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       The Sikorsky Entrepreneurial Challenge

The Entrepreneurial Challenge is a competition held by Sikorsky Innovations to highlight and support revolutionary ideas, ventures and innovators with applications to aerospace and beyond. Sikorsky is looking for agile technology leaders across all industry domains that embody the entrepreneurial spirit, passion, and management style to complement the qualities of an established industry leader and creatively address the toughest problems in vertical flight. Individuals or teams incubating new ideas around the globe, whether working in a garage or in a Fortune 500 company are encouraged to apply.

Sikorsky Innovations is continuing its search for game changing ideas in the 5th Entrepreneurial Challenge. Whether your product can enhance Sikorsky's core business or create opportunities in new markets, the Entrepreneurial Challenge is used to identify future potential partners and increase collaborative efforts between technology leaders and a world leader in vertical flight solutions. Selected awardees will join an extensive network of technical experts, business mentors, strategic partners, potential customers, and experienced investors working together to Spark What's Next™.
 
The Prizes
Winners of the Entrepreneurial Challenge will have the opportunity to:

  • Collaborate with Sikorsky to validate their product and explore partnership opportunities
  • Leverage Sikorsky's industry knolwedge and relationships to potentially grow their client base.
  • Be incubated in the Stamford Innovation Center with free workspace and use of their shared business services for up to one year. (optional)
  • Access mentoring program, education workshops, and events across Connecticut's entrepreneurial network, CTNEXT, for one year.
  • Receive an investment evaluation from the Sikorsky Entrepreneurial Panel following incubation.


Challenge Schedule

The current deadlines for the Challenge are as follows:

 May 14, 2014
Challenge Questions Released
 October 3, 2014 (5PM EDT)
Application Period Ends
 End October, 2014
Final Round Contestants Notified
 Mid-November 2014
Final Round Competition at Sikorsky
 January 2015
Awardees Notified
   


Current Challenge Questions

How can your offering...

  1. Utilize vertical flight to better serve or create new markets?
  2. Revolutize aircraft parts and system tracking?
  3. Utilize wearable computing or mobile devices to improve the travel experience?
  4. Augment or improve repairs and maintainence?

Frequently Asked Questions

  1. I’ve read through the Entrepreneurial Challenge Application Kit, and I am confused. I thought this was a business plan competition. I am correct that the first round application is only a 5 page business summary? 

    Yes, a 5 page business 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.
  2. My product applies to one of the Challenge Questions, but my business is based away from the New England area. Do I have to be willing to relocate?  

    No, relocation is not required. It is however suggested and considered valuable to have at least part of your team in Stamford, Connecticut. Relocating allows the contestant to derive the most benefit from the collaboration, given the close proximity to Sikorsky world headquarters. Moving to Connecticut also provides access to the Northeast innovation community, potential private and state funding, mentors, and workshops to help accelerate your business. It will not be considered when judging your submission, but please state in your application if you believe your team will not take advantage of the relocation option.
  3. 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 Sikorsky’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.
  4. My company has a product with potential benefits to Sikorsky, 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, Sikorsky and Sikorsky Innovations 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 Sikorsky’s products or services, please contact us at EChallenge@sikorsky.com so that we can learn more about the opportunity.
  5. 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.
  6. 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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