NIH’s Neuro Startup Challenge

Washington, D.C. – In a global challenge, teams of students and entrepreneurs compete to commercialize 16 National Institutes of Health (NIH)-conceived inventions involving therapeutics, diagnostics, prognostics, and medical devices for a range of brain diseases. The Neuro Startup Challenge was developed by the Heritage Provider Network (HPN) with the NIH and Center for Advancing Innovation.

The National Institutes of Health (NIH) has a significant portfolio of inventions available for licensing. The Center for Advancing Innovation (CAI) has evaluated many of them to identify those with the strongest commercial viability

The Heritage Provider Network, the NIH, and CAI are launching a start-up Challenge to exploit these opportunities

Challenge Phases
Phase 0: Enter Challenge: Teams provide information regarding the invention they have chosen to develop their business plan around, details and backgrounds of the members of their team, and how team members meet eligibility requirements. Teams also outline their intent to participate in the Challenge. (Ended Dec. 12, 2014)

Phase 1: Elevator Speech: Teams develop a two minute elevator speech via recorded video; a 350 word executive summary outlining potential commercial product(s) and company vision. Winners of this phase will move on to Phase 2: Business Plan. (Voting closed Jan. 16, 2015).

Phase 2: Business Plan: Teams develop a 10-page business plan with a detailed financial plan; a 20 minute "live" pitch presented to the challenge judges. The winners of this phase will receive a $2500 award per team that is provided by CAI and The Heritage Provider Network as well as move on to Phase 3: Start-up

Phase 3: Start-up: Teams launch their start-ups, including incorporation, apply for licenses, and executing other regulatory/developmental needs

Source: Nuero Startup Challenge