As unemployment continues to climb in Anchorage and around the state, the University of Alaska is launching a challenge to its students -- to partner with the business community to find innovative solutions to community problems, including ones that may create new jobs.

Gretchen Fauske, with the UAA Center for Economic Development, joined KTVA Saturday to discuss what it will take to win the top prizes: $3,000 for first place, $2,000 for second and $1,000 for third.

"The university's really committed to fueling Alaska's economy and so, it's a real opportunity for us to start of use some start-up tools, some new ways of thinking and bring it across the UA system," Fauske said.

UAA is calling on teams to present their ideas, for things like a new business model, app or policy recommendation, by March 9. Winners will be selected by March 23.

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