Loudoun-EDA

Economic Development Authority

2023 Innovation Challenge

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The application period for the 2023 Loudoun Innovation Challenge has closed. Finalists will be announced October 30. See the full timeline here.

Click Here To Sign Up for Innovation Challenge Updates

Loudoun County is a unique place that has grown from a variety of diverse entrepreneurial achievements. In the eastern part of the county, an entire industry was born from internet entrepreneurs that spawned the highest concentration of data centers in the world. This infrastructure is the foundation for Loudoun County’s primary focus on technology and the basis for efforts to grow high tech entrepreneurship in the county.

The goal of the Loudoun Innovation Challenge is to promote entrepreneurship and business growth by identifying and supporting companies that are developing truly innovative products and services in Loudoun County.

The Loudoun County Economic Development Authority (EDA), in partnership with Loudoun Economic Development, has announced the dates for the 2023 Loudoun Innovation Challenge, the fourth-annual competition for entrepreneurs seeking to take their business to the next level.

What does a winning submission video look like?

 

Scroll down or click one of the sections below to learn more about this year’s competition:

Awards

Loudoun EDA has dedicated $150,000 in funding this year, dividing it among six total grants:

Overall Innovation Challenge Winner

$40,000

Any Category

Agri-Tech Innovation

$25,000

Agri-Tech – the use of technology in or for agriculture, horticulture, and aquaculture with the aim of improving yield, efficiency and profitability for farm managers and growers.

Information & Communications Technology (ICT) Innovation

$25,000

Information & Communication Technology – All technologies, whether process, product or service-based, that allow people and organizations to interact in the digital world or to improve someone’s quality of life. ICT can include, but is not limited to, business in the areas of health and wellness, cybersecurity, aerospace and defense, unmanned systems, logistics, transportation, cloud computing, quantum computing, machine learning, gaming, artificial intelligence, computer networks, among others.

Clean Energy Innovation

$25,000

Clean Energy – Any process, product, or service that reduces negative environmental impacts through significant energy efficiency improvements, the sustainable use of resources, or environmental protection activities. Clean energy includes, but is not limited to, businesses in the areas of recycling, renewable energy, transportation, infrastructure, automotive, unmanned systems, engineering, construction, energy capture and storage etc.

Highly Specialized Manufacturing Innovation

$25,000

Highly Specialized Manufacturing – The use of techniques and processes designed to improve methods for manufacturing existing products, and the production of new products enabled by advanced technologies. Highly Specialized manufacturing includes technologies and innovations to increase productivity in areas such as quality control, shop floor or inventory management, enable next-generation products, and create or support training for new, high-quality, and higher-paying jobs whether through the manufacturing of equipment or software. Highly Specialized Manufacturing can include, but is not limited to, businesses in the areas of unmanned systems, health and wellness, aviation, defense, quantum computing, transportation, logistics, consumer products, automotive, robotics etc.

People’s Choice Award

$10,000

Winner selected from the 12 finalists. Anyone can vote, even people who cannot attend the competition in person. (This is when having friends on social media can pay off. Start promoting day one, and you could win the People’s Choice Award.)

Criteria

An applicant must demonstrate:

  • Problem – What is the problem your product or service is seeking to solve?
  • Solution – What is your solution to this problem and why do you believe it will be successful?
  • Team – What qualities of your team give you a competitive edge?
  • Innovation – Expand upon why you feel your solution and/or plan is innovative and worthy of this challenge.
  • Plan – What is your financial and strategic plan to achieve your goals? This includes a high level budget and how you will leverage program resources.

