RICHMOND, Va., April 12, 2016 /PRNewswire/ -- Union Bankshares Corporation announced today that the 2016 Union Innovation Challenge will take place on Thursday, April 14, at the Virginia Tech Carilion Research Institute in Roanoke.
Virginia Tech student entrepreneur teams will pitch their ideas for new healthcare, wellness or medical devices in a competition for funding for their projects. The event includes a poster session by nine student teams, a keynote panel discussion, pitches by the six finalist teams and a presentation of awards. First prize is $7,500 funding toward the winning team's project. The runner-up team will receive $2,500.
Union is also awarding $2,500 to the "Fan Favorite" team. The public is invited to visit the Union Innovation Challenge site to read synopses of the eligible teams' ideas and cast their votes.
The Union Innovation Challenge is held in partnership with the Pamplin College of Business' Apex Systems Center for Innovation and Entrepreneurship and drew 47 entries from student teams this year. It is intended to benefit participants and, ultimately, the economy of Virginia.
"Virginia has a long history of producing great entrepreneurs, and Virginia Tech has an innovative approach to their entrepreneurial curriculum," said Union's chief banking officer and Innovation Challenge judge Tony Peay. "The university's commitment to business excellence is perfectly aligned with Union's desire to help businesses grow and prosper. We're excited that our support could mean the world's next great company may start right here in Virginia."
ABOUT UNION BANKSHARES CORPORATION
Headquartered in Richmond, Virginia, Union Bankshares Corporation (NASDAQ: UBSH) is the holding company for Union Bank & Trust, which has 124 branches and nearly 200 ATMs throughout Virginia. Non-bank affiliates of the holding company include Union Mortgage Group, Inc., which provides a full line of mortgage products, and Union Insurance Group, LLC, which offers various lines of insurance products.
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SOURCE Union Bankshares Corporation