26 September 2010
26 September 2010
Forty individuals and teams have been selected for ideas and applications that address some of the world’s biggest issues in infrastructure, transportation and renewable energy.
Names of the 40 semi-finalists were announced by Owens Corning at China Composites Expo in Beijing and posted on the competition Web site. Winners will be announced in February 2011, at the trade show hosted by the American Composites Manufacturers Association (ACMA) in Ft. Lauderdale, Fla. USA.
“We are extremely pleased with the number and quality of the entries in our first global competition seeking new applications for composite materials,” said Ashish Diwanji, vice president of innovation for the Owens Corning Composite Solutions Business. “We received submissions from 30 countries around the world. They are thought-provoking and reflect a great deal of interest in using modern materials to address some of society’s pressing issues.”
The entry phase of the competition closed Aug. 15. Individuals and teams had been asked to submit applications and ideas in four categories – infrastructure durability, fuel efficiency, renewable energy and protection from harm. Entries were almost evenly divided between ideas and applications. Fiftytwo percent of the entries are ideas and 48 percent are applications with the potential to reach the market in 2012. The most popular issues addressed are infrastructure durability and fuel efficiency.
Launched in April, the competition is offering US$250,000 in awards – a $200,000 commercial development award for a composite application that can be introduced by the end of 2012, and a total of $50,000 for four composite ideas that effectively address marketplace needs, appear to be technically feasible and have a perceived market opportunity. One $20,000 award is for anyone and three $10,000 awards are reserved for students.
The semi-finalists are now invited to provide additional information for a second round of review at the end of November. Judges will be looking at the content of the idea, the potential market opportunity, the time needed to commercialize the application, the business case, technical feasibility and the contestant’s ability to commercialize the application or solution.
Finalists will be invited to present their ideas to a panel of judges who will base their decisions on the likelihood of scalability and long-term success.
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