he Center for Advancing Innovation (CAI) has launched the Innovate Children’s Health Challenge, an open innovation contest to advance high-impact solutions to improve children’s health globally. With support from Resonance Philanthropies, a donor advised fund of the Silicon Valley Community Foundation, the Innovate Children’s Health Challenge will launch 15+ startups to commercialize promising therapeutics, diagnostics, prognostics, medical devices, and digital health solutions from the National Institutes of Health’s (NIH) intramural research program and CAI’s extramural research partners. This is the fourth challenge in an award-winning series of startup challenges developed by the partnership between CAI and National Cancer Institute’s Technology Transfer Center; following the Breast Cancer Startup Challenge, the Neuro Startup Challenge, and the Nanotechnology Startup Challenge in Cancer.
There are three ways to participate in the Innovate Children’s Health Challenge:
- Entrepreneurial-minded people — individually or in teams — may compete to commercialize vetted inventions, selected out of 5,500+ children’s health related-patents and patent applications by industry experts and potential investors
- Existing startups may enter the challenge with other children’s health-related inventions, including their own and/or others to which they have access
- Participants may submit ideas that they believe will improve children’s health. CAI will help ideators create a business model to advance their solutions
Enter the Innovate Children’s Health Challenge at http://innovatechildrenshealth.com/ to view the selected inventions, receive CAI’s virtual entrepreneurial training, engage with world-class mentors, and compete for prize money.
Teams will write comprehensive business plans that explain the market potential of their chosen inventions and proposed paths to commercialization, which they will pitch to a world-class panel of judges, advisors, and mentors. The judging panel will select winning teams based on the quality of their elevator speech, business plan, financial model, virtual pitch, and other deliverables. With assistance and entrepreneurial training from the CAI, winning teams will form their start-up, pursue licensing and/or collaboration agreements, and gain access to early-stage funding through CAI resources. Winners are expected to bring the inventions to market and/or advance them to the point where they exit.
Rosemarie Truman, Founder and CEO of CAI, said, “CAI is grateful to Resonance Philanthropies and NIH for their support and commitment to advancing innovation. Winners of the Innovate Children’s Health Challenge will be poised to not only generate outsized returns for investors, but also ignite social impact to the benefit of children worldwide.”
The Center for Advancing Innovation (CAI) is a global public-private partnership, non-profit focused on creating a virtuous circle of innovation and driving growth breakthroughs through novel, creative paradigms and models. CAI’s mission is to accelerate and increase the volume of technology commercialization to ignite entrepreneurship, bolster the global economy, and maximize the potential of promising inventions. CAI’s award-winning challenge-based accelerator, rigorous evidence-based due diligence, and capital-efficient lean management models serve to hyper-accelerate “gazelle” high-performing startups for outsized investor returns. Named as the “Tinder for Startups” by Nature, the “Kickstarter for IP” by Wired, and a “Powerful Innovation Toolkit” by the White House, CAI launched 300+ startups and trained 3500+ entrepreneurs in 100+ cities worldwide since 2014. For additional information about CAI, please visit http://www.thecenterforadvancinginnovation.org.
ABOUT RESONANCE PHILANTHROPIES:
Resonance Philanthropies is a donor advised fund of Silicon Valley Community Foundation with primary funding interests in Children’s Health and Plastic Pollution. The Fund supports the interests of its co-founders, Sheri Sobrato and Eric Brisson. Resonance House, one of the philanthropic funds, developed Shadow’s Edge, the first-ever free mobile game designed to build emotional resilience in young people facing health challenges. http://www.shadowsedge.com