STRATFORD, Conn., April 5, 2017 /PRNewswire/ -- Sikorsky Innovations announced today the launch of the 8^th Entrepreneurial Challenge.

The Entrepreneurial Challenge, led by Sikorsky Innovations, the technology development organization of Sikorsky, a Lockheed Martin Company (NYSE: LMT), is designed to accelerate innovators and disruptive technology concepts with applications in the aerospace market.  Since its inception in 2012, the competition has named 16 global awardees and is actively pursuing collaborations with a number of awardees in its portfolio. 

As part of the new competition, the organization is expanding its focus areas to include technology needs for platforms and programs across Lockheed Martin's Rotary and Mission Systems business.  The competition will continue to feature a non-dilutive $25,000 cash award for the winner(s) and an opportunity to collaborate with the leaders in global security and aerospace.

"The Entrepreneurial Challenge has proven an effective mechanism to engage with non-traditional partners and help expand the Innovations network," said Chris Van Buiten, vice president of Sikorsky Innovations.  "It's a truly unique opportunity for entrepreneurs, whether in a garage or in the offices of a medium-sized growth enterprise, to reach out and explore collaboration with a Fortune 100 enterprise that's invested in finding those partners that can add value for our defense and commercial customers."

For the 8^th competition, Sikorsky Innovations, along with its competition partner the Stamford Innovation Center, is continuing its tradition of unveiling a new set of focus areas: (1) Distributed, Reconfigurable MEMS Sensor Network; (2) Adaptive Communications for Assured Data Exchange; and, (3) Advanced Sensor Fusion. These areas highlight current technologies the company believes represent disruptive opportunities for the aerospace market for which near-term opportunities exist for collaboration with Sikorsky and other Lockheed Martin Rotary and Mission Systems organizations.

To participate in the Challenge or learn more, visit the Challenge's competition's website at http://www.lockheedmartin.com/echallenge. Applications are due to the online portal by 5 p.m. EDT on Friday, July 14.

Teams may submit applications to one or more of the questions. Applications will be judged on technical feasibility, value proposition, and team expertise.  Finalists will be chosen from the applicant pool, and will have the opportunity to present their technology to Lockheed Martin leadership and experts. Winners, Honorable Mention and/or Special Recognition awards will be granted based upon the quality of the presentations, which will enable ongoing interaction with Sikorsky and Lockheed Martin personnel.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin