The 2018 HackMines Newmont Innovation Challenge will take place Feb. 3, with student teams collaborating to solve problems centered around two themes: finding mineral deposits that have thus far eluded mankind and the role of digital transformation in unlocking value for a sustainable future.
During the daylong event, teams will hear from mining experts about the relevant challenge areas before getting time to ideate an innovative solution and create simple prototypes. Teams will also receive training on how to build a short presentation before pitching their idea to a panel of judges.
Prizes will be awarded based on the team pitches. Up to seven teams will receive $1,000 in funding to continue work on their ideas into spring semester. In a change for this year's competition, all participants, not just the finalists, will be eligible for additional funding from the $50,000 Newmont Innovation Fund.
The finalists from the Feb. 3 competition will face off again at the end of the spring semester, when a panel of judges will evaluate their proposed solutions based on overall desirability, product validation, market validation and financial viability. The first-place team will receive up to $10,000 in additional prizes.
New this year are four pre-competition workshops designed to help students develop the skills and knowledge they'll need to be successful not only in the competition but also in other ventures they may pursue.
The Jan. 23 workshop focused on how to find successful ideas that can form the basis of one's venture while the Jan. 24 session looks at how to create, lead and manage conflict in a team.
On Jan. 30, students can learn about using and developing Lean Canvas business models, solving the right problem and determining unmet customer needs. The final workshop, on Jan. 31, will focus on finding the ideal mentor.
For more information about the Newmont Innovation Challenge, go to innovation.mines.edu/hackmines/.
Photos from last year's Newmont Innovation Challenge:
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