Digital media is alive and well in Utah. Digital media programs at Utah’s colleges and universities are preparing the creative and technical talent vital to the growth of one of our state’s most exciting emerging industries.
The business side is equally dynamic. Our video game industry grew by more than 32 percent from 2005-2006, added $77 million to the economy and employed more than 2,000 Utahns. The movie industry is also doing well here in the state with movie and TV production spending increasing more than 30 percent in 2008 to $144.5 million.
Some of the best 3D animation, compression technology, and games, such as those associated with Disney and Wii, all come from Utah. This innovation combined with Utah’s robust entrepreneurial spirit creates the ideal environment for the next Concept to Company Contest which will focus on digital media and entertainment.
The Concept to Company contests are ongoing innovation contests held in various regions across the state of Utah and were created as a way to encourage entrepreneurism and stimulate business growth in the state. Each competition focuses on a different industry and matches the unique entrepreneurial strengths of that particular region. To date, the Concept to Company contests have distributed more than $190,000 in prize money and helped over 18 companies bring their business idea to fruition.
This new digital media contest is sponsored by Grow Utah Ventures, Zions Bank, USTAR, Workman Nydegger, Ballard Spahr and CFO Solutions and will be open to new products or services in the digital media industry, including, mobile phone applications, computer animation, video streaming, gaming, graphics and compression technology.
Applications may be submitted now through the submission deadline of February 17, 2010. After the submission deadline, a group of finalists will be invited to pitch their ideas to a panel of digital media industry experts on March 10, 2010 in Salt Lake City, Utah as part of the Pushbutton Digital Media Summit. The panel will evaluate ideas based on innovation and ability to implement the technology in a real time or live application.
The winning entry will receive up to $35,000, comprised of cash and the equivalent value in consulting or prototyping services to help bring the idea to fruition. Two runner-up winners will each receive up to $17,000 comprised of cash and services.
For more information on the “Concept to Company” contests, including an application for the Digital Media contest visit www.ConceptToCompany.org
