We encourage submission of these types of initiatives. Finalists will be chosen by an award committee, regardless of initiative type/category, finalists invited to the conference and a single overall winner will be chosen at the conference.

1. Operational Excellence Initiative: Significant improvements in operational efficiency, productivity, or cost management through technology or process innovation.
2. Technology Innovation Project: Implementation of new or emerging technology that has positively impacted business outcomes (e.g., AI, IoT, Blockchain).
3. Digital Client or Employee Experience Transformation: Highlights initiatives that have elevated customer or employee experiences, such as user-friendly digital platforms, self-service solutions, or streamlined digital interactions.
4. Culture of Continuous Innovation: Organizations that have embraced a mindset of innovation, fostering an environment of experimentation, adaptability, and continuous improvement.

To be eligible for the Excellence in Innovation Award, organizations must meet the following requirements:

• Industry Relevance:
• Nominees can self-nominate or be nominated by others.
• Nominees must be equipment finance organizations and current regular members (as defined by the ELFA) at the time of application.
• Joint submissions (i.e. service provider and equipment finance organization): are acceptable however, only the equipment finance organization will receive the award.
• Multiple Submissions from the same organization are acceptable – as recognition is measured by project or initiative.
• Project Implementation Timeline: Initiatives or projects must have been implemented or achieved measurable impact within 12 months prior to the application deadline.
• Tangible Outcomes: Projects should demonstrate clear, measurable outcomes such as cost savings, revenue growth, improved client or employee satisfaction, operational efficiencies, or cultural transformation.
• Alignment with ELFA’s Mission: Initiatives should align with ELFA’s values of advancing innovation, ethical standards, and continuous improvement in equipment finance.
• Live Participation at ELFA Innovation Lab Conference: Applicants must be willing to send at least one representative to the ELFA Innovation Lab Conference (September 10, 2025, Denver, CO at the Denver Hilton City Center hotel) to participate in the Live Presentation session if the applicant is chosen as an Excellence in Innovation Award Finalist.

The Excellence in Innovation Award finalists and ultimate winner will be recognized at the 2025 Innovation Lab Conference & Exhibition, September 8-10, 2025, held at the Denver Hilton City Center in Denver, CO.

• Finalists will be determined by the Award Committee and will be invited to attend and present their project at the Innovation Lab Conference and Exhibition.
  • Each Finalist will be given one complimentary registration to attend and present at the conference. Additional registrations may be purchased.
• An Opportunity to be Crowned Winner: Finalists will present the story of their initiative in front of a live audience at the ELFA Innovation Lab. The Winner of the Excellence in Innovation Award will be determined and announced live.
• Feature in ELFA’s Marketing Materials: Winning company will be included in post conference press releases, newsletters, social media, and on the ELFA website.
• Physical Award: Winner will receive a physical award to display within their organization.

  You've worked hard to improve your company's technology and operations. Get the recognition your team deserves. Enter today!

Submit Here

Award applications are due by 11:59 PM Eastern Time, Monday, June 30, 2025.

All award submissions must be submitted through the online application link above. Once your application is submitted, you will receive an auto-reply email confirming the submission.

Award Application & Submission Instructions

Eligible organizations must submit an application that includes:

1. Project Summary (500 words): A concise overview of the project, including the problem it aimed to solve, the innovative solution implemented, and its objectives.
2. Implementation Details (500-700 words): A detailed description of the project timeline, key activities, and technologies used.
3. Outcome Metrics: Specific data demonstrating the impact, such as:
   • Percentage increase in productivity or cost savings
   • Improvement in client or employee satisfaction scores
   • Revenue or growth metrics directly attributable to the initiative
4. Innovation Story (up to 700 words): Describe any mindset or cultural shifts within the organization, if applicable, and how these shifts promote ongoing innovation.
5. Supporting Materials: Up to three supporting documents (e.g., screenshots, testimonials, dashboards) that help illustrate the project’s impact and success

   Finalists will be notified the week of July 28, 2025. All applicants will be contacted regarding the award finalists by August 1, 2025.

Evaluation Criteria - Submissions will be evaluated based on the following:

• Innovation (30%): How original, creative, and forward-thinking is the solution?
• Impact (30%): How significant is the initiative’s business value, and how effectively has it met or exceeded its objectives?
• Scalability (20%): How replicable or scalable is the initiative across other areas or teams?
• Level of Difficulty/Risk (20%): Factoring in constraints like budget, timelines, and ability/willingness to fully dedicate resources, how much did the organization take themselves out of their comfort zone to achieve their desired outcome?

Judging Process

• Panel of Judges: A sub-committee of the Innovation Committee, which includes industry leaders, technology experts, and leaders in equipment finance will review applications.
• Review Rounds: The judging process will include two rounds:
  • Initial Screening: Applications are reviewed for eligibility and completeness and scored by the committee based on the application.
  • Interview Round: A virtual interview will be held with each applicant from the top applications as selected by the committee. Representatives will be asked to describe (or even better, demonstrate) how they will take their story from the page to the stage. Excellence In Innovation Award finalists will be chosen from this group based on the committee’s assessment of each applicant’s storytelling and presentation ideas.
  • Live Pitch: Excellence in Innovation Award finalists will take to the stage at the ELFA Innovation Lab for a 10-to-20-minute presentation (determined by the number of finalists for a given year), where the audience and judges will decide the winner of the Excellence in Innovation Award.