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Discussion Document: July 6, 2009
Heritage -‐ Brain Challenge Overview By: Rosemarie Truman, Founder and CEO, The Center for Advancing InnovaBon Apr. 26th 2014
THE$BRAIN$
CHALLENGE!
|$!
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 $5MM. Funding will come from venture capital, economic development corpora5ons, or other sources. Funding will not be provided by the NIH
• Team Design: Must have two University graduate students. Team leads can invite whomever they wish to their team; there is no maximum size. The Challenge Team must have at least two disciplines: medical/scien5fic and business. Students do not need to have these disciplines as long as they are represented). Please note that the team must include a seasoned entrepreneur
• Scope: Global; any University in the world may par5cipate For more informaBon, please contact: Rosemarie Truman at [email protected] or 202-‐438-‐2208
THE$BRAIN$
CHALLENGE!
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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
