How Does It Work?
By using the increasingly popular model of open innovation, companies can post projects of varying types and sizes on BrainMatch.
Companies can select from an assortment of criteria for how they want their project executed, including selecting milestones, limiting participation by region, or electing to award prizes to more than one winner.
The company decides how much the completed project is worth to them, and they list the award amount to be issued the winning student at completion.
Students can then browse through open projects and sign up to participate. Whether individually or in teams, students have the pre-determined timeline (as selected by the company) to complete the requisite work, according to the parameters set by the business. Based on the type of project, the student’s schedule, and the award amount, students are given the opportunity to opt-in to projects that they are interested in completing.
At the end of the competition, the company selects their top choice of all projects submitted. (They can even declare the competition a tie, and select more than one final winner.) Funds allocated by the company for the competition are then transfered into the students 529 college fund.
The company gets its project completed. The student gets money for college and real-life business experience to include on a college application. It’s a win-win for everyone involved.