High Level Overview - Recapped
- The National Institutes of Health (NIH) has a significant portfolio of inventions available for licensing. The Center for Advancing Innovation (CAI) has evaluated many of them to identify those with the strongest commercial viability
- The Avon Foundation, the NIH, and CAI are launching a start-up Challenge to exploit these opportunities
Challenge Phases
- Letter of Intent (LOI): Teams provide information regarding the members of their team and indicate how team members meet eligibility requirements. Teams also outline their intent to participate in the Challenge
- Business Plan (BP): Teams develop a 10-page business plan or business model canvas; a five minute "live" pitch; and a one minute elevator speech via recorded video
- Start-up (SU): Teams incorporate their start-up and apply for seed funding and the NIH start-up license or a license from the Clemson University Research Foundation (for this invention). In order to complete these three activities,the teams should refine their commercialization plan, development plan, regulatory strategy and comprehensive view of their management team and board of advisors