The Freedom from Cancer Startup Challenge

Description

The Center for Advancing Innovation and MedImmune have partnered to launch the Freedom from Cancer Startup Challenge (FCSC). The FCSC will feature risk mitigated, and commercially viable inventions from leading hospitals, universities, tech transfer groups, and professional research organizations. The FCSC is inviting submissions of inventions from inventors and cancer innovators. The goal of the challenge is to accelerate and increase the volume of commercialized cancer inventions by launching new startups. Funding is provided by the Laura and John Arnold Foundation.

High Level Overview

The Center for Advancing Innovation (CAI) has launched the Freedom from Cancer Startup Challenge (FCSC), an unprecedented, open innovation challenge to create 100 startups around commercially viable cancer-related inventions. The Laura and John Arnold Foundation (LJAF) has committed $1.2 million dollars for the orchestration of this program. CAI will also leverage additional funding from MedImmune/AstraZeneca for the sceintific advisory and development of these startups.

Challenge Phases

Phase 0: Enter Challenge: Teams provide details and backgrounds of the members of their team, and how team members meet eligibility requirements. Teams also choose their invention and 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. A maximum of 10 teams per 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 invention 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 virtually to the Challenge judges. The winners of this phase will receive a $2500 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 invention

Phase 3: Start-up: Teams launch their start-ups, including company incorporation, apply for licenses, and executing other developmental needs. NOTE: 0.5% equity in every winning startup created out of this challenge will be granted to the host organization

Incentives - Why Join FCSC?

Accelerator Training

Learn about business planning and strategy from our world class consulting experts

Support and Mentorship

Receive personalized feedback, advice, and guidance from our advisors and mentors

Prizes and Pitching

Win thousands in cash prizes and potential to pitch for startup seed funding*

Expand Your Network

Network with participants from various branches and communities of the industry

Media Coverage

Receive unprecedented media attention from news outlets, journals, and the White House

Start a Company

Start a new career and join the ranks of the next generation of technology entrepreneurs

In addition to the licensing opportunity, 100 FCSC winners will receive invaluable networking, marketing assistance, enrollment in CAI's recognized accelerator program, mentorship from experts, and exclusive webinars from top industry professionals. FCSC winners will get access to these valuable resources and more beyond the challenge. Once a winner of a CAI challenge, always a winner of a CAI challenge!

Participate in CAI's curated accelerator training program and learn about business planning from world class strategy consulting experts. This includes...

• Entrepreneurial Success Factors
• Commercialization Planning
• R&D Roadmaps
• IP Strategy
• Regulatory Strategy
• Financial/Commercial Strategy
• Financial and Valuation Modeling
• Market Analysis
• Stakeholder Engagement
• Industry/Venture Collaborations
• Investment Strategy