Now in its third year the University of Pennsylvania’s AppItUp Challenge will be holding its final competition on November 17th in the Quorum at the University City Science Center. Over 230 app ideas were submitted from across 10 schools on the UPenn campus.
Submissions are in the process of being narrowed down by a panel of VC judges. Ten will be chosen to be presented at the fall finals where five app developers will bid for the app they would like to develop. Entrepreneurs including Wharton MBA students will pitch themselves to be possible CEOS of the start-ups. Companies will be formed while the app prototypes are being developed.
In addition, companies can be formed through university programs such as the Penn UPstart program (open to faculty members) and UPAdvisors (open to students). Contestants can also choose to assign the app rights over to the university. Funding can be achieved through pitching the app prototype to the AppitUp Investor and Capital Provider partners.
To participate in the Challenge, a current Penn email account was required and an application to be submitted online. Submissions are then rated by the Investor and Capital Provider partners (Idea reviewers) and Development partners to arrive at the 10 finalists.