Samsung Create: Flexible Future Business Plan Contest Samsung

Samsung seems to be making progress with its flexible displays as it's now searching for ideas on how to use the technology in future products.

Samsung (NASDAQ:SSNLF) has started a contest in search of the best design and business plan using flexible display technology. The Korean manufacturer is granting a $10,000 grand prize for the winner, as well as $5,000 for second place and $2,500 for third place. Starting Aug. 29, contestants can begin submitting their ideas to Samsung, with the following stipulations:

The flexible display is a key part of your product: Ideas must be completely unique and original and not something already on the market with the addition of a flexible display (like smartphones).

Plan feasibility: Products must be marketable to a large audience and must be appealing to venture capitalist investors.

Timeline abstractions: Contestants must omit timing for prototype submission in their business plan or include timing within an abstract.

Cost assumptions: Contestants must focus on the practical value of their product rather than cost.

The application deadline is Oct. 6, but Samsung has designated an early submission deadline for Sept. 15, for which contestant may receive tips on how to improve their business plans.

Samsung has detailed its official rules for the contest, and those interested in submitting an idea should be aware that Samsung will own your idea regardless of whether you win or lose. The following passage in the rules indicates Samsung’s exclusive rights to any materials submitted:

"By submitting an Entry, Contestant grants to Samsung the irrevocable, royalty-free right to use all or a portion of the submitted materials, along with the Contestant’s name, company name, trademarks and logos, in any promotional materials produced by Samsung. Further, Samsung will have the right to otherwise use and disclose any submitted material in connection with the Contest. The foregoing grants shall apply in perpetuity or to the maximum extent permissible under applicable law."

Those interested can visit the official contest website for more information.

Samsung notably unveiled its Samsung Youm flexible display technology at the Consumer Electronics Show in January. Thus far, most news about Samsung’s flexible displays has indicated its use within smartphones and televisions.

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