RADFORD -- The clock is ticking. The 2009 Global Innovation Tournament (GIT), an international, apprentice-style competition for college and university students that seeks to promote innovation and problem-solving, has officially begun.

Radford University is the host institution for more than 60 teams comprised of an estimated 300 students from colleges and universities throughout the region who are competing in the GIT. Their task is to create videos designed to encourage those most affected by today’s global recession to build financial reserves and counter the perception that saving is difficult or unpleasant.

The 2009 GIT Challenge includes over 2600 students from 45 countries. The local winners, as determined by a team of judges composed of RU faculty, civic leaders and alumni, will be announced and featured at a winner’s showcase luncheon, sponsored by SunTrust, on Wednesday, Nov. 18 at RU’s Muse Banquet Hall.

“We are delighted to highlight the creativity that these young people will bring to bear on making saving money an important part of an individual’s lifestyle in this relevant experiential learning opportunity,” said Dean Faye W. Gilbert, dean of RU’s College of Business and Economics (COBE). “We also welcome the chance to convene our friends in celebration of their entrepreneurial spirit.”

The GIT Challenge asks participants to develop solutions with as much value as possible and present their solutions in a three-minute, self-produced video that will be published on YouTube for judging locally and globally.

“The juices of friendly rivalry are flowing. I’ve been very impressed by the willingness of our students to engage others across colleges and even other universities,” said Dr. Iain Clelland, associate professor of management and a member of the GIT planning committee. “Now that the challenge has been issued, it is clear that these teams are eager to embrace it and the judges are excited to see the results of their work.”

The submission deadline is Friday, Nov. 13 and winners will be announced at the Nov. 18 COBE winners’ showcase. Those local entries with the top solutions will be awarded prizes, courtesy of briancork.com/humancapital and Best Buy, and advance for consideration against the winners of the other 151 competitions taking place concurrently across the world. International winners will be announced at the Stanford University Announcement and Showcase of Global Tournament Winners Showcase on Dec. 3. The GIT Challenge is a featured element of Global Entrepreneurship Week coordinated by Stanford University’s Technology Ventures Program.