Hickam
to Intern at
The Egg Factory
GALAX GAZETTE
Friday, June 28, 2002
ROANOKE
- Most summer interns spend their time copying, faxing
or occasionally writing an interoffice memo, but at
The Egg Factory this summer, interns will be concerned
with developing billion dollar innovations that could
change the world.
Elizabeth
Hickam of Galax, a rising senior at Roanoke College,
will participate in the Innovation Challenge, an
all-expense paid internship program where students
spend their summer creating innovations or “eggs,”
that will have the potential to significantly alter
various industries.
Last
year’s students developed a “Smart Surface,”
making electrical appliances wireless.
The also developed “Scent-A-Peel,” an air
freshener with the longest lasting scent in the
industry, and “Vit-O-Mine,” a customizable vitamin
regimen.
All
three innovations are now under consideration for
further investment, and a Fortune 500 company has
already expressed interest in one.
On
June 2, 16 students, hailing from as far away as India
and as close as Roanoke, embarked on the two-month
intensive internship program.
“For
some students, hands-on learning is very effective,”
said Dr. David Gring, president of Roanoke College.
“The
“eggs” that Elizabeth and her teammates create
will be remarkable, but these students are truly the
“golden eggs”.
Their ambition and education make them a
desirable part of any team.
Roanoke College is proud to support the
Innovation Challenge.
The
16 students were selected from various colleges and
universities including the University of Virginia,
North Carolina State, Virginia Tech and Roanoke
College.
The
program was first held in summer 2000 when nearly 100
people applied for 12 spots.
Last
year the program expanded to 16 students and nearly
400 applied. This
year more than 800 students vied for the positions.
An
extensive interview process helped determine the
participants.
“These
students are the knowledge capital of the future,”
said Ron Blum, president of The Egg Factory.
“We want to develop their talents and spark
their passion for innovation.
It will benefit them, but it will help our
society too.”
Because
the innovation process involves many different
disciplines, teams were created.
Each
team includes an engineering student, a liberal arts
student, and industrial design student and a business
student.
Their
mission is to create potential “golden eggs” that
meet the following criteria:
- The
potential of more than $1 billion in annual
revenue within five years of commercial launch.
- The
potential to control a vast majority of the new
space being created.
- The
potential of commercial development within three
years.
- Proprietary
technology.
- Benefit
to society.
“The
Egg Factory is providing us with a tremendous
opportunity this summer,” said Hickam.
“What I do this summer has the potential to
make a real difference in the world.
That’s inspiring.”
Teams
will conduct focus group discussions and analyze
markets. With
the help of Roanoke College professors, businessmen,
scientists and technology experts, they will
investigate patents and licenses and learn about
financing a company.
At
the same time, the students will attend seminars given
by world-renowned experts such as Dwight Duston,
former head of research and development for the
Strategic Defense Initiative, Michael Greenfield,
deputy administrator at NASA, and Tim Howe, venture
capitalist and Columbia University business professor.
All
of the components and corresponding lectures will help
the students write a comprehensive business plan,
which will be presented to The Egg Factory and Roanoke
College.
The
team with the best innovation wins a cash award.
The students ‘eggs” will then be considered
for investment and therefore remain confidential.
