Florida entrepreneurs and innovators can now add a new incentive to developing that truly great idea—a $50,000 incentive—thanks to the Cade Museum Foundation.
Now in its third year, the 2012 Cade Museum Prize, funded through a grant from the Gainesville Community Foundation, provides seed capital for a product or service that has a practical application.
According to a press release, the Foundation is looking for ideas in the early stages that are truly innovative, and ideas from multi-disciplinary teams (or companies) formed to advance the idea. Entries will be judged on innovation, breadth of impact and breakthrough potential.
Last year, the prize was awarded to Florida Sustainables (out of almost 100 entries) for inventing a plastic capable of biodegrading in five to 10 years (compared to 1,000 years for other plastics).
Other finalists included Sol-Gel Solutions, the maker of an advanced air filtration system; Optima Neuroscience, which produces a brain monitor and software that simplifies diagnosis; and Xobotix, which designed a passive dynamic exoskeleton enabling the severely handicapped to walk.
The purpose of Gainesville’s Cade Museum for Creativity and Invention is to inspire creative thinking, future inventors and early entrepreneurs. It is named for Dr. James Robert Cade, the physician, musician, researcher and inventor best known for leading the University of Florida team that created Gatorade.
The first phase of the Cade Museum project will include the construction of a 21,000-square-foot building with core exhibits on the neuroscience of creativity, the Gatorade story and a space for creativity programs, lectures and other activities.
In addition to the $50,000 first prize, second, third and fourth place finalists each receive $5,000.
The Cade Museum Prize is open to all Florida residents or Florida-based companies, and at least one team member must be a full-time Florida resident or the company headquarters must be in Florida. The deadline to submit an entry is January 13, 2012. The first-round of 16 finalists will be named in March and the Final Four competitors in April. The winner will be announced on May 11, 2012.
Apply at https://secure.blueoctane.net/forms/AREDIU9DYKLN.