Joint program with UCF gives university teams the opportunity to pitch business ideas and receive up to $50,000 at annual entrepreneurial competition
ORLANDO – Sponsored by OUC—The Reliable One and the University of Central Florida, MegaWatt Ventures 2019 is giving university students from across the United States the chance to take their environmentally clean technology innovations to the next level and win $50,000.
The highly regarded cleantech business competition is accepting applications through 5 p.m. (EST), May 15, 2019. To apply and for more information on the competition and eligibility rules, visit www.megawattventures.com.
Participants will have access to an array of educational programs and resources—venture capitalists, industry executives and seasoned entrepreneurs—to help evolve their ideas into high-growth businesses. Eight finalists will be invited to pitch their business models to a panel of judges in Orlando on July 18, 2019. The first-place team will take home a grand prize of $50,000.
“This ‘Shark Tank’ style competition provides a platform for young entrepreneurs to take center stage,” said Mary Nash, OUC Manager of Talent Acquisition. “It’s also a chance for university students to launch companies that will have a real impact on pressing global environmental and sustainability issues.”
Now in its fourth year, MegaWatt Ventures is a program of the UCF Venture Accelerator.
“We are excited to work in partnership with OUC to continue to build this flagship program supporting cleantech entrepreneurs” stated Thomas O’Neal, Associate Vice President of UCF Office of Innovation and Entrepreneurship. “MegaWatt Ventures is an important contributor to the growing recognition of Orlando as a global clean energy innovation hub.”
OUC, which is always looking to the future and exploring renewable technologies, believes this next generation of engineers, environmentalists and entrepreneurs has a lot to offer in terms of their innovative concepts.
“We encourage students to share their clean energy solutions,” said Ken Zambito, OUC Vice President of Transmission. “We believe there’s no better time than now to change the world with inventive technologies."
About the Orlando Utilities Commission (OUC—The Reliable One)
Established in 1923 by a special act of the Florida Legislature, OUC—The Reliable One is the second largest municipal utility in Florida and 14th largest municipal in the country. OUC provides electric, water, chilled water and/or lighting services to 400,000 customer accounts in Orlando, St. Cloud and parts of unincorporated Orange and Osceola counties.
About the University of Central Florida
Founded in 1963 with a commitment to expanding opportunity and demanding excellence, the University of Central Florida develops the talent needed to advance the prosperity and welfare of our society. Known as America’s Partnership University™, UCF promotes the technology-led economic development for the Orlando community by aiding in the transfer of technology and business skills between the university and industry teams. Since 1999, the Office of Innovation and Entrepreneurship has been helping university researchers, community innovators, and early-stage companies develop into financially stable, high-impact enterprises by providing resources and services that facilitate smarter, faster growth. For more information, visit ucf.edu.