation from the Lockheed Martin Entrepreneurial Panel following incubation, led by Sikorsky.
Most of all, Winners and Awardees of the Entrepreneurial Challenge will be able to leverage Lockheed Martin's industry knowledge and relationships. In addition, Sikorsky reserves the right to name to other classes of award winners: Special Recognition and Honorable Mention. These two classes of awardees will also have the opportunity to work with Sikorsky to explore opportunities. All prizes and awards are subject to the Terms & Conditions found in the Application Package.
2018 Focus Areas
2. High Performance StructuresBackground
3. Control Methods for Dynamic Unstable Flight Background
4. Real Time Insight into Factory PerformanceBackground
Frequently Asked Questions
- I’ve read through the Entrepreneurial Challenge Application Kit, and I am confused what to submit. I am correct that the first round application is only a 5 page white paper with business summary? Yes, a 5 page summary that conforms to the requirements outlined in the Entrepreneurial Challenge Application Kit is the requirement for the first round application. It is the intent of the Entrepreneurial Challenge to locate cutting edge products with a substantiated business plan, so emphasis in both the first and final judging round is placed on the team’s understanding of the technology/product and commercialization strategy. No formal business plan will be evaluated by the judging panel.
- I work at a large company as part of small team. The team has a revolutionary product still in development or not currently on the market that could have a strong application to Lockheed Martin's current or future products. Should I apply? Yes, individuals and teams that have a disruptive technology or process are encouraged to apply to the Entrepreneurial Challenge, whether they work as part of a standalone entrepreneurial startup or as part of a Fortune 500 company. The passion, commitment, and risk-taking leadership traits that define an entrepreneur are not limited to those working in small companies, and the intent of the Entrepreneurial Challenge is to identify and support revolutionary ideas wherever they are being developed. As long as your team meets the requirements defined in the Entrepreneurial Challenge Application Kit, you are eligible to apply to the Challenge.
- My company has a product with potential benefits to Lockheed Martin, but it is currently being offered as a Commercial Off-the-Shelf (COTS) solution. Is there an opportunity for us to work with Sikorsky? Yes, Lockheed Martin and Sikorsky Innovations (part of Lockheed Martin's RMS division) engage with companies of all sizes that offer novel technologies and services. If you are a business with an existing product that does not qualify for the Entrepreneurial Challenge, but is not yet a part of Lockheed Martin's products or services, please contact us at email@example.com so that we can learn more about the opportunity.
- I am a current college student that is trying to start a company, but I am not currently spending a full time equivalent on my idea. If my team is a new entrepreneurial venture, and winning the Entrepreneurial Challenge would allow us to start working on our idea, can we still qualify? Yes, teams may do so. The rule is intended to convey that all applicants must be willing to dedicate a full time person to their venture if selected. However, if your team does not have a full time equivalent person developing the idea, clearly state so in your application and explain the reasons for that. As the judging criteria in the Entrepreneurial Challenge Kit indicates, first round applications will be strongly judged on the competency of the assembled team, a category that would be given additional consideration if the venture is still maturing. All teams are strongly encouraged to show in their application that their team has both the management and technical experience necessary to mature and commercialize their offering.
- Can international applicants apply to the Entrepreneurial Challenge? Yes, any team that meets the requirements of the Entrepreneurial Challenge (as outlined in the Application Kit) is eligible to apply. International applicants do not need to have a U.S. based subsidiary in order to apply.
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