Philadelphia, PA (PRWEB) April 26, 2011
Knowledge@Wharton, the online research and business analysis journal of the Wharton School of the University of Pennsylvania, along with Wipro Technologies, a provider of transformational IT solutions, has identified 15 confirmed finalists for the second global Wipro-Knowledge@Wharton Innovation Tournament. The finalists have proposed bold new ideas and implemented solutions, ranging from using hair to clean up oil spills to using software to track students’ progress. Four subcategories will serve as the final themes: new ideas in the area of sustainability; implemented solutions related to sustainability; new ideas in the area of customer-centric innovation; and implemented customer-centric solutions.
Karl Ulrich, professor and Vice Dean of Innovation at the Wharton School, said, “An innovation tournament begins with a large set of opportunities. The ideas and solutions the finalists are proposing could have, or already have had a major impact on business and society as a whole” he added. Wharton professor Christian Terwiesch agreed, saying, “Sustainability and customer-centric innovation are two of the most important topics of concern today. We’re looking forward to the final presentations and evaluating their potential contribution." Terwiesch and Ulrich co-authored the book Innovation Tournaments: Creating and Selecting Exceptional Opportunities.
“We are pleased with the range of entries that the tournament received. This year, we had over 160 submissions stretching from all corners of the globe, from America to Tanzania. Forty semifinalists were selected, and now we have drilled down to the most promising submissions,” said Mukul Pandya, Executive Director of Knowledge@Wharton.
Judges from Wipro and Wharton selected finalists based on the novelty, feasibility, track record for established solutions, and overall potential. “Judging the semifinalists was challenging due to the vast number of high-quality entries. We are excited for the final presentations, and believe that society will benefit from the ideas and solutions generated from this year’s Innovation Tournament,” Pandya added.
On Wednesday, April 27th 2011, during a live event at the Wharton School in Philadelphia, USA finalists will conduct presentations before a panel of judges. The event will be streamed live on Wipro TV beginning at 8 a.m. EDT. Five cash prizes will be awarded -- $20,000 for the grand prize, and $5,000 for each of four innovation subcategories.
“Wipro is pleased to continue its work with Knowledge@Wharton on the Innovation Tournament. We understand that harnessing and sharing the power of knowledge is the only route to a successful and prosperous world. We hope that these videos will contribute to the sharing of knowledge as well as generate more ideas that benefit our society, and help companies do business better,” said Rajan Kohli, Chief Marketing Officer of Wipro Technologies.
Knowledge@Wharton is a free biweekly online resource that captures knowledge generated at the Wharton School and beyond through such channels as research papers, conferences, speakers, books, and interviews with faculty and other business experts on current business topics. The Knowledge@Wharton network – which includes Chinese, Spanish, Portuguese, Indian and Middle East editions -- has 1.68 million subscribers worldwide and contains more than 2,000 articles and research papers in its database. For more information: http://knowledge.wharton.upenn.edu.
About The Wharton School
The Wharton School of the University of Pennsylvania— founded in 1881 as the first collegiate business school — is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The School has more than 4,800 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 annual participants in executive education programs; and an alumni network of 86,000 graduates.
Wipro Limited is the first SEI CMM Level 5 certified IT Services Company globally. Wipro provides research and development services to telecom and electronic product companies and software solutions to global corporate enterprises. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration and IT services. Wipro also has a profitable presence in niche market segments of consumer products and lighting. Wipro’s ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange, among others. For more information, please visit http://www.wipro.com and http://www.wiproindia.com.