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Entrepreneurs, inventors and start-ups invited to participate in second royalty-free pitch competition

BEDFORD, Ind. (April 8, 2021) – Entrepreneurs, inventors and start-ups can pitch innovative proposals to southwestern Indiana defense and economic development industry leaders on June 23 at Radius Indiana’s second annual “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 for one of the intellectual property areas selected for the competition.

“Our desire is that businesses and entrepreneurs will be able to make use of these technologies, which will ultimately lead to job creation and economic growth,” said Jenna Dix, technology transfer director at NSWC Crane. “The engineers and scientists at Crane create valuable technology to help the men and women who protect our nation, and we would love to see this technology be applied to increase innovation in our communities.”

The competition is hosted by Radius Indiana, in coordination with Elevate Ventures, Naval Surface Warfare Center-Crane Division, 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 $7,000 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 continues to make important investments in small business and entrepreneurship,” said Keeley Stingel, vice president of innovation and economic development at Radius Indiana. “The continuation of the pitch competition and the strength of the relationships between our partners positions our region and defense ecosystem to attract top talent and emerging technologies.”

Virtual informational sessions given by NSWC Crane’s Technology Transfer program on April 29 and May 11 are available for participants in advance of the competition. The sessions will provide an overview of available technologies and highlight opportunities for engaging with Crane, and include an introduction to Crane’s IP portfolio. Participants can also receive individual coaching sessions through the resources of Elevate Ventures and ISBDC. 

“Pitch competitions give entrepreneurs valuable feedback, new connections, and increased confidence ahead of future ventures,” said Hunter Hawley, the winner of Radius Indiana’s 2019 regional pitch competition and CEO of Blueprint Stats. “Radius delivers all three in this event, and the environment is fun, supportive and competitive.”

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

The registration deadline is June 1, 2021. 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