2020 Business Innovation Competition

2020 Business Innovation Competition (BIC)

Organizers

Farshid Guilak, PhD, Department of Orthopaedics, Washington University
Suzanne Tabbaa, PhD

2020 Business Innovation Live Pitch Competition Awardee:

Ensign Pharmaceutical, Inc.
Team Members: Brian Beck, MAcc, Steven R Goldring, MD, Dong Wang, PhD, Gang Zhao, PhD

2020 Business Innovation Poster Competition Awardee:

Argyle Scientific

About the BIC

Researchers, clinicians, and engineers at all levels are invited to participate in this exciting program! Participants will be given the opportunity to validate the market potential of their technology and develop a commercialization plan through expert mentorship and feedback to assist in translating their ideas from bench to market. The competition includes interdisciplinary feedback and collaboration between industry, academics, and clinicians.

Teams will work with expert mentors (investors, serial entrepreneurs, industry experts) who will provide feedback and input on their commercialization strategies and pitch delivery. Archived webinars on the biodesign process and key factors such as regulatory, IP, reimbursement that affect the translation of a technology are available on the ORS website.

A total of 15 teams will be selected to participate in the 2020 ORS BIC. The top 3 teams will be selected as finalist and will be invited to pitch their ideas during the live competition at the ORS 2020 Annual Meeting in Phoenix, Arizona. 12 teams, semi-finalists, will compete in a poster pitch event during the Annual Meeting.

We invite individuals or teams to participate in this exciting competition!

Submissions are now closed. Thank you for your application!

Competition Rules

Teams should have no more than four individuals participating at the competition.
At least two of the participating members must be ORS members.
The technology should be aligned with ORS vision and mission.
Teams should be diverse and multi-disciplinary in nature.
Products and/or services may be conceptual in nature.
Teams with just a concept or early stage companies are eligible to participate (Revenue < $50,000).
Participants acknowledge that participation in the Business Innovation Competition constitutes public disclosure.
Only one submission per individual.
All finalists (poster and live competition) are required to attend and register for the ORS 2020 Annual Meeting.
Those selected to participate in the poster competition must attend and display their poster for the duration of the ORS 2020 Annual Meeting, February 8-11.

Application Information

To enter the Business Innovation Competition, you must submit the following information as a 1 page Executive Summary:

Executive Summary Template

Summary of Company
- Company objective and vision
- Team and management plan
Clinical need
Technology/Innovation
- Technology description
- Include the product, process, or service that will be developed from your innovation and how it meets the unmet clinical need
Commercial potential
- Market segments
- Customer profile
- Market trends
- Competitive analysis
Intellectual property strategy
Commercialization strategy
- Strategy for implementation
- Risks to commercialization
- Regulatory and reimbursement strategy
- Market and sales strategy
Financial Plan
Revenue stream

If you are selected as one of the five finalists, you must submit a Business Plan (up to 10 pages).

Important Dates

October 30, 2019	Executive Summaries are due
November 23, 2019	15 teams will be notified *
November 23, 2019	Top 3 teams will be matched with two mentors
December 16, 2019	Finalists' full business plans are due
February 8 - 11, 2020	ORS 2020 Annual Meeting will hold the pitch and poster pitch competitions
February 10, 2020	12:15 PM – 1:30 PM Business Innovation Competition 1:30 PM – 3:00 PM Education Session: “Investor Perspectives on Innovation and Academic Technologies.” 7:15 PM Happy Hour & Networking Event

* The top three applicants will be required to submit a full business plan (up to 10 pages). The 12 semi-finalists will compete in a poster competition at the ORS 2020 Annual Meeting.

Past Awardees

2019 Business Innovation Competition was supported by:

2019 Business Innovation Poster Competition Awardees

Company: Embody
Team Members: Michael Francis, PhD; Yas Maghdouri-White, PhD; Nathan Kemper; Jeffrey Conroy; Scott Bruder, MD, PhD

2019 Business Innovation Competition Live Pitch Finalists

Company: AperiosBio
Product/Service: Biodegradable Implant for Fracture Healing in Orthopedic Trauma
Team Members: Kevin Cyr, Dylan Peterson, Rajiv Tarigopula, Peipei Lyu

Company: Novosteo
Product/Service: Bone Fracture Pharmaceutical
Team Members: Stewart A Low, Jeffery Nielsen, Dan Hasler

Company: Triptych Surgical
Product/Service: Spinal Fusion Implant
Team Members: Dimitriy Kondrashov, Jeremi Leasure, Boris Vayn