American University of Sharjah announces NVC semifinalists

Some of the world’s most ground-breaking innovations will be unveiled in Sharjah soon, with the 16 semifinalists in the New Venture Challenge (NVC) announced today by American University of Sharjah (AUS). The New Venture Challenge is an opportunity for teams of entrepreneurial  graduates students (or recent graduate students) from universities around the world to submit a science-oriented innovation, entering the running to share in over US$200,000 worth of prizes, and the opportunity to pitch their idea to angel investors and venture capitalists.

Since opening the application process in September, the NVC has received more than 100 applications, with 16 semifinalist teams selected by a panel of high-profile judges. The semifinalists represent some of the world’s leading universities, including Peking University, Northwestern and Carnegie Mellon. Teams making it to the finals have submitted innovations with the potential to have a transformative impact on fields such as medical technology, materials science and marine robotics, to name just a few.

The semifinalists are invited to take part in an intensive, three-day competition event at American University of Sharjah to be held February 3–5, 2019, where they will hone their innovation under the guidance of mentors from AUS’ world-class faculty. Prize money includes a US$50,000 grand prize and a second prize of US$25,000. With the opportunity to network with some of the Middle East’s most experienced and successful start-up investors over the course of the competition, the semifinalists also have the chance to take their idea to a global marketplace.

Dr. Andrew Klein, Co-Chair of the NVC, says:

“We were overwhelmed by the quality of applications received. The 16 final teams chosen have innovations of the highest caliber, with excellent prospects of commercial success, given the right advice and investment. We are excited about welcoming teams from all around the world to Sharjah in February, and witnessing innovation and entrepreneurship at work here on the AUS campus.”

It is fitting that the inaugural NVC is being hosted by AUS, as the university steps up its efforts to become a center for research and innovation, announcing its ambition earlier this year to become the region’s leading research institution in five years. The NVC demonstrates how academic research and breakthroughs can be translated into commercial opportunity and success. Under the theme of big, brave and bold innovation, the NVC embraces Sharjah’s and the UAE’s spirit of innovation, and will help to build the country’s growing international reputation for STEM-based entrepreneurship.

The details of the 16 final teams and their innovation are as follows:

The NVC is sponsored by local and international companies and organizations which include Sharjah Chamber of Commerce and Industry; Khatib & Alami; Sharjah National Oil Company; Sharjah Research, Technology and Innovation Park; Houston Technology Center–International; Houston Technology Center–Russia; Electric Way; Kanaan Advocates & Legal Advisors; and AUS itself.