Frequently Asked Questions
InnoVention is not a submit, judge, win competition. It functions more as an accelerator than a regular competition. Through hands-on workshops at each local campus, you will be taught the core concepts behind creating a team, building a product, managing mass production and scaling, developing financial and operational strategy, and pitching your venture. Additionally, there is a $25,000 award for the grand prize winner including pro-bono legal work and mentorship.
Who is eligible to participate?
The competition is open to all NYU students, both graduate and undergraduate, interested in being a part of a team. Faculty members are also welcome to join a team or multiple teams to provide technical and industry expertise to the students.
What level of experience is necessary for the competition?
If you are reading this, you’re in the right place. We will help you with the ideation, product development, customer validation, and technical support process.
Can I compete as an individual?
The minimum team size is 2 people. Each prototyping competition at each NYU campus will have teamhunt events to help you find a teammate.
Do I get all the prize money right away?
The winning team will get a $$$ award to help development of their concept with support of the University. The remaining $$$ is awarded upon the completion of milestones.
Does NYU own my idea since it is a university competition?
No, NYU does not own your idea. The idea, prototypes, and other materials are completely yours.