STRATFORD, Conn., Nov. 29, 2016 /PRNewswire/ -- Sikorsky, a Lockheed Martin company (NYSE: LMT), today announced LiquidPiston as the winner and Spinar America as a Special Recognition awardee of the 7^th Entrepreneurial Challenge.

The Entrepreneurial Challenge, driven by Sikorsky Innovations, the technology development organization of Sikorsky, is designed to accelerate innovators and disruptive technology concepts with applications for the vertical flight market. 

LiquidPiston, based in Bloomfield, Connecticut, specializes in development of compact, powerful, quiet, efficient, low-vibration, scalable, multi-fuel capable rotary combustion engines, based on its patented High Efficiency Hybrid Thermodynamic Cycle. LiquidPiston received a $25,000 cash prize along with an opportunity to explore opportunities for LiquidPiston's technology with the Sikorsky product line.

Based in Dover, Delaware, Spinar America is an augmented and virtual reality technology firm that develops complete, custom immersive experiences. Spinar received a Special Recognition award for its exceptional entry of advanced augmented reality visualizations and applications to austere operating environments, including remote aircraft maintenance, using Epson Moverio AR glasses. With this recognition, Sikorsky will continue to explore potential alignments with existing technology needs.

"We have come to expect strong entrants from each new Entrepreneurial Challenge, and the seventh iteration did not disappoint. We look forward to working with LiquidPiston and Spinar, along with the rest of our existing awardee portfolio, to continue to develop the next generation of valuable technologies for our military and commercial customers," said Chris Van Buiten, vice president of Sikorsky Innovations. "At a time when Sikorsky is celebrating its first anniversary as part of the Lockheed Martin family, opportunities for our awardees have expanded to not only include interfacing with the leaders in vertical flight, but also with leaders who produce portfolios ranging from undersea to outer space products."

"The competition has set a standard as one of the longest running, consistent, external open innovation initiatives in the aerospace industry," said Jonathan Hartman, Sikorsky Entrepreneurial Challenge lead.  "It is a testament to Sikorsky's commitment to partner with the best in the world that can help usher in the future of vertical flight regardless of their size or scale."

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 98,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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SOURCE Lockheed Martin