Entrepreneurs and start-ups invited to enter third annual royalty-free pitch competition

BEDFORD, Ind. (May 9, 2022) – Entrepreneurs, inventors and start-ups can pitch innovative proposals to southwestern Indiana defense and economic development industry leaders on June 28 at Radius Indiana’s third annual virtual “Crane IP Defense Innovation Pitch Competition” with royalty-free IP. 

The competition offers unprecedented, royalty-free opportunities to commercialize the patented technologies and concepts developed at Naval Surface Warfare Center-Crane Division, Indiana’s only federal research laboratory. Individuals or teams are invited to develop an innovative proposal using any piece of intellectual property available from NSWC Crane’s Technology Transfer Program.

“This is a great opportunity for entrepreneurs to explore moving tech from the lab and into the marketplace and we’ve had a lot of success with this competition in the past,” said Jenna Dix, technology transfer director for NSWC Crane. “Initiatives such as this are demonstrative of the innovative culture and entrepreneurial ecosystem that exists within the Radius region.”

The competition is hosted by Radius Indiana, in coordination with Elevate Ventures, Naval Surface Warfare Center-Crane Division, Bloomington-based Mill, Indiana Innovation Institute, and the Indiana Small Business Development Center. Entrepreneurs will have the opportunity to connect with industry leaders from these organizations, and cash prizes totaling $12,000 will be available to the top three contestants. Additional prize funds will be available for competitors with locations in the Radius region of southern Indiana. 

“Radius Indiana is looking forward to the third annual Crane IP Pitch Competition and we are excited to see entrepreneurs pitch us their ideas for using this amazing technology coming out of NSWC Crane,” said Blaine Parker, director of entrepreneurship and small business support for Radius Indiana. “The winners from past years have gone on to do great things with their new relationship with Crane.”

The pitch competition is being held in conjunction with PROPELS Accelerator, a Mill program offering instruction on how to commercialize cutting-edge technology developed at NSWC Crane. The program takes place over six weeks and focuses on a full business development plan with support from experts in defense and entrepreneurship. Registrants participate in a demonstration at the end of the session and are then encouraged to pitch their idea at the Radius Indiana Crane IP Pitch Competition.

“The Mill couldn’t be happier to support the Radius/Crane IP Pitch Competition as a sponsor with a commitment to expanding our entrepreneurial ecosystem. We’re currently helping folks in our PROPELS Accelerator develop commercialization plans around Crane IP, and the Radius competition is their best next step. This event really unleashes the potential of cross-sector collaboration and innovation around top-notch IP,” said Andy Lehman, head of accelerator programming at the Mill. 

The competition is free for participants. Entrants will receive a template to create a slide presentation for the competition. 

The registration deadline is June 17. Visit www.radiusindiana.com to learn more and register for the competition. 

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About Radius Indiana: Radius Indiana is a regional economic development partnership representing eight counties in Southern Indiana: Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Orange and Washington. Formed in 2009, Radius Indiana also serves as a point of contact in Indiana for Naval Support Activity Crane and leads regional collaboration by leveraging the diverse assets of Southwest Central Indiana to drive attraction, retention and expansion of business, thereby increasing employment and investment opportunities and quality of life within the region.

About NSWC Crane: NSWC Crane is a naval laboratory and a field activity of Naval Sea Systems Command (NAVSEA) with mission areas in Expeditionary Warfare, Strategic Missions and Electronic Warfare. The warfare center is responsible for multi-domain, multi- spectral, full life cycle support of technologies and systems enhancing capability to today’s Warfighter.

About Elevate Ventures: Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-growth businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term. To learn more about Elevate Ventures, visit elevateventures.com.

About Indiana Innovation Institute: IN3 (Indiana Innovation Institute) works with academia, industry, and government to create a hub of national security innovation that helps solve critical defense priorities. IN3 connects regional, state, and national partners through a variety of means including convening research and business teams to solve emerging technical challenges for the Department of Defense. IN3 is focused on hypersonics, cyber-physical systems, trusted microelectronics, artificial intelligence and 5G. Learn more at www.in3indiana.com and follow us on Twitter @IN3indiana and LinkedIn.

About Indiana Small Business Development Center: The Indiana SBDC creates a positive and measurable impact on the formation, growth, and sustainability of Indiana’s small businesses by providing entrepreneurs expert guidance and a comprehensive network of resources. To learn more about you can access free resources through the ISBDC network, visit us at www.isbdc.org. 

About The Mill: The Mill’s mission is to spark Bloomington’s innovation economy by launching and accelerating startups, and its vision is to become Indiana’s center of gravity for entrepreneurship. For more information on Crossroads Collegiate Pitch Competition, visit https://crossroadscollegiate.com/.