Of the more than 2,500 entries received this year, three finalists have been chosen and will square off this weekend for a chance to win a $10,000 savings bond.
The three finalists, who stopped by The Early Show to share their inventions with Early Show co-anchors Harry Smith, Julie Chen and Maggie Rodriguez include:
•Jared Mann, 13, Christiansburg, VA
"The Fridge Guard" - A curtain designed to help any ordinary refrigerator become more energy efficient.
•MaryAnn Bulawa, 14, Ava, NY
"Smart Toilet" - A device that attaches to a toilet for conservation of energy and water.
•Matthew Huber, 13, St. Peter, MN
"Petri Bubbles" - A scientific tool designed as an inexpensive alternative to Petri dishes.
A popular theme this year for the contest is conservation, which is reflected in Mann and Bulawa's inventions.
Bubble wrap was invented in 1960 to protect delicate items during shipping. It also happens to provide hours of entertainment - who can resist the urge to pop those tiny pockets of air?
This marks the fourth year that the Sealed Air Corporation, the company that makes Bubble Wrap, has been holding the annual competition.
On Saturday, the three finalists will present their inventions to a panel of judges, and a grand prize winner will be chosen in New York City.
Watch the three finalists show off their inventions.