The InVenture Prize at Georgia Tech is a faculty-led innovation competition for undergraduate students and recent BS graduates of Georgia Tech. Students can work independently or in teams to develop and present inventions which will be judged by experts. The competitors introduce their inventions in the preliminary round, and the judges' scores determine who will advance to the quick-pitch semifinal round. Six finalists are then selected to advance to the final round shown live by Georgia Public Broadcasting. The final round prizes include:
- A cash prize of $20,000 for first place and $10,000 for second place.
- A free U.S. patent filing by Georgia Tech's Office of Technology Licensing, valued at approximately $20,000, for both the first-place and second-place winners.
- A People's Choice Award of $5,000 selected by online and text voting during the event.
- The 1st place winner of the InVenture Prize will automatically be accepted into the summer cohort of Flashpoint, a Georgia Tech business creation and innovation program.