The Challenge: Concept Product & AI Applications
In 2020, the Covid-19 pandemic has dramatically upended our usual ways of work, conducting businesses, education, entertainment, and healthcare, etc. However, history has repeatedly shown that crises drive innovation. For example, we witnessed firsthand how Covid-19 has fast tracked wide-spread adoption of digital transformation that enables us to move things online.
There is no doubt that the post-pandemic world will be a very different place. We believe technology and innovation will continue to be the main driving force to propel us through speedy recovery.
Monte Jade Innovation Competition (MJIC), sponsored by Monte Jade Science and Technology Association Southeastern U.S. (Monte Jade SE), is an annual innovation competition that provides a forum for young students and professionals to foster their creativity, communication, and critical thinking skills, and to prepare them for future entrepreneurship.
The fourth annual MJIC Program (MJIC 2021) invite submissions of innovations for the following two categories: Concept Product and AI (Artificial Intelligence) Applications. Compete to win more than $10,000 in prizes!
* MJIC 2021 is supported by Monte Jade West Science & Tech Association (Silicon Valley) 美西玉山科技協會(大矽谷區)
Competition Categories
Concept Product: in this general category, we are seeking original, technologically inventive early-stage projects that solve a real-world problem. A product idea that has better features, performance, and quality than the existing products is also welcome. The potential topics are limitless. The final submission could be a new hardware, software, process, design, or methodology, with a full description of how it will address the problem at hand.
AI Applications: the advancement of artificial intelligence is rapidly transforming our lives, making the world smarter and increasing productivity, however, it also presents unprecedented challenges. In this year’s thematic category, we are looking for creative ideas and applications that leverage the emerging AI and machine learning technologies. Topics may include, but not limited to, computer visions, Internet of Things, medical devices, smart transportation, smart manufacturing, and smart agriculture, etc.
Based on the level of participation, if each category has three or less competing teams at the end of Round #2 and prior to Round #3, Monte Jade SE reserves the right to combine Concept Product and AI Application into a single competing category.
Eligibility
MJIC 2021 is open to college students and young professionals under age 35 in the US. Individual or team (up to three members) submissions are accepted.
Family members of the MJIC 2021 judge committee are not eligible to apply.
Rules
Each person or team may submit only one application per category.
Each team may consist of up to three members.
Submission cannot simply be a school project. Parts of the submission may be inspired by a previous academic work, but the creative and innovative aspects of the submission must be entirely new. Any previous academic work used in this submission must be identified in the submission.
Proposal submitted cannot have been previously published or publicly disclosed.
Software, hardware, and prototypes are accepted and encouraged to show creative, innovative, and inventive concepts.
Applicants found to have committed copyright, patent, or intellectual property infringement will be disqualified immediately with no exception. It is the responsibility of the applicant to perform the requisite literature and intellectual property reviews to ensure compliance with copyright, patent, and intellectual property laws. Applicants found to have infringed on the intellectual property rights of a third party will forfeit any prize or award received from the Monte Jade Innovation Competition.
Submission Requirements
Round #1: To be included in the Proposal
Value Proposition - Background information specifying the principal or ideation of the innovation.
State of Market – Summary of Current Solution.
Concept and Realization - A description of the idea and the proposed solution.
Claims – A brief discussion of how the proposed solution addresses the problem and how it may be implemented.
Once the proposal is accepted, the applicants will be notified to advance to Round #2. To help each team preparing for the Invention Submission, the MJIC committee may arrange a meet-up with a group of mentors. The participants are encouraged to seek support from the mentors, however, this is optional.
Round #2: to be included in the Invention Submission
A five-minute video presentation that outlines the proposed solution.
A summary document: up to five pages, double-spaced with descriptions, components, schematics, or figures with citations. A document template will be provided to the participants.
Optional: Prototype/demo/physical model/software solution is not required but can be included in the submission to enhance the proposed solution and to help explain how it works.
The MJIC judge committee, comprised of experts in industry and academics, will review the submitted materials and recommend a list of finalists for each category to proceed to Round #3.
Round #3: Finalist Presentation
The finalists are required to make a 20-minute presentation in front of the MJIC judge committee at the finalist presentation event. The finalists can choose to present either in person or online by notifying the MJIC judge committee of their preference, at the time when the presentation is scheduled.
The presentation cannot be simply a verbal version of the material submitted in Round #2. The presentation must further elaborate and explain the ideas and solutions, as well as the value and potential impact to the society, as outlined in the judging criteria.
Presenters are responsible for their own transportation and any associated travel cost, if presenting in-person.
Prizes
Concept Products
1st Place $3,000
2nd Place $2,000
3rd Place $1,000
AI X Robotics
1st Place $3,000
2nd Place $2,000
3rd Place $1,000
Winners will be offered the opportunities to receive mentorship, career consultation or other services as they become available, in addition to the cash prizes.
The first-prize winner will also have the option of filing a provisional patent application for the concept product without any cost. The provisional patent application will be filed by Wang Law Firm with the disclosure material provided by the winner, and the filing fee will be paid by Monte Jade SE. The provisional patent application is effective only for one year, allowing the winner time to seek additional support and funding if appropriate.
Judging Criteria
Creativity (50%) The idea will be evaluated on how creative and effective the idea addresses the specified topic or problem.
Feasibility (15%) How the innovation can be implemented with respect to ease of execution, deployment, financial cost, production, etc. Marketability (15%)
Factors such as economic impact, ease of development and scalability, speed to market, target market and market demand. Other (20%)
This criterion is used to capture the intangibles of the innovation that include, but not limited to, the following: presentation style/methods and effectiveness, inventor’s expertise and passion (how driven about the idea, how much study has been undertaken regarding the concept/project), how resourceful the inventor is in preparing prototypes or proof of concept, material impact to the society and environment, relevance to major problems the world faces, etc...
Legal Disclaimer
Monte Jade SE shall not be held responsible for keeping the ideas disclosed in the Monte Jade Innovation Competition confidential.
Applicants shall hold Monte Jade SE free from any damage and liability arising from any material disclosure by the applicants.