Intel launches program with $100K monthly awards for young innovators
Starting today, technology entrepreneurs between the ages of 18 and 24 who are seeking exposure and capital for their ideas have a new avenue for that: the Intel Innovators program.
A Facebook-based platform that began accepting submissions today, the Intel Innovators program will award a total of $100,000 in prize money each month for the top tech ideas.
At the beginning of each month, a panel will pick 20 top ideas (see submission guidelines below), which are then put up for a public vote. By month's end, the five entrepreneurs whose ideas earn the most support from voters will be given three minutes to present their idea to an expert panel of judges that includes startup and technology experts from Ron Conway’s SV Angel firm, seed investor Betaworks and Intel Capital. The panel will choose one innovator to be awarded $50,000 and become an Intel Innovator. A top fan will then decide how to award an additional $50,000 — either to the winning innovator or to one of the other four finalists. The process restarts every month.
More information on the program is available at intelinnovators.com. The basic eligibility requirements and submission criteria, per the Intel Innovators page on Facebook, are below.
- Legal residents of the U.S. between the ages of 18-24.
- Reside in the 50 United States or District of Columbia.
- Technology must live at the core of every idea.
- The idea can make the world a better place.
You'll need to prepare the following for your idea submission
- Title for your idea in 30 characters or less.
- Description of your idea in 500 characters or less.
- 30-second video that explains the idea and how it is game-changing.
Additionally, you will need to answer the following questions:
- What role did the personal computer play in your idea?
- What impact does your idea have on society?