For the first time, the student-run group, Utah Entrepreneur Series (UES), is holding a competition that allows soon-to-be engineers at the University of Utah to pitch their ideas for a cash prize.

The UES College of Engineering Innovation Tournament will be held Tuesday, Oct. 28 in room L102 in the Warnock Engineering Building. It is one of four new competitions the group is holding.

Much like the popular television reality show, “Shark Tank,” students will stand before a panel of up to two judges to pitch their ideas for a business based on an engineering concept. The winner with the best idea will receive a $500 cash prize.

“It can be about a product or service. It has to be something that has a business plan in mind,” said Blake Wayment, associate of innovation for UES and organizer of the engineering tournament. “The Innovation Tournament really stems from, ‘Here’s a problem, here’s my proposed solution.’ It’s supposed to be as basic or as complex as it needs to be.”

The UES is part of the Lassonde Entrepreneur Institute, and its goal is to ignite the entrepreneurial spirit in students.

“We want people to get into the spirit of entrepreneurialism,” said Wayment, a junior majoring in electrical and computer engineering. “Engineers don’t have too much time. Everyone’s thinking of ideas, but not everyone realizes they can pull it off [turning it into a business]. They can come up with an idea and they can get it going and own their own business.”

To register for the competition, visit