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Winners
Challenge Overview
High Level Overview - Recapped
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.  Only teams that have the intent of creating a start-up will be accepted into the Challenge.  NOTE: third-party inventions will be accepted and evaluated independently from NIH inventions.  There is no maximum of third party inventions accepted into the Challenge; a maximum of 10 teams per NIH invention will be accepted
  • 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 be the semi-finalists to move on to Phase 2: Business Plan.  NOTE:  A maximum of five (5) semi-finalists from each NIH invention and five (5) semi-finalists from third-party inventions will move on to Phase 2
  • Phase 2: Business Plan: Teams develop a 10-page business plan with a detailed financial plan as well as a 20 minute "live" pitch presented to the Challenge judges.  The winners of this phase will receive a $2000 award per team that is provided by CAI as well as move on to Phase 3: Start-up.  NOTE: A maximum of three (3) winners from each NIH invention and four (4) winners from third-party inventions will move on to Phase 3
  • Phase 3: Start-up: Teams launch their start-ups, including company incorporation, apply for licenses, and executing other regulatory/developmental needs.  Note: 2.5% equity in every winning startup created out of this challenge will be granted to one of the pharmaceutical companies supporting the Challenge; .5% royalty income will be provided to another one of our pharmaceutical companies.  Additionally, a board of advisers seat will be awarded to this external company (no fiduciary responsibility)
Key Dates
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Team Eligibility and Guidelines
  • Names: For team names and for required documents we require teams to stick to the guidelines for file naming conventions.  However, we encourage teams to create alternate team names to show their spirit and creativity
  • Inventions: Teams may bring other promising cancer nanotechnology inventions or may select an invention provided by the NIH agencies listed here.  Please read the rules on the Inventions page if your team wishes to bring on a third party invention. Teams are not restricted to compete on one invention only
  • Disciplines: Teams must be cross-functional, representing business, medical/scientific, and entrepreneurial disciplines.  It also may be useful for some Challenge teams to have computer science and/or engineering expertise
  • University Participation: Two team core members must be University graduate students, post-docs and/or residents
  • Team Size: As large as the lead student decides; the minimum team size is three people
  • Type of Team: Teams may be formed out of an university or on an individual basis; the primary requirement is that 2 core members must be University graduate students, post-docs, and/or residents
  • Age: All team members must be over 18 years old
  • Required Team Member: Seasoned entrepreneur, who is a person who has founded a Life Sciences, biomedical and/or health IT company; raised dilutive and non-dilutive capital for that company and have exited either successfully or unsuccessfully.  We prefer entrepreneurs that have tenure of at least five years (a minimum of three years) in a start-up and also have had corporate experience
  • Recommended Team Members: Include collaborators, mentors and advisors on your team as defined here
  • Geography: This team is open to international participation; there are no geographic restrictions except where this Challenge is prohibited by law
  • Start-up: Teams must have the intent of creating a startup for the Challenge
Deliverables Per Phase
Phase 0: Enter Challenge - (you will provide all documentation electronically through the LOI form):
  1. Choose an Invention: The model of this Challenge encompasses high-value inventions from the NIH agencies.  Teams may choose a NIH provided invention from the inventions list.  Additionally, a team may choose to bring an invention outside of those provided by the NIH and CAI.  Please read the rules on these inventions on the Inventions page
  2. Letter of Intent Form: Challenge teams will need to select their invention and provide details on their team including their entrepreneur.  Core team members will need to attach their resumes as part of the LOI.  The team will also need to submit their statement of intent to participate in each phase of the Challenge.  Click here for the LOI form
  3. CDA Form: Team members will need to populate their information as well; the CDA form can be found here. Note that team members include the core team members, advisors, mentors as well as collaborators
  4. Resumes and Optional Documents: Each team must submit their resumes in one single word document or pdf file. You can submit your Resumes here

Phase 1: Elevator Speech
  • 2 minute elevator pitch in a recorded video, uploaded on our YouTube site
  • 350 word executive summary
  • Accelerator training planned and provided by CAI
  • Public voting and core team evaluation

Phase 2: Business Plan – estimated 20 pages PPT and Word (not including appendices):
  • 10 page business plan with dilutive/non-dilutive funders or potential licensees* ~11pt font (depending on font type), title and table of contents should not be numbered, appendix should not be counted in the 10 pages
  • Additional accelerator training planned and provided by CAI
  • 20 minute (5 minute presentation, 5 minute Q&A, 10 minute preparation time) live pitch via WebEx, to the Challenge judges and to potential funders
  • 10 page pitch deck (maximum length is 10 pages PowerPoint or Prezi)
*appendices should be added and submitted with your business plan as a supplement, to be available on request from the judges

Phase 3: Start-up
  • Start-up company incorporation
  • Applications for the NIH license
  • Applications for dilutive/non-dilutive funding
  • Management team selection