Prizes in the idea phase will be awarded to the team lead for further distribution. Teams will be responsible for determining the method of prize allocation to individual members. Prizes in the prototype and MVP phases will be distributed to individual members of the team or, alternately, to an associated legal entity (LLC, 501c3, etc.) or Penn State unit.
- Idea Phase: Up to 20 proposals will be selected to each receive one $500 prize to incentivize and assist in the development of a prototype for the second phase of competition.
- Prototype Phase: Up to 10 prototype submissions will each be awarded one $1,500 prize to incentivize and support the development of a minimum viable product (MVP) for the third phase of the Challenge. Individuals will be responsible for any and all financial implications of the prize, including tax liability and impact to financial aid.
- MVP Phase: Each team submitting an MVP will be eligible to receive a prize from a pool of $25,000 to incentivize and support the continued development, application, and/or commercialization of their solution. Prizes in this phase will vary from $0 to $25,000 based on need, potential, and quality of the MVPs. Funds awarded during this phase will be tied to the advancement of the project, with criteria for distribution established jointly by the Nittany AI Alliance and the winning team(s).
- By default, prizes in each phase will be awarded to each team on a pro rata basis. Individuals will be responsible for any and all financial implications of the prize, including tax liability and impact to financial aid.
- If the team decides to form a legal entity, prizes in each phase will be awarded to the designated legal entity. The entity will be responsible for any and all financial implications of the prizes, including tax liability and impact to financial aid.
- Teams are solely responsible for any costs associated with the development of ideas, 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.