Eligibility

  • No purchase is necessary to enter or win.
  • Applicant must have a physical location in Loudoun County and/or demonstrate a commitment to establish future physical office location in Loudoun County within six months of accepting an Innovation Challenge award.
  • Each Applicant must have at least one Principal who is a legal resident of the United States and at least 18 years old at the time of entry. Businesses owned, controlled or represented by members of the EDA or by employees or officers of Loudoun County are not eligible for entry.
  • All businesses entered into The Challenge must be for-profit. Non-profit businesses are not eligible.
  • Applicants must agree to be available for an in person pitch. Applicants shall authorize the EDA to utilize service marks in marketing efforts and shall participate in interviews with media at the local, state and national levels at the conclusion of the program.
  • A business is not eligible if it has more than 100 employees (employees including partners, owners, and W2 employees).
  • A business is not eligible if it has more than $8M in revenue in your most recently completed fiscal year and/or currently.
  • Applicants cannot be winners from previous years of the Loudoun Innovation Challenge.
  • Applicants can only enter one category per project.

 

 

Application Scoring

Question 1: Problem – What is the problem your product or service is seeking to solve?

Suggested content you provide

  • Describe the problem, quantify its significance with metrics, and explain why now is the right time to solve it.
  • Explain why existing solutions are inadequate.
  • Show how you know this is a significant problem using evidence-based validation (e.g., interviews with users, case studies, literature).

 

 Judges score each statement on a 0-6 scale

  • The applicant identified a critical, real problem, and used evidence and sound analysis to explain why now is the right time to address the problem.

Question 2: Solution – What is your solution to this problem and why do you believe it will be successful?  

Suggested content you provide

  • Describe your innovation and how it is better than existing products or emerging solutions.
  • Describe your innovation’s unique value proposition and how it will lead to a sustainable business with paying customers within 1-3 years.
  • Define the proof-of-concept you will produce, the timeline.

 

 Judges score each statement on a 0-6 scale

  • The applicant is pursuing an innovative and compelling solution that has led or will lead to a sustainable business with paying customers within 1 to 3 years.

Question 3: Team – What qualities of your team give you a competitive edge?

Suggested content you provide

  • Introduce your team, explain how it came together, and highlight the knowledge and skills that make it uniquely capable of achieving success.
  • Highlight your team’s experience in trying new things, solving difficult problems, and overcoming barriers to bring ideas to reality.
  • Describe what drives your team to realize this solution and why you will continue when facing difficulties.
  • Describe your efforts to advance your solution concept and key milestones achieved.
  • If you are a sole proprietor please share your competitive qualities/skills. You may also highlight any independent contractors or other resources you use regularly in your business operations.

 

 Judges score each statement on a 0-6 scale

  • The applicant shows that this team has the knowledge, experience, entrepreneurial qualities—such as adaptability, creativity, decisiveness, and resourcefulness — and determination to transform their proposed solution into a viable business or grow to new levels..

Question 4: Innovation – Why do you feel your solution and/or plan is innovative and worthy of this challenge?

Suggested content you provide

  • Explain why winning the Loudoun Innovation Challenge Contest will substantively change the likely outcome for the proposed solution.
  • In detail, explain why this innovation is worthy of this challenge.

 

 Judges score each statement on a 0-6 scale

  • The applicant demonstrates innovative concepts worthy of this challenge.

Question 5:  Plan – What are your top 3 goals for the next 1-3 years and what is your financial and strategic plan to achieve your goals? Please include a high-level budget and how you plan to leverage program resources.

Suggested content you provide

  • Describe where you stand in your solution’s development cycle and define your goals.
  • Describe your team’s readiness to meet your goals and if additional talent and resources are needed.
  • Provide a high-level budget and plan to meet your goals. Explain how you will leverage the Loudoun Innovation Challenge winnings.
 Judges score each statement on a 0-6 scale

  • The stated goals are realistic and meeting them will demonstrate critical progress towards developing, testing, validating, or growing the functionality and market demand of this innovation.

**Video Pitch: Showcase your idea in 2 minutes**You will be required to submit a 2-minute video pitch to continue the application review process for your business. Your application will not be considered complete without the video pitch.

Be creative and produce a video that conveys the required information in exciting and interesting ways but do not focus on time consuming activities that only improve production values (i.e. technical elements such as décor, lighting, and cinematic techniques). Assistance from others with experience in this area may be helpful.

