Spring 2026 Recap
ABOUT
The Innovation Challenge will bring $225,000 in total funding during the 2026-27 academic year across the University of Iowa's campus. The Challenge is a university-wide competition with the goal to identify, advance and support the most innovative and entrepreneurial projects on campus.
There are two phases to the Challenge:
The first phase, an Elevator Pitch Competition, will be held Nov. 10, 2026. Applications are due October 30, 2026. The second phase, a Business Model Competition, will be held April 2027.
Contact Patti Fields for more information.
This competition is open to all University of Iowa:
- Faculty
- Staff
- Graduate students
- Undergraduate students
- Incubator startups
- UI Program or Academic Alumni (for the Business Model Competition portion ONLY of the Challenge - Spring 2027)
* Regarding student awards, international students are generally restricted due to international tax laws. Since they are not typically allowed to start a business, Iowa JPEC restricts seed funding awards for international students but may offer non-monetary recognition instead.
*We define "Incubator startup" as either participating in the University of Iowa's Research Park, or active alumni members receiving support from the University of Iowa Bedell Entrepreneurship Learning Laboratory.
* We define "University of Iowa Program or Academic Alumni" as either having previously been enrolled as a student at the University of Iowa, or having participated in an Iowa JPEC outreach program. These outreach programs include Venture School alumni, Business Consulting clients, Small Business Development Center clients, Venture Mentoring Service alumni, and businesses who employed a student intern through our Iowa Innovation Associates program. University of Iowa Program or Academic Alumni will be eligible to participate in the second phase of the Challenge, the Business Model Competition, spring 2027.
* Faculty, Staff, Graduate Students, and Incubator Startups: Winners from prior year Innovation Challenge are ineligible to apply for the same or similar project.
* Faculty, Staff, Graduate Students: Successful competition submissions are typically tied to UI research, technology, potential intellectual property, scalable or high-growth potential.
* Undergraduate Students: Winners of prior year Iowa Innovation Challenge are ineligible to apply for the same or similar project.
PHASE 2: BUSINESS MODEL CANVAS COMPETITION
How it works
The second phase of the Innovation Challenge is the Business Model Canvas (BMC) Competition. This competition is based on the methodology of the Business Model Canvas and requires that companies tell their story beginning from the idea stage including pivots along the way. It describes the rationale of how an organization creates, delivers and captures value. The Spring 2027 Business Model Canvas competition is scheduled for April 2027.
This competition will be open to faculty, staff, graduate students, undergraduate students and incubator startups. In addition, the Alumni Category of the competition will be open to UI Program or Academic Alumni.
- If you are an undergraduate student, please see this page for more information and to apply. UNDERGRADUATES.
- If you are University of Iowa Faculty, Staff, Graduate Student, or Incubator Startup, please see this page for more information and to apply. FACULTY, STAFF, GRAD STUDENTS, AND INCUBATOR STARTUPS.
- If you are a University of Iowa Program and Academic Alumni, please see this page for more information and to apply.
NEXT STEPS
Deadline to enter is October 30, 2026.
Spaces are limited to compete, apply now.
BUSINESS MODEL CANVAS
The Business Model Canvas is a tool to help entrepreneurs walk through what it takes to start a business. This video walks you through that process to help you build a successful business.
GET A JUMPSTART
Get a jumpstart on the competition! Check out our Innovation Training page for videos and worksheets from experts with quick and easy tips to help you succeed in competitions and take your idea to the next level.
JUDGING CRITERIA
Developing your pitch...the following is criteria on which your pitch will be judged:
Identify Problem Did they identify the problem? Provide evidence it exists?
Identify Solution Did they identify the solution and the value it presents?
Feasibility How easily could idea be implemented? Do they understand the resources necessary?
Delivery/Engagement Are they passionate about the idea? Was the presentation engaging?