Best Buy, the electronics superstore best known for their monolith-sized televisions and endless sea of gadgets recently announced their College Innovator Fund, “ a national search to find, mentor and advance the next big ideas in the areas of technology, sustainability, education or a related field.”
Just because this is a definite surprise coming from Best Buy (big-box stores are not usually on the forefront of innovation and mentoring), doesn’t mean it isn’t an awesome opportunity and one fully worthy taking advantage of. In order to apply, Best Buy is asking college students to visit their company Facebook page and record a two-minute video explaining their product or service. They will be accepting submissions up until August 14th, which gives applicants two more weeks to put together their elevator pitch.
There is some serious money up for grabs, with the grand prize winner taking home $50,000, two runners-up landing $20,000 rewards and a fan-selected favorite which stands to win $10,000.
Best Buy’s president Stephen Gillett explained the purpose of the fund:
“At Best Buy we understand the impact that technology and entrepreneurialism can have on our society. Students are often at the helm of this forward thinking so what better time to provide a national platform to help them introduce and support these ideas than during the back to campus season.”
If this sounds too good to be true, that’s because it is. All four prize offerings are more than enough money to get even the most ambitious of projects off the ground, so if you’ve got an idea, product or service that you think could change the world, you owe it to yourself and others to submit a video. The submission can be in any stage, from inception to full realization. Remember, there’s still more than two weeks until applications are due – ample time to flesh out even the most half-baked idea.
You can read the full press-release here.