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Cade Museum offering $50K prize for innovation to Florida entrepreneur

Cade Museum Board Member Randy Scott is going to be in Miami on Wednesday, Nov. 13, at 5 p.m. at the University of Miami Life Science and Technology Park. He will be presenting a short workshop regarding tips and information for a successful application for the $50,000 Cade Museum Prize for Innovation.

 Each year the Cade Museum (named for the inventor of Gatorade) awards $50,000 to a Florida-based inventor or entrepreneur based on a new innovation with high potential impact. You can learn more about the Prize at the website. It is awarded based on three criteria:

 1.  What is the degree of innovation?  Is this invention a Big Leap or a Small Tweak?

2.  What is the likelihood of near-term success?  Will this invention be in the market tomorrow or ten years from now?

3.  What is the potential impact?   How will the world change if use of the invention becomes widespread?

 In its first four years finalists have come from all over the state and winners have come from Tampa, Orlando and Gainesville (but not Miami - yet). This is a way for very early stage companies, or inventors hoping to form a company, to gain some important seed capital.

The contest will open for submissions on Dec. 1.