"According to Silverman, winning the competition has given Majorwise credibility and financial relief. As first prize winners, the UVM juniors received $30,000 in cash and $45,000 in in-kind support. They will use the money to hire more developers, Silverman said. Currently, they can only afford to pay for 10 hours' worth of work each week, he explained.
As a result of the boost in manpower, Silverman predicts he and Robbins will be able to release an improved version of their platform a month earlier than planned. They will also make use of the cash prize to attend conferences for human resource professionals, so that they can market their product. Attendance at these events costs between $500 and $2,000, which had previously been "out of reach" for them, Silverman explained."
Read more to see how Packetized Energy will use the Innovation Prize Award.