Joe Braun, general manager of Indianapolis machine tool builder Hurco North America, announced that Hurco will hold its inaugural Chipmaker Challenge contest for entrepreneurs in manufacturing. The contest gives new shops the chance to pitch their business plans for a chance to win their choice of a Hurco VMX42i mill or TM8i lathe.

Participants will answer a series of questions and provide an essay and/or video during the application period from July 1 through Aug. 8, 2014. The top five finalists will appear in front of a panel of judges at the Hurco IMTS booth Sept. 9, 2014.

"The idea of the Chipmaker Challenge evolved as we discussed ways to add some excitement to IMTS and get publicity for the entrepreneurs in our industry who do remarkable things each and every day," Braun said. "Our customers are competitive, proud of the businesses they've built and the products they make. We decided to model the Chipmaker Challenge after the TV show Shark Tank in order to create an exciting, competitive, entertaining event that showcases manufacturing entrepreneurs and highlights the hi-tech aspect of manufacturing in this country.

"We know there is an effort to rebrand manufacturing so young people and their parents better understand 21st century manufacturing, and we hope the Chipmaker Challenge might bring more attention to the industry," he added.