Monday, February 15
12:00 PM – 1:30 PM      

Organizers: Suzanne Tabbaa, PhD, and Farsh Guilak, PhD, ORS Innovation Network

Deadline to Submit Executive Summary: November 13, 2020 

About the BIC

The Business Innovation Competition (BIC) is an ORS program designed to highlight the commercial potential of new technologies for musculoskeletal research and therapy.  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 can participate with a great idea! No formal company formation is required!

Finalist teams will work with expert mentors (investors, serial entrepreneurs, industry experts) who will provide feedback and input on their commercialization strategies and pitch strategy. Webinars on the biodesign process and key factors such as regulatory, IP, and reimbursement that affect the translation of a technology are available on the ORS website to support ORS BIC participants and business plan development.

Finalist and semi-finalist teams will be selected to present their plans in the 2021 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 2021 Annual Meeting in Long Beach, California.  Semi-finalists, will compete in a poster pitch event during the Annual Meeting.

We invite individuals or teams with a great idea to participate in this exciting competition!

Teams are also encouraged and eligible to participate in the educational program Ready, Set Pitch: Learn How to Effectively Communicate a Great Idea.

  • 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 register for and attend the ORS 2021 Annual Meeting.
  • Those selected to participate in the poster competition must attend and display their poster for the duration of the ORS 2021 Annual Meeting.

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 three finalists, you must submit a Business Plan (up to 10 pages).

November 13, 2020Executive Summaries are due
December 4, 2020Top 10 semi-finalists will be notified *
December 9, 2020Semi-finalists will be matched with two mentors
December 16, 2020Finalists' full business plans are due
January 8, 2020Finalists' full business plans are due
February 15, 2021Business Innovation Competition will take place virtually