Suggested content you provide

  • The real-world problem you are solving.
  • Your solution and why it’s transformational.
  • Who you are and why you have a competitive edge.
  • How/if the innovation will create new jobs and/or will result in an increase in Total SF of leased new office space in Loudoun County.
  • How you will use the award funds.

 

 Judges score each statement on a 0-6 scale

  • The video explains a compelling real-world problem.
  • The video describes a unique innovation that is implementable within the next five years.
  • The video shows a knowledgeable and skillful team.
  • This innovation, team, and plan should be strongly considered for a Loudoun Innovation Challenge Prize.

For the live pitch event.

Suggested content you provide

  • The real-world problem you are solving.
  • Your solution and why it’s transformational.
  • Who you are and why you have a competitive edge.
  • The innovation will create new jobs and/or will result in an increase in Total SF of leased new office space in Loudoun County.
  • How you will use the award funds.

 

 Judges score each statement on a 0-6 scale

  • The pitch explains a compelling real-world problem.
  • The pitch describes a unique innovation that is implementable within the next five years.
  • If this team won, would these funds move the needle for this applicant?
  • Does this project benefit Loudoun County?

Meet Last Year’s Finalists

Get to know the winners of the inaugural Loudoun Innovation Challenge.

2022 Finalists

Practice Your Pitch at 1 Million Cups

Register to practice your live pitch or presentation.

Apply to Present

Looking to Relocate?

Loudoun’s vibrant mix of co-working spaces, incubators and creator spaces provides the right location and tools to grow.

Find Office space

 

Timeline

August 7 at 12 p.m. (noon): Applications open for the Innovation Challenge.

September 18 at 12 p.m. (noon): Application deadline for the Innovation Challenge.

October 30: The top 12 finalists are announced through a press release and finalists notified.​

November 2: Loudoun Chamber will host an event for the top 12 finalists.

November 22: Presentations will be due prior to the pitch event.

November 29:  Live in-person pitch event from 7:30 a.m.- 5 p.m. Awards will be announced.​

November 30: Press release announcing the winners.​

Week of December 1:  Begin award and payment process.

 

Jill Badger smiling wearing purple dress

Contact Us

We look forward to working with you and building towards a bright, #LoudounPossible future.

Jill Badger

Business Development Officer – Small Business
Email

 

Terms and Conditions

All applicants must agree to the statements below and all requirements as published or provided by the Innovation Challenge, Loudoun County, and the Loudoun County Economic Development Authority

  • All materials submitted to The Innovation Challenge will be treated as public records and subject to the Freedom of Information Act (FOIA) rules and regulations. If you have questions or concerns about this requirement, please contact the Department of Economic Development at 1-800-LOUDOUN before submitting your application.
  • An application for The Innovation Challenge constitutes an unconditional agreement to and acceptance of the Terms and Conditions. The Applicant is responsible for ensuring his or her familiarity with the Terms and Conditions.
  • By submitting an application, the Applicant certifies that it is not under any agreement or restriction that prohibits or restricts its ability to disclose or submit the materials included in the application or otherwise to apply for The Innovation Challenge.
  • Applicant grants Loudoun County and the Loudoun County Economic Development Authority permission to display, publish, distribute, use, modify, print and reprint any images, marks or video content in any manner related to the Innovation Challenge or the work of Loudoun County and the Loudoun County Economic Development Authority including without limitation, publications, advertisements, brochures, web site, videos, digital media, or other electronic displays and transmissions. Applicant further waives any right to inspect or approve the use of the image prior to its use. Applicant forever releases and holds Loudoun County and the Loudoun County Economic Development Authority harmless from any and all liability arising out of the use of the images in any manner or media whatsoever, and waives any and all claims and causes of action relating to use of the images, including without limitation, claims for invasion of privacy rights or publicity.
  • To the fullest extent permitted by law, by submitting an application for the Innovation Challenge, the Applicant voluntarily releases the EDA and Loudoun County from any and all claims, actions, damages, costs or liabilities of any kind relating to or arising from or in connection with the Innovation Challenge, including but not limited to the awarding, advertising, receipt, and/or use or misuse of award funds or participation in any activities related to the Innovation Challenge.