Student Startup Teams from Nine New Jersey Universities Compete To Be Named Most Innovative New Venture
The ninth annual UPitchNJ, an innovative statewide collegiate business model competition showcasing the Garden State’s top young talent, will be held Friday April 19 at the New Jersey Institute of Technology in Newark from 10:00 a.m. to 2:00 p.m. Sponsored by Nokia Bell Labs and hosted by the entrepreneurship education programs at participating colleges and universities, the event is free and open to all students, faculty, alumni, friends, and the public. UPitchNJ will be held in Ballroom A (on the second floor) of the NJIT Campus Center. Click HERE for a map of the NJIT Campus and campus parking.
Nine colleges and universities are participating in the 2024 competition: Drew University, Fairleigh Dickinson University, New Jersey Institute of Technology, Princeton University, Ramapo College of New Jersey, Rutgers University/New Brunswick, Rutgers University/Newark, Seton Hall University and William Paterson University.
Nine student teams, representing each of the participating universities, will pitch their startups to a panel of judges as they compete for cash prizes. The judges are from Nokia Bell Labs Solutions Research: Thierry E. Klein, President Bell Labs Solutions Research, Amine Houyou, Head of Integrated Solutions & Experiences Research Lab, Jani Kangas, Director of Strategic Innovations, Sean Kennedy, Head of AI Research Lab, and Volker Hilt, Head of Systems Architecture and Solutions Design Research Lab.
Student teams will be judged on the innovation and originality of their startup idea and the quality of their oral presentations. The contest judges will also be looking for creative and innovative thinking about markets, products and services. The student teams will be evaluated on their perceived ability to execute the idea and turn it into a viable, profitable business and/or venture with significant social value.
To help the undergraduate entrepreneurship students prepare for the competition, Nokia Bell Labs paired many of the student startup teams with a Nokia Bell Labs senior executive to serve as a mentor to the team.
Thierry E. Klein, President of Nokia Bell Labs Solutions Research, said: “As Nokia’s award-winning industrial research lab, Bell Labs is focused on solving problems to address human needs through the power of human intellect. By working with leading universities and academic institutions, we can accelerate innovation to transform the way we live. We are very proud to continue our support of the UPitchNJ competition, as one of the premier entrepreneurship competitions in New Jersey. We are excited to foster the next generation of technology and business innovators that will make a profound impact on society.”
“We are extremely grateful to Nokia Bell Labs for this extraordinary and innovative collaboration,” said Susan Scherreik, co-chair of UPitchNJ and founding director of the Center of Innovation and Entrepreneurship at Seton Hall University. “UPitchNJ showcases the best and brightest young entrepreneurs from all over the Garden State. Thanks to the coaching the teams are receiving from New Jersey’s top corporate research scientists at Nokia Bell Labs, our collegiate entrepreneurship students can take their startups to new heights.”
The joint effort between Nokia Bell Labs and the entrepreneurship programs at the state’s colleges and universities will benefit New Jersey in myriad ways. When companies in New Jersey seek to expand or move to the Garden State, a prime consideration is New Jersey’s highly educated workforce, especially employees who are innovative self-starters. With assistance from Nokia Bell Labs, these student entrepreneurs will be even better prepared for their careers, Scherreik noted.
Stephanie Landers, UPitchNJ co-chair and Entrepreneurial Program Manager at the Keller Center, Princeton University, added: “Princeton University is honored to be a founding member and supporter of UPitchNJ over the past nine years. I am always impressed by the breadth of innovative and impactful ideas being developed by our talented young entrepreneurs and I look forward to hearing from our student entrepreneurs at the big event. Sending all the teams my best wishes.”
The competition aims to highlight the ingenuity and creativity of today’s college entrepreneurs, who are increasingly launching businesses from their dorm rooms. As entrepreneurship educators in New Jersey, we want to provide our entrepreneurial students with a networking forum with other students, mentors and potential investors.
We believe this competition will help brand New Jersey – home to Nokia Bell Labs and Thomas Edison – as the innovative state that it is, plus encourage young entrepreneurs to develop their businesses here, leading to economic growth and job creation.
PRIZES
Student teams will compete for the following prizes:
1st Place: $2,000
2nd Place: $1,500
3rd Place: $1,000
Best Early-Stage Startup: $1,500
Audience Choice Award: $500.
FOR MORE INFO:
Press Contact: Susan Scherreik, co-chair, UPitchNJ, and director, Center of Innovation and Entrepreneurship, Seton Hall University, at Susan.Scherreik-Hynes@shu.edu.
(On social media: #UPitchNJ)