2022 Global Innovation Challenge, in Collaboration with Bristol Myers Squibb: Addressing Unmet Needs in IBD

APPLY
New Jersey, USA
January 25, 2022

CHALLENGE TIMELINE

September 20, 2022
Applications Open
October 31, 2022
Submission Deadline
November 15, 2022
Finalist Announcement
January 25, 2022
Innovation Challenge
January 25, 2022
Winner Announcement

ABOUT THE SUMMIT AND AWARD

The goal of the 2022 Global Innovation Challenge: Addressing Unmet needs in IBD is to identify a wide range of innovative ideas and scalable solutions for better disease management and care. Unmet needs continue to afflict the everyday lives of IBD patients and their loved ones; we are seeking to change that, ultimately to improve outcomes and experiences for people affected by the disease.

The challenge is currently accepting applications through October 31, 2022. Selected applicants will be shortlisted as finalists and will receive an invitation to pitch their ideas and business solutions over the course of a one-day summit at Bristol Myers Squibb’s headquarters in New Jersey. An expert panel of judges comprised of healthcare industry, medical, and patient leaders will assess the innovators. Prizes will be awarded to two finalists to further grow their companies. The Innovation Award will be presented to a for-profit company and includes $25,000. The Impact Award will be presented to a not-for-profit company and includes $25,000.

In addition to the pitch competition, finalists will have the opportunity to engage with representatives from the patient community, industry, Lyfebulb, and Bristol Myers Squibb through workshops and learning hubs.

Key Pillars of Innovation

Diagnostics, monitoring, and patient services
Disease education and awareness
Quality of life and mental health
Access and health equity
System-wide improvements to care
Comorbidities

Target of Innovation

Patients, care partners, or industry professionals
Any stage of the patient journey

Criteria to Apply

Devices, technologies, products, and services
All stages of development welcomed
All countries welcomed
Individuals with registered companies
Drugs/therapeutics may not apply
Licensed/practicing HCPs may not apply

JUDGING CRITERIA

UNMET NEED

Strategic basis for addressing unmet needs
Demonstrated ability of the innovation to address these challenges

IMPACT

Potential of the innovation to improve outcomes or lived-experience
Degree of market impact and patient impact
Measurability of impact

MARKET FEASIBILITY

Uniqueness to the market
Feasibility of development and implementation
Market sustainability

THE CHALLENGE IN NUMBERS

1

Day

The challenge will take place January 25, 2022

10

Finalists

Ten finalists will present their solutions

$50

Thousand

Two entrepreneurs will be awarded $25,000 each

DRIVING CHANGE

The Lyfebulb Innovation Challenge, in collaboration with Bristol Myers Squibb, stems from the concept of the Lyfebulb Entrepreneur Circle established in 2015, which features individuals who have created a product and/or a company in response to their personal experiences with a chronic illness (through their own diagnosis or that of a loved one).