The purpose of the ORS Business Innovation Competition (BIC) program is to provide the resources and opportunity for both early-stage companies, as well as clinicians, researchers, students of all levels with a great idea in the field of musculoskeletal research to participate in a program 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. This session will provide an opportunity for interdisciplinary feedback and collaboration between industry, academics, and clinicians.
The ORS BIC program consists of three phases:
- Phase I involves development of a team and submission of an executive summary (use this template). The ORS Innovation Network spanning industry, academia, and clinical will review the initial submissions. The top three teams will be selected to compete in the final pitch event at the ORS 2023 Annual Meeting. The remaining teams will have the opportunity to compete in a poster pitch event (semi-finals) during the ORS 2023 Annual Meeting.
- Phase II involves the top 3 finalist teams writing a 10-page full written business plan and connecting the teams with expert mentors. Each team will be connected with two mentors who have extensive experience taking new product to market. During the second phase, a webinar series will be held for all teams, both finalists and semi-finalists. The webinar series will include expert speakers covering the various aspects of commercialization – including topics such as intellectual property, regulatory, reimbursement, scaling-up, competitive analysis etc. The webinars will be available for all ORS members. The participating teams are required to attend the webinars as part of the BIC program.
- Phase III will be the actual pitch events held during 2023 ORS Annual Meeting. The BIC will include two sessions (podium and poster session). The top 3 finalists will have the opportunity to pitch their companies during an oral presentation session (10 min presentation and 10 min Q&A/Feedback). The session will include a panel of expert judges who will score their oral presentations based on an established ORS BIC scoring system.
The top 10 semi-finalists will compete during a poster session. Expert judges will score their 1-min elevator pitch and poster content based on ORS BIC scoring system. In addition to the pitch events, the Innovation
Following the competition, the ORS Innovation Network Group will host a networking event to provide an opportunity for participants and ORS members to network with experienced academics, clinical partners, and leading industry judges and supporters. During the ORS Closing Session, the top finalists will be announced and awarded.
Important Dates for the ORS 2023 Business Innovation Competition:
|September 22, 2022||Virtual Session complementing the BIC|
|October 14, 2022||Call for executive summary deadline|
|November 5, 2022||Executive summary reviews and selections; finalists and semi-finalists|
|November 7, 2022||Teams are notified of selection and matched with expert mentors|
|December 5, 2022||Deadline - Top 3 teams will submit a 10-page in-depth business plan|
|December 2022/January 2023||Expert panel of judge’s review business plan|
|February 2023||Live Business Innovation Competition|
Have a Great Idea? What’s Next? Learn the Basics of Taking an Idea to a Commercial Product and Resources at the ORS
September 22, 2022
9:00 AM – 10:00 AM (CENTRAL)
- Provide an overview of the Innovation Network and Business Innovation Competition
- Learn the nuts and bolts for starting a company
- Provide an overview of the start-up roadmap
- Learn how to effectively communicate your technology at various stages
Roland Herzog, PhD
Committee member, ORS Innovation Network
Head of Technology Transfer
Farshid Guilak, PhD
Committee member, ORS Innovation Network
Washington University at Saint Louis
Suzanne Tabbaa, PhD
Chair, ORS Innovation Network
University of California, San Francisco
Starting a Company and Selling Your Story—Keys to Success on the Way to Market
Nicholas Pachuda, DPM
Chief Operating Officer