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Salt Lake City —Grow Utah Ventures has announced the kickoff of its Concept to Company Consumer Products innovation contest, which will award $25,000 in cash and services the person with the winning consumer product idea.
The Consumer Products Concept to Ccompany contest is open to all new consumer product inventions that are tangible and require some degree of manufacturing. The products can be suited for any number of markets, including outdoor recreation, household use, tech gadgets and more.
"One of our often overlooked sectors in Utah is engineering and manufacturing,” said T. Craig Bott, president and CEO of Grow Utah Ventures. "Utah has unique expertise and great capacity in this sector and we are so pleased to dedicate this event to those who innovate and make great products. Anyone with a new product idea, and the drive to build it, should apply."
From among the applicants, a group of eight finalists will be selected to pitch their ideas in front of a panel of judges Sept. 18. Judges will be company executives, investors, and experts with vast experience building and selling products. Later that day, the general public will also be invited to view the finalists’ ideas and vote on their favorite.
Out of the finalists, three winners will be chosen and awarded prizes. The grand prize winner of the contest will receive $5,000 in cash and $7,500 in services. The two runners-up will each receive $2,500 in cash and $3,750 in services. A "crowd favorite" winner will also be awarded $500 in cash.
The cash prizes will be funded by the NorthFront Business Resource Center and SEED Weber-Davis-Morgan. "The sole purpose of NorthFront and SEED is to support business creation in northern Utah," said Steve Cloward, executive director of the NorthFront Business Resource Center & SEED member. "We strongly support entrepreneurs in Northern Utah and are pleased to commit the prize money to the winners," he added.
Applications for the Consumer Products Concept to Company contest must be received by August 31. The finalists will pitch their ideas on September 18 at a public event at the NorthFront Business Resource Center.