Cole Manship talks about the Healthcare Innovation World Cup that challenges entrepreneurs and innovators to develop creative solutions for global public health.
347 million people suffer from diabetes globally with the number of the deaths expected to grow two-thirds by 2030, according to the World Health Organization. To combat the lack the diabetes management solutions, the Healthcare Innovation World Cup is challenging entrepreneurs and innovators with novel solutions for tackling the worldwide diabetes epidemic to enter the Healthcare Innovation World Cup for a chance to win part of $75,000 in total funding and key visibility with industry leaders.
To learn more about the challenge, we spoke to Cole Manship, Director of Healthcare Innovation World Cup.
What is Health Innovation World Cup and what lead to its inception?
The Healthcare Innovation World Cup challenges entrepreneurs and innovators to develop creative solutions for global public health issues. In 2013, the competition focuses on improving the health of patients with diabetes, inviting critical thinkers worldwide to propose novel ideas for enhancing prevention, early diagnosis, and management of the condition.
The international challenge offers participants a high-profile stage to showcase their work, with $75,000 in total prize money for winning solutions and networking opportunities with industry leaders.
The Healthcare Innovation World Cup grew out of a series of health innovation competitions that HITLAB held at the Indian Institute of Technology in New Delhi. Those events yielded such high-quality ideas that we wanted to broaden the scope to a global level.
Why is there a specific focus on diabetes management particularly type 2 diabetes for the challenge?
The Healthcare Innovation World Cup focuses on diabetes because of the significant need for pioneering solutions. Globally, 347 million people have diabetes, and the number of deaths from the disease is expected to grow two-thirds by 2030, according to the World Health Organization. It’s estimated that 90 percent of these individuals have type 2 diabetes.
We think solutions will come from a variety of sectors – entrepreneurs, technology innovators, public health workers, healthcare providers, patients, and others. Through this challenge, we are engaging those diverse stakeholders and also encouraging cross-pollination of ideas from multiple regions of the globe.
Tell us more about the submission process?
We are accepting entries now until March 31. The initial entry process takes just a few minutes, and involves submitting a brief overview of the innovation via our website at www.healthcareinnovationworldcup.com
In April, we will ask selected participants to submit business plans and videos detailing their ideas. Then, semifinalists from Africa, Asia and the Middle East will compete in a demonstration day in New Delhi, India. Semifinalists from Europe and the Americas will present their ideas at an event in New York, USA.
The Healthcare Innovation World Cup will culminate in a final event at the German Center for Research and Innovation on May 10 in New York City. You can find more information here: http://www.healthcareinnovationworldcup.com/index.php/schedule.html
Can you tell us more about your weighted criteria and rules around your 5 focus areas for potential applicants?
Overall, our scoring criteria is designed to reward innovations that can alleviate critical gaps in diabetes prevention, diagnosis and/or management; are markedly innovative and novel compared to offerings currently available; show high potential for financial sustainability; and come from an individual or team with the capabilities to bring the idea to fruition. We also have incorporated a social media engagement component into our scoring.
Participants will prove the merits of their innovations and their ability to meet these criteria through their business plans, videos, and demonstrations during the semifinal and final events.
Should applicants have a demo-ready prototype or just an idea to apply?
We welcome entries at all stages of development, prior to commercialization. Teams with models or prototypes will have an opportunity to demonstrate those at the semifinal and final events.
What are some of the benefits for competitors to participate?
Participants have an opportunity to win a portion of $75,000 in total prize money, plus network with and showcase their innovations for healthcare and technology leaders. Competitors will retain ownership and equity of their ideas, and we anticipate that connections made during the course of the challenge will help the most promising ideas reach the marketplace.
Can you tell us more about the judges for the challenge?
We have an exciting line-up of executives, thought leaders and providers from the healthcare, technology, and venture capital sectors. We will be announcing the final judging panel shortly and will make details available via our website at www.healthcareinnovationworldcup.com
How successful were the past winners of 2012’s challenge and have they gain significant traction since winning?
Most past winners invested their prize money in education, and we look forward to seeing great things from them in the next few years.
Tell us more about your partnership with StartUp Health?
Through our media partnership, StartUp Health has played a significant role in helping to raise awareness of the Healthcare Innovation World Cup within their network and via social media. We appreciate all that they do, not only to support the Healthcare Innovation World Cup, but also to serve as a valuable resource for the healthcare and health IT communities.
Where do you see the role of healthcare innovation improving global health over the next five years?
There is enormous potential for innovative approaches to healthcare – including devices and applications – to improve both the quality and accessibility of disease prevention, diagnosis, and management. Easy-to-use, off-the-shelf diagnostic tests will increase accessibility and bring disease diagnosis to areas of world where it is currently unavailable. Remote monitoring devices will collect data that is used to fuel new medical discoveries and improve care delivery. Plus, sophisticated mobile applications will provide patients with personalized information to promote prevention and disease management.
Any final thoughts/comments?
All innovators with novel ideas for diabetes should visit www.healthcareinnovationworldcup.com by March 31 to enter the Healthcare Innovation World Cup!