The first Idea to Product® competition was held in 2001 at The University of Texas at Austin by the Technology Entrepreneurship Society in cooperation with the Chair of Free Enterprise, the College of Engineering, and the IC2 Institute and its MSSTC Alumni Association. Over 200 UT Austin student teams have entered the competition—representing the colleges of engineering, natural science, business, law, and liberal arts—since the first competition in 2001.
In 2002, the College of Engineering, the McCombs School of Business, and the IC2 Institute collaborated to develop an international version of the I2P Competition. The execution of the I2P® Global Competition was modeled after the MOOTCORP® competition.
Six teams competed in the first I2P® Global Competition, which was hosted by UT Austin in November 2003. Twelve teams competed in the November 2004 event. 15 universities from Asia, Europe, and North America competed in the 2005 competition.
Following the growth model of MOOTCORP®, regional I2P® competitions are being established in Asia and Europe, with the inaugural competitions planned for Fall 2005 and Summer 2006, respectively. I2P® Asia will be co-hosted by the National University of Singapore and A-STAR; the Imperial College of London will host I2P® Europe.
The staff of the Chair of Free Enterprise are the primary coordinators of the international event, with support from TES. As in the UT Austin competition, entries are judged based on the market opportunity, technological feasibility, and intellectual property position of the underlying innovation. The teams compete for over $25,000 in cash prizes, and the winner of I2P® Global may compete in the Global MOOTCORP® Competition.
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