Dear SharpBrains community,
We have read Alvaro Fernandez’s publication regarding the BRAIN Initiative in Venture Beat and thought our first-of-a-kind Brain Start-up Challenge would be of interest to many of you.
To provide some background, the National Institutes of Health, Center for Disease Control and Prevention, Center for Advancing Innovation and the Heritage Provider Network, have partnered to create a “first of a kind” Brain Challenge. The Challenge will feature 20 rigorously selected brain related inventions that have commercial viability and are important to public health. The primary goal of the Challenge is to stimulate the creation of start-up businesses based upon these inventions. The last challenge we launched exceeded expectations and received mentions from the White House, an exclusive from Nature Magazine and several leading media outlets. The White House is following the Brain Challenge very closely and we expect more than 1,000 people from around the world to participate.
A bit on the challenge: teams with the minimum of two graduate students and an entrepreneur may enter the challenge, teams must have both business and medical expertise. A team may enter starting August 1st by selecting one of the inventions and providing information about their team. There are three phases: elevator speech, business plan and start-up. The opportunity for participants is prize money, launching a start-up and raising funds of up to $1 million.
To give you also some background about how the inventions were selected: our team analyzed 18,000 patents to find the inventions that were ultimately selected. Our due diligence model uses over 135 variables to rigorously assess market attractiveness, operational feasibility, medical/scientific viability, etc. which led us to short-list the inventions selected. The NIH technology transfer specialists and office of technology transfer also made sure the inventions were in the clear.
As mentioned, the Brain Start-up Challenge is now the second one that we’ve launched; the first one was the Breast Cancer Start-up Challenge. The Breast Cancer Start-up Challenge exceeded expectations and is the largest in the world of its type in the first year running. Our team received the HHS Innovates Secretary’s Pick award after 7 rounds of judging for the Breast Cancer Start-up Challenge.
–> We’re launching the challenge officially on August 1st and will start accepting entries. You can learn more about the Brain Start-up Challenge HERE.
Founder and CEO, The Center for Advancing Innovation
- Infographic on the Digital Brain Health Market 2012–2020
- 2014 SharpBrains Virtual Summit (October 28–30th, 2014)