Lyfebulb and Arena Pharmaceuticals Present: Imagining Life Without Limits – An Inflammatory Bowel Disease Innovation Challenge

APPLY
Virtual Summit
September 9-10, 2021

CHALLENGE TIMELINE

April 8, 2021
Applications Open
May 21, 2021
Submission Deadline
June 22, 2021
Finalist Announcement
September 9-10, 2021
Innovation Challenge
September 10, 2021
Winner Announcement

ABOUT THE SUMMIT AND AWARD

Rooted in Lyfebulb and Arena’s shared commitment to continuous innovation in patient care, the Imagining Life Without Limits – An Inflammatory Bowel Disease Innovation Challenge seeks to source innovative solutions to better equip inflammatory bowel disease (IBD) patients, support partners, and all those affected by the disease with the tools to help manage disease, navigate daily life, and improve overall quality of life.

The Innovation Challenge, sponsored by Arena, will take place virtually in September 2021 and is currently accepting applications from innovators through May 21, 2021 to participate in the Challenge. Entrepreneurs personally affected by IBD – as a patient or as a support partner for a loved one – developing solutions to an unmet need identified in their disease journey are especially encouraged to apply.

Selected applicants will receive an invitation to pitch their ideas and solutions to an expert panel of judges comprised of healthcare industry, medical, and patient leaders over the course of the two-day summit in September. One winner will be selected to receive a $25,000 monetary award to further the development of their solution. Competing finalists may be considered by Arena for possible partnerships or investment opportunities beyond the Challenge.

In addition to presenting their innovative ventures, the finalists will have the opportunity to exchange ideas on how to further advance patient innovation in IBD and engage with Lyfebulb founders, