Brain startup challenge flyer 4.26.2014

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Brain startup challenge flyer 4.26.2014

  1. 1. Discussion Document: July 6, 2009Heritage    -­‐  Brain  Challenge  Overview     By:  Rosemarie  Truman,  Founder  and  CEO,  The  Center  for  Advancing  InnovaBon   Apr.  26th  2014   THE$BRAIN$ CHALLENGE! |$!
  2. 2. The Brain Challenge – Executive Summary The Heritage Provider Network, National Institutes of Health and Center for Advancing Innovation     The  Heritage  Provider  Network  (HPN),  Na5onal  Ins5tutes  of  Health  (NIH)  and  Center  for  Advancing  Innova5on  (CAI)   have  partnered  to  launch  a  unique  Business  Plan  and  Start-­‐Up  Challenge.    The  topics  of  the  challenge  are   commercially  viable  Brain  inven5ons  that  are  important  to  public  health.  This  challenge  will  accelerate  the   commercializa5on  of  Federal  agency  brain-­‐related  inven5ons,  spur  economic  growth,  and  provide  Universi5es  a   plaKorm  to  further  develop  their  entrepreneurship-­‐learning  porKolio.       A  few  facts  about  the  Challenge:   •  Topics:  Each  Challenge  team  can  select  one  of  15-­‐20  Federal  inven5ons  conceived  and  developed  by  NIH’s  intramural   research  teams   •  Timing:  Enter  between  August  1st  and  October  3rd,  2014   •  Website:  hRp://www.brainstartupchallenge.org           •  Phases:  Three  phases  aUer  entering  –  Elevator  Speech,  Business  Plan  and  Start-­‐up     •  Challenge  Teams’  Opportunity:     •  Elevator  Speech:  Up  to  600  teams  will  pitch  to  a  reputable  panel  of  Venture  Capitalists  (VCs),  Entrepreneurs,   Biotech  Execu5ves,  NIH  personnel,  &  more   •  Business  Plan  Prize:    Up  to  100  teams  will  par5cipate,  5  teams  per  inven5on.    There  will  be  one  $2.5K  prize  per   inven5on  ($50k  in  awards)   •  Start-­‐up  Phase  Seed  Funding:  Up  to  40  successful  start-­‐ups  will  apply  and  be  awarded  funding  which  could  range   from  $100K  to  over  $5MM.    Funding  will  come  from  venture  capital,  economic  development  corpora5ons,  or  other   sources.  Funding  will  not  be  provided  by  the  NIH   •  Team  Design:  Must  have  two  University  graduate  students.  Team  leads  can  invite  whomever  they  wish  to  their  team;   there  is  no  maximum  size.  The  Challenge  Team  must  have  at  least  two  disciplines:  medical/scien5fic  and  business.   Students  do  not  need  to  have  these  disciplines  as  long  as  they  are  represented).  Please  note  that  the  team  must  include  a   seasoned  entrepreneur       •  Scope:  Global;  any  University  in  the  world  may  par5cipate     For  more  informaBon,  please  contact:  Rosemarie  Truman  at  rt@thecenterforadvancinginnovaBon.org  or  202-­‐438-­‐2208   THE$BRAIN$ CHALLENGE!|$!
  3. 3. Activities and Key Milestones 3 Proprietary and Confidential to The Center for Advancing Innovation. Do not distribute outside The Center for Advancing Innovation Phase  0:     Enter  Challenge   Aug.  1st  –  Oct.  3rd   2014   • Teams  submit   proposed  members   and  accept  CDA     • Aug.  1st:  Open   challenge  for  entries,   rolling  acceptance     • Aug.  15th:  Official   launch  ceremony   • Oct.  3rd:  Close  entry   acceptance   Phase  1:     Elevator  Speech   Oct  4th-­‐Dec.  1st  2014   • Teams  develop  a  2   minute  elevator   speech  video  and  also   a  350  word  execu5ve   summary   • Nov.  3rd  :  Due  date  for   elevator  speech  and   execu5ve  summary   • Nov.  4th-­‐24th:  Public   vo5ng   • Dec.  1st:  Announce   semi-­‐finalists   Phase  2:     Business  Plan   Dec.  2nd  2014  –     Apr.  1st            2015   • Teams  develop  a  10   page  business  plan   accompanied  by  a  live   pitch  and  20  minute   • Feb.  16th:  Due  date  for   business  plans   • Feb.  23rd-­‐27th  :  Live   pitches   • Apr.  1st:  Announce   finalists  and  winners   Phase  3:     Start-­‐up   Apr.  2nd-­‐Aug.14th   2015     • Teams  launch  their   startup;  raise  capital   and  nego5ate  a  license   to  the  inven5on   • Bi-­‐weekly  milestones   for  teams  –  schedule   to  be  outlined   • Aug.  14th:  Announce   startup  medal  of  honor   awards  

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