Prizes

By default, prizes in each phase will be awarded to each team on a pro rata basis. Individuals will be responsible for financial implications of the prize, including tax liability and impact to financial aid.

Challenge Prizes by Phase

Prototype Phase

Based on the scores of a panel of independent judges, up to 15 teams will be awarded $300 each based on how they scored against the rubric. Prizes in this phase will be allocated to the team lead for further distribution to team members. Teams will be responsible for determining the method of prize allocation to individual members.

MVP Phase

Each team submitting an MVP by the specified deadline may be eligible to compete for a prize. Eligibility will depend on a technical review of the completed code and a live demonstration of the MVP functionality. Up to 10 eligible teams will be awarded $500 each based on how their MVP scores against the rubric.

As in the previous phase, prizes in this phase will be allocated to the team lead for further distribution to team members. Teams will be responsible for determining the method of prize allocation to individual members.

Pitch Contest

Based on the results of the MVP phase review, up to 10 teams will be selected to participate in the pitch contest. Each team will be provided the opportunity to pitch their MVPs to a panel of independent judges. Based on the judges’ scores, teams will be provided the following prizes:

First place: $5,500
Second place: $3,500
Third place: $2,500
Fourth and fifth place: $2,000 each team

Penn State’s Office of Physical Plant (OPP) is also providing prize money, up to $5,000 for the teams that develop MVPs addressing campus facility improvements, sustainability initiatives, and innovative solutions for maintaining and enhancing physical spaces. The focus is on projects that support OPP’s mission to promote operational efficiency, environmental responsibility, and the overall well-being of the university’s built environment.

First place: $3,500
Second place: $1,500

Prizes for this phase will be equally distributed to individual team members on each team.

Cocoziello Institute of Real Estate Innovation Prize

The Cocoziello Institute of Real Estate Innovation Prize of $5,000, is designed to challenge students to develop AI-driven solutions that address real estate and the built environment’s most pressing issues. The built environment refers to the human-made surroundings that shape how we live, work, and interact. This includes—but is not limited to—homes, commercial buildings, infrastructure, public spaces, and urban systems. Integrating AI into the built environment means applying intelligent technologies to improve how these spaces are:

Designed (e.g., personalized, inclusive, and efficient layouts)
Constructed (e.g., robotics, automation, and predictive modeling)
Managed (e.g., smart buildings, energy optimization, tenant experience)
Regulated (e.g., zoning, permitting, legal compliance)
Sustained (e.g., ESG-aligned development, climate resilience, energy efficiency)
Addressed (e.g., affordability, legal barriers, regulatory challenges)

These are just examples—students are encouraged to explore any real estate-related challenge where AI can drive meaningful change. In addition, students are encouraged to explore solutions that integrate multiple domains. This challenge emphasizes creating scalable, impactful technologies that push the boundaries and integrate multidisciplinary insights in real estate and the built environment.

First place: $3,500
Second place: $1,500

EVALUATION CRITERIA

How well has the team conducted research and validation to understand real-world needs in the built environment?

2 points — The team has not engaged with stakeholders or researched real-world challenges.
4 points — The team has conducted limited research with minimal stakeholder engagement.
6 points — The team has engaged with some stakeholders and gathered basic insights into needs and challenges.
8 points — The team has conducted meaningful research and stakeholder engagement, identifying key needs effectively.
10 points — The team has performed extensive research and stakeholder discovery, gaining deep insights that clearly inform the solution.

How well has the team defined a compelling and differentiated value proposition?

2 points — No clear differentiation or unique value is evident compared to existing solutions.
4 points — The solution has some differentiating features, but they are not strongly articulated or unique.
6 points — The value proposition offers differentiation, but it’s only moderately compelling or clear.
8 points — The solution has a well-defined, compelling, and differentiated value proposition.
10 points — The team has developed a highly unique and impactful value proposition that addresses a critical market gap, supported by strong analysis.

How well has the team iteratively refined their MVP through user testing?

2 points — No user testing or feedback has been conducted on the prototype/MVP.
4 points — Limited user testing has been performed, with minimal improvements based on feedback.
6 points — Some user testing has been conducted and feedback considered but not fully integrated.
8 points — User testing has been thorough, and feedback has been actively used to refine the MVP.
10 points — Extensive user testing has taken place, with valuable feedback driving significant, well-integrated improvements.

Continued MVP Development

Additionally, teams may qualify for additional funding in support of continued MVP development. Continued MVP development would likely be done in cooperation with an organization that would benefit from the solution, e.g., a nonprofit. This project-based funding would be evaluated and awarded separately and will depend on the nonprofit’s interest in working with the team and the team’s availability. Details on additional funding opportunities will be shared as they become available.

Development  Costs

Teams are solely responsible for any costs associated with the development of their prototypes and MVPs. Levels of free access and/or credit to specific AI and hosting platforms are available to Challenge participants and should be sufficient for development work up through the MVP Phase. Any costs incurred in excess of the free access and/or credits during or after the completion of the Nittany AI Challenge are the sole responsibility of the participants or team of participants.