By News and Internal Communications

RIO GRANDE VALLEY, TEXAS – OCT. 17, 2023 – The UTRGV Center for Innovation and Commercialization (CIC), a division of the Robert. C. Vackar College of Business and Entrepreneurship, will hold the finale for its Fourth Annual Big Idea Competition Wednesday, Oct. 18.

This Shark Tank-like event will be held in Weslaco at the CIC facility, located at 307 E. Railroad. The Big Idea Competition, open to UTRGV students and RGV community members, is an opportunity for local aspiring entrepreneurs to pitch their unique ideas for a product, business, or service for the chance to win up to $1,500 in seed money that could help turn their idea into a reality. 

Community members and students interested in entrepreneurship are encouraged to attend the exciting competition finale to get a glimpse of the future of innovation in the Rio Grande Valley.

From a pool of more than 70 total applicants, 20 were selected as the finalists for the two categories: one comprised of students and the other of community members. The finalists are then paired with one of 13 local entrepreneurs to serve as their competition mentor, providing support and guidance as competitors create their pitch decks for the finale.

Waaed Khuffash, a Mechanical Engineering major at UTRGV and the 2022 Big Idea Competition winner, said winning the prize money last year helped her take big steps toward bringing her idea to life. Khuffash's idea "Expander," which not only took first place in the student category but earned her a spot competing at the 2022 national competition in the Health & Life Sciences category, was an alternative to braces and Invisalign that would assist in correcting craniofacial dystrophy or improper facial growth, addressing symptoms such as crooked teeth, TMJ, and sleep apnea.  

“I really want to make a change, and I really want this device to exist here in the Valley and in the U.S.," Khuffash said. "It meant a lot to me that the audience appreciated what I had to say and that they wanted to fund my project. Now I can get started, I can talk to experts, and I am so excited to start prototyping.”

The first-place winners in each category will be selected by a panel of 12 judges and will be rewarded with prize money in the amount of $1,500. Additionally, special categories have been named by the Blackstone LaunchPad institution, of which the top winners for each will receive $500 and – most significantly – qualify to compete in the national Blackstone LaunchPad Ideas Competition, where they will compete to win up to $10,000 to help start their ventures. The competition will be held virtually and consists of finalists submitting their pitch decks to be reviewed remotely by a select group of esteemed competition reviewers. National winners will be announced within a month after the UTRGV's regional competition.  

The 2023 Big Idea Competition was made possible by Blackstone LaunchPad, Chair and Associate Professor of International Business and Entrepreneurship Dr. Russell Adams, and UTRGV’s own Blackstone LaunchPad: the Center for Innovation & Commercialization.

To RSVP for the 2023 Big Idea Competition finale, visit https://loom.ly/EK2q_xQ.

ABOUT CENTER FOR INNOVATION & COMMERCIALIZATION

The Center for Innovation & Commercialization is UTRGV’s own Blackstone LaunchPad. This center seeks to promote economic growth in the Rio Grande Valley by assisting regional entrepreneurs in the ideation, development, and acceleration of new business ventures and by developing the next generation of RGV entrepreneurs through experiential learning opportunities in new venture creation for students. Upcoming opportunities for students and local entrepreneurs include the Big Idea Competition Finale on Oct. 18, the Lunch & Learn Entrepreneur Speaker Series beginning Oct. 19 and continuing through the following three Thursdays, and the Business Plan Competition coming Spring 2024.  

ABOUT BLACKSTONE LAUNCHPAD

The Blackstone LaunchPad network makes entrepreneurship and entrepreneurial skills accessible and relevant for all college students to help them build thriving companies and careers. We work with higher-ed institutions to deliver proven startup resources, facilitate access to a global network of mentors and advisors, and offer unique virtual and physical convening opportunities so thousands of diverse college students can go further, faster. Students learn by doing, gaining knowledge and critical skills to help them succeed as a founder or contributor to the innovation economy. LaunchPad’s ever-expanding network encompasses campuses with predominantly underrepresented populations.