Does your business or non-profit organization bank with SunTrust Bank?
If so, SunTrust Foundation and Synapse can help you access Florida’s most innovative and talented makers and doers to crowdsource a solution for a challenge facing your business.
How does it work?
SunTrust Foundation will sponsor a challenge on behalf of two non-profit organizations and one for-profit company.*
All you need to do is decide what challenge could be solved for your organization.
Then, apply here by June 15th.
Sponsored Challenge winners will be announced on July 1st.
Once the Challengers are selected, Synapse will work with you from beginning to end to ensure the Challenge is a success. From refining the Challenge to maximize participation, facilitating the Challenge launch and activating our state-wide network and coordinating the final presentations, Synapse will work with your company to facilitate these details.
A panel of judges including a representative from your company, Synapse and SunTrust Foundation will review the entries and select the top submissions. Synapse will work with you to coordinate and host a pitch party where finalists can present their solutions and the winner is announced and awarded a cash prize.
What’s the benefit to you?
Faster than traditional R&D – Challenges run 6-8 weeks and uncover dozens of potential solutions for your consideration. You have the benefit of harnessing talent across the community who can bring fresh ideas resulting in multiple innovative solutions.
Multiple solutions for you to choose from – Rather than focusing on a single approach, Synapse Challenges provide you with a variety of solutions for a single problem. You may find a single winner or several whose approaches can be combined to meet your needs.
Talent Pipeline – Challenges are a unique path for you to develop talent, find potential new business partners and new hires.
Branding Your Company as Innovative – Challenges give visibility to your business, building brand awareness and branding you as innovative and creative, and accessible to the community.
*SunTrust Foundation offer includes all Challenge management fees, plus up to $7,000 in prize money for non-profit companies to use towards their total prize allocation; prize money is not included for the for-profit challenger.