LAS VEGAS (FOX5) -- UNLV's Lee Business School has announced the creation of the Lee School Prize for Innovation and Entrepreneurship, as the school looks to compel entrepreneurs to develop innovations to help address the problems facing the hospitality, entertainment or travel industries due to COVID-19.
According to a news release, administered by the Lee Business School, multiple prizes will be awarded as investments totaling $1 million. The innovations must make the industry safer for both guests and employees of the hospitality or travel sector, the release said.
“If Las Vegas is the world leader in hospitality and entertainment, then it must lead now in identifying the best practices and products to safely chart the way forward for guests and employees in the travel and hospitality industries,” said Greg Lee, former Chairman of the UNLV Foundation and Chairman and CEO of Eureka Casinos. “When the time is right, we must give the customer confidence that it is safe and desirable to travel again, dine again, stay again, and play again.”
The Lee School Prize for Innovation and Entrepreneurship is accepting worldwide submissions open to individuals or companies until July 5. A committee comprised of the Deans of UNLV’s schools of Business, Science, Engineering and Hospitality, along with renowned industry experts, will judge submissions and select prize recipients, according to the release.
Prize winners will use the Lee School Prizes to develop and bring their concepts to a “Shark Tank”-like investor marketplace made up of leading corporations, private equity firms and angel investors.
Products and solutions must be brought to market within twelve months, officials said.
For more information about the Lee School Prize or to submit a proposal, visit: www.LeePrize.com. Submissions open May 11.