LicketyShip, which aims to provide same-day delivery of online purchases, was started as a partnership between students at the University of Notre Dame's Mendoza College of Business and undergraduate program and Yale University's graduate program.
The company envisioned a system where online customers would have the ability to search for a product available within a certain ZIP code.
When a customer purchases an item, LicketyShip uses an existing courier service to have someone drive to the store, pick up the item, and deliver it to the customer on the same day it was ordered.
The winners will be revealed in the November issue of Fortune Small Business magazine. The top-ranked team will receive a $35,000 prize.