Innovation Hangar 2024 is an opportunity for bright minds to think up new and innovative solutions that can make the aviation and aerospace industry better. If you have a brilliant idea that will revolutionize the industry or change the way we think about travel, then we want to hear about it. You can develop a business idea, a tech product, a mobile app, or a service platform. The sky is the limit and you are only limited by your own imagination!
Anyone who is between the ages of 15-21 years old (as of 31 December 2023), and is currently studying at the time of registration. You need to form a group of 3 to 5 members. This challenge is meant for students who are keen on learning and experimenting in the areas of Aviation, Aerospace, UAVs, Space Sciences or Business and are Passionate about a career in the aviation industry.
Now more than ever, there is a need for innovation within aviation to ensure sustainable and seamless travel for the future. We welcome applications from students from around the world to help bring new ideas to the following areas:
- Space Tourism
- Space Debris
- Sustainable Aviation Fuel (SAF)
- Addressing Carbon Emissions in Aviation and Aerospace Industry
- UAM Transportation Policy
- UAM Business Proposal
We want you to transform the way people travel over the next twenty years. If you’re working on an idea/technology that has the potential to reshape travel and aviation, we’d love to hear from you.
Participation is free of charge. You do NOT need to pay for participating in this competition.
No! You can choose to create a team with students from different age groups and across different grades, as long as all members of the team are within the age range of 15 to 21 years and are enrolled in a school at time of registration. It might be a great idea to choose to work with members who will display different levels of emotional maturity.
No, team members can be from different schools. However, if all of you are from the same school, it might make it easier for you to receive guidance and mentorship from your school teachers.
No, the competition is only open to groups of 3 to 5 members. We encourage you to find other like-minded aviation enthusiasts and form a team.
Whether you are studying Sciences, Business, Humanities or Arts subjects in your school, you are still eligible to participate in the competition. All you need is a passion for aviation and aerospace! In fact, it might be a good idea to have team members with interests in different subject areas and varied knowledge and skill sets.
We ask you for information about you, your team and your business idea or solution. Don’t hold back, let us know how great you are! Check out the submission requirements!
No, participation in the competition does not earn you any academic credit exemptions. However, it will be a great experience for you to showcase in your applicant profile during your college application process. The competition will also give you substantial exposure to aviation business concepts through training and workshops with professors from the university.
You do not need to create the actual product, know coding or actually execute an application that works. However, we do expect a visual illustration of your product so that we can understand it better, particularly the features and benefits offered by your product. Also, how implementable your product ultimately is, in the real world, will be factored into the scoring by the judges.
No, you do not need to travel to Singapore. All rounds of the competition will allow you to submit your presentations online and the finals will be conducted online in front of a LIVE audience and a panel of judges.
Innovation Hangar 2024 offers school students an amazing opportunity because of the following reasons:
- Get the opportunity to attend a FREE Entrepreneurship Lecture Series, developed by Embry-Riddle's faculty
- Gain exposure and insights into exciting aviation business concepts through workshops and training sessions
- Tap into Embry-Riddle Aeronautical University’s faculty knowledge and expertise to develop your business ideas
- Opportunity to network with professors and professionals from the aviation and aerospace industry
- Collaborate with Embry-Riddle Aeronautical University and our faculty mentors to develop your ideas
- Share your outstanding ideas with the panel of judges, made up of faculty members/industry experts, and stand to win attractive prizes
Embry-Riddle Aeronautical University’s faculty will conduct several lectures leading up to the final event in 2024, covering topics related to entrepreneurship like preparing a business case and delivering a pitch. You will receive guidance and advice from the professors who will act as your mentors as you proceed through the rounds in the competition.
Your parents and teachers can guide and advise you throughout the competition, but the ideas, presentations, essays must be done by your own team. Your team will have to do a pitch in front of an audience and a panel of judges. Your classmates can be a part of your team since you are allowed to have a total of 5 team members including you.
You will be judged on the following criteria:
- Effectiveness of your product/company/business name and the level of knowledge and skills of your whole team
- Creativity and innovation of your business idea, including the product/ service
- Features and benefits of your business idea or solution, including the product/ service
- Effectiveness of your market strategy and business plan
You must ensure that your submissions address the following questions:
- Who is your customer and what problem are you solving for them?
- What is your team’s value proposition?
- What is each team member’s role in the company and what are their backgrounds or experience in the area?
- What is your business idea or solution?
- Who are your competitors and/or substitutes? What competitive advantage do you have over those competitors/substitutes?
- What is/will be your revenue model? How do you make money?
- What is/will be your cost structure? How do you spend your money?
The competition will be conducted over 3 rounds.
- First Round: Registration: Up to 5-minutes video (BE CREATIVE!)
- Second Round: Semi Finals: 10-slide PDF presentation and 500-word executive summary in PDF
- Third Round: Finals: 10 minutes business pitch + 10 minutes Q&A with Judges (LIVE on Zoom)
The competition will be judged by a panel of judges that will include faculty, experts and professionals with years of experience in the aviation and aerospace industry.
In addition to the all the knowledge, expertise and skill sets that students will have an opportunity to develop in this competition, the winners will also be awarded attractive cash prizes! There will be prizes awarded to the top 3 teams. Winners may also stand to receive attractive scholarships if they choose to apply to for an Embry-Riddle Aeronautical University – Asia degree program.
- 1st Prize: Each member gets SGD 10,000 scholarship to ERAU, a team Trophy, individual Certificates and an all-expenses paid trip to attend the 2024 Singapore Airshow
- 2nd Prize: Each member gets SGD 2,500 scholarship to ERAU, a team Trophy, individual Certificates, and a set of 3D Virtual Reality Goggles for each member
- 3rd Prize: Each member gets SGD 1,000 scholarship to ERAU, a team Trophy, individual Certificates, and a Foldable RC Quadcopter for each member
Prizes are subject to change based on the location of the winning teams. If the prizes listed above are unavailable, comparable prizes will be awarded.