RIVER NORTH — Startups, start your engines.
The Chicago Challenge Cup, hosted by tech incubator 1871, will bring more than 30 teams and their ideas to River North Wednesday to compete for cash prizes.
Reps from 31 startups will make their impassioned pitches Wednesday in the incubator located on the 12th floor of 222 W. Merchandise Mart Plaza to a panel of investors that includes Kevin Willer of Chicago Ventures, Rumi Morales, executive director of Strategic Investment at CME Group, and Abigail Seldin, co-founder of College Abacus.
Four winners will be chosen — one in each category of education, health, energy and cities — and will advance to the national Challenge Cup finals in Washington, D.C., in May, which includes free travel and a one-week stay in the capital.
Sixteen Challenge Cups hosted across the globe will produce a total of 64 competitors for the national title.
Winning the Chicago Challenge Cup has been a boon for startups in previous years.
MyPower, the 2014 clean energy winner that recently rebranded under the new name Ampy, went on to win the national Challenge Cup in D.C., made a killing on Kickstarter, more than doubling its goal, and is now inching towards making its product available to consumers.
Contenders this year include a magic tablet white board that lets students and teachers work collaboratively and smart window glass with an adjustable tint that can transition from clear to totally dark to conserve energy and block out unwanted heat.
Check out a full list of competitors on the Chicago Challenge Cup website. General admission is free for spectators, but reservations are recommended.
The event will run from 5:30 to 9 p.m.
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