Market Overview

Avnet and Arizona State University Invite Enterprising Students to Compete in Third Annual ASU Innovation Open


Visionary student ventures from across the country are invited to
compete for a $100,000 grand prize to further their new technology

Avnet (Nasdaq: AVT),
a leading global technology solutions provider, today announced that in
partnership with Arizona
State University
(ASU) and the Ira
A. Fulton Schools of Engineering
, applications are now being
accepted for the 2019 ASU Innovation Open (ASUio), a multi-round
competition that supports student ventures from across the United States
in driving technology innovation and entrepreneurship. Students will
compete for a grand prize of $100,000 to continue development of
ventures powered by new hardware technologies. Interested teams should apply online and
applications will be accepted through October 31, 2018.

"At Avnet, we have a passion for working with students to promote
entrepreneurship. Together with Arizona State University, we are able to
encourage and build that entrepreneurial spirit through the Innovation
Open," said MaryAnn Miller, senior vice president, chief human resources
officer, and global marketing & communications for Avnet. "As technology
continues to change the way we live, we are excited to see how students
are working to change our world for the better, and we look forward to
helping them along the way."

"The Innovation Open is a terrific example of ASU's commitment to
supporting entrepreneurship in all of its forms," said Ira A. Fulton
Schools of Engineering Dean Kyle Squires. "The success of last year's
competition was due in large part to the leadership and commitment
of Avnet, along with other dedicated sponsors and ASU colleagues. We are
looking forward to drawing an even broader range of competitors as we
move forward."

The ASUio is open to all current university students from any academic
discipline. Submissions must include a five-minute video pitch that
discusses the problem solved by the team's technology, as well as the
overall competitive landscape, business model and team makeup.

The ASUio will take place in three rounds:

  • First Round: All applicants will be evaluated by
    entrepreneur judges with entries narrowed to 15 semi-finalists who
    will advance to the next round.
  • Semi-Finals: On December 8, 2018, semi-finalists will
    present their projects in-person before a select panel of expert
    judges at ASU SkySong in Scottsdale, Arizona. Five finalists will be
    selected to advance to the finals.
  • Finals: Finalists will deliver in-person pitches before a
    panel of judges during the Final Demo Day at the ASU Memorial Union on
    February 1, 2019, in Tempe, Arizona. In addition, finalists will get
    to participate in a VIP experience. One student venture will be
    awarded the $100,000 grand prize.

For more information on the ASUio, to submit an application, or for the
list of rules, please visit

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All brands and trade names are trademarks or registered trademarks,
and are the properties of their respective owners. Avnet disclaims any
proprietary interest in marks other than its own.

About Avnet

From idea to design and from prototype to production, Avnet supports
customers at each stage of a product's lifecycle. A comprehensive
portfolio of design and supply chain services makes Avnet the go-to
guide for innovators who set the pace for technological change. For
nearly a century, Avnet has helped its customers and suppliers around
the world realize the transformative possibilities of technology. Learn
more about Avnet at:

About the Ira A. Fulton Schools of Engineering

The Ira A. Fulton Schools of Engineering, with more than 21,000 enrolled
students, is the largest engineering school in the United States,
offering 39 graduate and 25 undergraduate degree programs across six
schools of academic focus. With students, faculty and researchers
representing all 50 states and 135 countries, the Fulton Schools of
Engineering is creating an inclusive environment for engineering
excellence by advancing research and innovation at scale,
revolutionizing engineering education and expanding global outreach and
partner engagement. Learn more about the Ira A. Fulton Schools of
Engineering at

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