Schenectady, NY (WIBX) - Price Chopper Supermarkets is sponsoring a competition, challenging students to be creative when it comes to business.

The grocery chain is inviting colleges and universities to participate in its fourth annual "Ultimate Innovation Competition." Students will create solutions to problems in areas including Retail Store Operations and Distribution Management.

$30,000 will be distributed among the finalists with the best ideas. More than 50 teams competed in last year's "Ultimate Innovation Challenge," presenting projects from all areas including diversity, health and wellness and social networking.

To enter, students must present a one-page abstract to the company by Friday.

Interested teams should read the official rules and fill out the registration form at www2.pricechopper.com/innovation. Abstracts must be submitted to innovation@pricechopper.com by February 10th at 5 p.m.