Applications for the 2015 Innovation Tank are open. Read on for more information on the application process.
The second annual Innovation Tank features a panel of business-savvy venture capitalists, clinicians/researchers and industry leaders who will consider pitches from innovators seeking investment for their business or product solution designed to improve pediatric care. Judges will decide how to “invest” sponsored funds and will provide valuable insights on accelerating innovations and bringing them to market. Read about the inaugural Innovation Tank here.
- 2014 Innovation Tank, hosted by Daymond John
Criteria and Eligibility
- Innovation or product must advance pediatric health, or have both adult and pediatric applications
- The product can be a prototype, nearing launch, or on the market
- Applicants can be an individual or team of innovators
- No specific background or experience is required
- Innovation or product must be a part of a formed or envisioned company
- Applicants must have a developed business plan
- Applicants must ensure there are no known or potential concerns or disputes regarding ownership or intellectual property rights, and must disclose all prior funding.
- Applicants must demonstrate an assertion of clear title to and ownership of all righs in the ideas and information submitted
- Must demonstrate an ability to move the proposed plan to completion and articulate how the prize money will accelerate the innovation’s path to market
- Applicants must be able to pitch the innovation live to a panel of judges and the Taking on Tomorrow audience on Monday, November 9, 2015. Finalists will be allotted 6 minutes to pitch their idea, followed by 8 minutes of Q&A with the judges.
Applicant must submit the following:
- Summary of business plan, not to exceed 1,000 words, including:
- Description of the team and/or company
- Concise description of the innovation, including current stage of development
- Value proposition stating the pediatric (and adult as applicable) problem the innovation addresses with statistics referencing market size
- Description of similar products and competitors
- Explanation of the innovation’s competitive advantage
- Product development plan or roadmap
- Outline of secured investment sources and funding needed to advance the product
- Description of proprietary rights including any patents filed or issued
- Full disclosure of other similar competitions that this product has been or will compete in
- CV, resume or corporate profile for lead innovator(s)
- Signed disclaimer acknowledging that the Innovation Tank is a public competition. Ideas presented in the Innovation Tank may be shared and discussed through media, social media, video, etc.
- Applicant may submit up to three (3) graphics, drawings or videos to assist in the explanation of the innovation
- Applications must be submitted by 11:59 p.m. ET on September 21, 2015.
- After an internal vetting process, Boston Children’s Hospital will select three finalists for the Innovation Tank. Finalists will compete at the Taking on Tomorrow Global Pediatric Innovation Summit + Awards 2015, on Monday afternoon, November 9, 2015, at the Seaport World Trade Center in Boston.
- Applications will be judged on:
- How significantly the product would advance health care
- Novelty / innovativeness
- Strength of business model
- How compelling product is to both the public and the media
- Barriers to entry
- Credibility of the team
- Please note that no feedback will be provided to applicants not selected as finalists. All decisions are final.
- Full judging panel to be announced
Prize money, provided by the Innovation Tank sponsoring company, in the amount of $30,000 will be awarded. Judges will determine the amount awarded to each finalist. Prizes will be announced at the conclusion of the Innovation Tank on Monday afternoon, November 9, 2015, at the Seaport World Trade Center in Boston.
Application submission process opens
Application submission process closes
Innovation Tank at Taking on Tomorrow