The State Employees Credit Union Foundation gave its first of four $200,000 annual gifts Tuesday to the Institute of Emerging Issues at North Carolina State University to fund the 2014 Prize for Innovation.

The newly named State Employees’ Credit Union Emerging Issues Prize for Innovation competition engages college students to respond to challenges affecting North Carolina in the areas of education, health, the environment and economy. 

The institute started the competition in 2010 to "energize North Carolina's young people to take action in their communities, and find creative and innovative ways they can get involved in policy and economic development."

This year, the SECU Foundation's gift will allow the institute to expand the competition, offering $50,000 in prizes to the winning college teams in each issue area.