An Innovation Challenge is a competition designed to encourage creative problem-solving and the development of new ideas or products. Participants, often individuals or teams, are tasked with addressing a specific issue or need within a set timeframe. These challenges can be organized by companies, educational institutions, or non-profit organizations to foster innovation and collaboration. Typically, participants present their solutions to a panel of judges, who evaluate the ideas based on criteria such as feasibility, originality, and impact. Successful entries may receive funding, mentorship, or opportunities for further development, helping to bring innovative concepts to life in the real world.