Gibraltar Ventures, a Prudential Company and TecBridge present the 2016 Innovation Challenge. Teams of our 14 member schools are encouraged to participate in this new category. What’s the difference between the Innovation Challenge and the Business Plan Competition…
Business Plan Competition – participants create their own business
Innovation Challenge – participants are given a challenge, and they create a solution-based business plan based on that information.
Challenge: Each day 10,000 Americans turn 65 and millions of them will seek to preserve their standard of living in retirement. The reality is that traditional sources of retirement savings will prove inadequate to satisfy this objective (see retirement income gap statistics below). Variety of reasons exists as to why most of the US population is unprepared. One is the fact that the boomer population lived the American Dream and made sure that they owned a large house, and put their kids through college and didn’t save any significant assets for retirement, aside from assets they accumulated throughout their life, such as their house, car and other possessions, mainly related to their day to day living.
Your challenge: Find an innovative solution for the retiree to live financially stable in their retirement years.
Teams must be registered in order to qualify for competition.