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. 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. 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
