INNOVATION CHALLENGE
HOW IT WORKS
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. 9-10, 2026. Applications are due October 31, 2026. The second phase, a Business Model Competition, will be held in Spring, 2027. Applications will be open for this phase at the beginning of the 2027 Spring Semester, with a deadline to enter April 1, 2027.
This competition is open to all University of Iowa:
- Faculty
- Staff
- Graduate students
- Undergraduate students
- Incubator startups
KEY DATES
Application deadline: October 30, 2026
Undergraduate competition: Monday, November 9
University of Iowa Faculty, Staff, Graduate Student, or Research Park Startup competition: Tuesday, November 10
Awards Reception: Wednesday, November 11
KEY DETAILS
Undergraduates
4-minute pitch with slides | 5 minutes of Q&A with judges
Grad/Faculty/Staff
5-minute pitch with slides | 10 minutes of Q&A with judges
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?
QUESTIONS?
Contact Patti Fields for any questions or additional coaching needs.
ELIGIBILITY INFORMATION
* 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 "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 2025
* 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.