Written by John Fulton, Jr. on .

The Cade Museum Foundation has announced that it is now accepting entries for the Second Annual Cade Prize for Innovation. The grand prize is a cash award of $50,000, plus one year of free office space at the Gainesville Technology Enterprise Center (GTEC).

The competition is open to Florida inventors and entrepreneurs, and the deadline for submissions is noon on December 31, 2010. Applicants must submit a 500 word abstract to demonstrate that their idea is innovative, creative, interdisciplinary and commercially viable, and feasible. Semi-finalists will be required to submit more substantial disclosure materials.

The Cade Museum for Innovation and Invention is named for James Robert Cade, leader of the University of Florida team that created Gatorade.  For more information about the Cade Prize for Innovation click here.