The Rowan Innovation Venture Fund and The Center for Innovation and Entrepreneurship held its third annual idea challenge for students last Friday. The goal of the presentation was to promote student applications and initiatives, as well as critique the students on what needs improvement.
Throughout the two hour presentation, nine groups of students each promoted and explained their products to a group of judges who scored them based upon the usefulness of the product, the applications for it and how the students intend to sell their product. After the scoring concluded, the grand prize winners were awarded $7,500 to help their idea move forward.
Among the ideas presented were a photo app allowing professional photographers to meet customers at certain locations for affordable head shots, a bike design company that created a unique tall cruiser bike and a travel app allowing for a more personalized experience with a tour guide.
After the judges evaluated each of the nine workshops, Light Analytics won the grand prize, with Sun Runner and Frankencycle winning second and third place, respectively.
Biological science major Cameron McCoulsky was one of the grand prize winners of the event for Light Analytics. Although he was glad about his group being the winners, it was no easy task.
“The most difficult part was making something that’s a complicated physics science and bringing it to the average level so that everyone can understand it,” McCoulsky said.
Howard Lubert, a private equity professional who runs the Rowan Venture Fund, over-saw the presentations and judging of the event. He was pleased by what he saw throughout the presentations.
“The reason the initiative exists today is to encourage students to build different working teams in different colleges that bring different skill sets to the table,” Lubert said. “Which in my opinion, creates a greater chance into making that idea into a workable business and it creates a stronger ecosystem for students that want to be in business.”
The money that Light Analytics won will help move their idea further into the future and possibly create a workable business after their college careers.
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