Waterville, ME 8/29/2024 – The second annual Back of the Napkin Challenge, an innovative competition designed to inspire creativity and entrepreneurial thinking amongst regional college students, will take place on October 17 from 6:00-8:00 PM at Greene Block + Studios in downtown Waterville. Participation in the competition will include students from Colby College, Kennebec Valley Community College, and Thomas College.

The Back of the Napkin Challenge invites participants to distill their startup ideas into a simple design, accompanied by a 60-second video pitch. Whether it’s a novel product, an innovative service, or a creative solution to a pressing problem, this competition provides a unique platform for students to bring their concepts to life. Participants can submit their ideas across various categories, including Consumer Goods & Services, Business Goods & Services, Trades & Technology Operations, Social Innovation, and Health, Clean Technologies, & Life Sciences.

"The Back of the Napkin Challenge is more than a competition—it's a celebration of ideation and innovation. It's also a unique chance to learn from a world-renowned leader in innovation strategy," said Colby College’s Director of the Halloran Lab for Entrepreneurship Jeremy Barron. "This challenge inspires students to unleash their creativity, break free from conventional thinking, hone their public speaking skills, and embrace the endless possibilities of an entrepreneurial mindset."

Ten finalists will be selected to present their ventures live at Greene Block + Studios. Finalists must attend the final pitch live to be eligible to participate. To be eligible, finalists must attend the event in person, where they will have the chance to pitch their ideas to a distinguished panel of judges. Among them will be ex-Amazon VP of Digital Media and author of Working Backwards Bill Carr. Carr will not only serve as a judge but also share valuable insights on innovation, drawing from his experiences at Amazon. 

Kim Kennedy, a business administration instructor at Kennebec Valley Community College, emphasized the importance of such initiatives for nurturing future entrepreneurs. “Competitions like the Back of the Napkin Challenge are critical in helping students and community members realize their potential as innovators; it’s an opportunity for participants to harness their creativity, take bold risks, and turn their spontaneous ideas into viable business concepts.”

Dirigo Labs Assistant Director of Innovation Programming & Partnerships Emalee Hall added, “This event offers an accessible way for everyone to participate in the innovation process. It’s an excellent opportunity for students and aspiring entrepreneurs to take the first step towards making their ideas a reality.”

The event promosies a vibrant and engaging atmosphere where creativity takes center stage. Finalists will compete for their share of $1,750 in prizes. Each category winner will be awarded $250, and an overall winner will receive $500. All finalists will also receive yearlong membership to Bricks Coworking & Innovation Space and a copy of Bill Carr’s book Working Backwards. 

For more information or to register for the event, please visit https://tinyurl.com/dj8tzxbu.

About The Halloran Lab for Entrepreneurship at Colby College: 

The Halloran Lab for Entrepreneurship at Colby College offers entrepreneurship training and practical opportunities aimed at preparing Colby students to be effective innovators and entrepreneurs—whether they are creating dynamic new business ventures or improving existing organizations or programs. The lab provides funding for students to start commercial and social enterprises, mentorship, as well as innovation and maker spaces on campus and in downtown Waterville. The lab heads the development of an entrepreneurship ecosystem involving alumni, faculty, staff, and Colby community members as well as companies, organizations, and institutions. For more information, visit https://www.colby.edu/halloran-lab-for-entrepreneurship/. 

About Kennebec Valley Community College:

Kennebec Valley Community College (KVCC) is a 2-year comprehensive community college in mid-Maine serving students from Somerset, Kennebec, and Knox counties and well beyond. KVCC has two campuses in the heart of Central Maine - our 70-acre Fairfield Campus which is readily accessible by I-95 and our 600-acre Harold Alfond Campus just seven miles north. KVCC’s Workforce Training and Professional Development office provides a wealth of short-term training that are targeted toward business and industry and professional development. KVCC is a collegial environment emphasizing student success and respect for a diverse population of employees, students, and community members. For more information, visit https://www.kvcc.me.edu. 

About Harold Alfond Institute for Business Innovation at Thomas College: 

Named for Maine’s premiere entrepreneur and innovator, the Harold Alfond® Institute for Business Innovation has been established to spur economic vitality in Central Maine by nurturing the very talent that will assist in the creation of both jobs and wealth for the area. For more information, visit https://www.thomas.edu/career-services/institute-for-business-innovation/. 

About Dirigo Labs: 

Dirigo Labs is a regional startup accelerator based in Waterville, Maine. With a mission to grow mid-Maine’s digital economy by supporting entrepreneurs who are building innovation-based companies, the Dirigo Labs ecosystem brings together people, resources, and organizations to ensure the successful launch of new startups. Dirigo Labs operates under Central Maine Growth Council and is supported by several organizations, academic institutions, and investment firms. For more information, please visit www.dirigolabs.org.