The I3 Idea Challenge, an eight-month endeavour to help students learn to think like an entrepreneur, was officially launched on campus this week with the appearance of innovator information booths. The I3 Idea Challenge, consists of three phases and simulates real life business startups, including competition for ideas and money and the formation of key strategic partnerships. The first phase helps students generate and screen ideas under the mentorship of U of S faculty and local business leaders. In phase two, students create executive summaries of their business concepts for submission to a judging panel.

The top 25 teams will be invited to participate in the phase three semi-finals and submit full business plans. Ten teams will advance to the finals, scheduled for May 2009, where they will present their ideas live for a chance at first prize.

“The idea challenge is more than just a competition,” says Sanj Singh, director of the W. Brett Wilson Centre for Entrepreneurial Excellence. “The challenge encourages innovative thinking to learn the discipline of entrepreneurship. That’s why the prize money is geared toward professional development and education, not necessarily starting a business. If a student starts a business, great, but we hope they discover they are not quite ready yet and more education is needed.”

Undergraduate, graduate, PhD students and post doctoral fellows from any discipline can participate in the competition. Student volunteers, called Innovators, are on-hand at the innovator information booths on campus to help interested students learn more about the competition and provide event passes that will allow students to attend further W. Brett Wilson Centre events. Booths, up until the end of today, are in eight locations across campus: Arts Building Tunnel; Aboriginal Students Centre; Engineering Building student lounge; Agriculture Building main floor; Biology Building main floor; Physical Activity Complex buffeteria; Health Sciences Building library; and the Commerce Building second floor foyer.

Located in the heart of Saskatoon, the University of Saskatchewan is one of the leading medical-doctoral universities in Canada. With 58 degrees, diplomas and certificates in over 100 areas of study, the University is uniquely positioned in the areas of human, animal and plant studies. World-class research facilities, renowned faculty and award winning students make the U of S a leader in post-secondary education.

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For more information, visit www.innovate.usask.ca or contact:

Melissa Strom, Associate
W. Brett Wilson Centre for Entrepreneurial Excellence
University of Saskatchewan
Telephone: (306) 966-4855
Email: melissa.strom@usask.ca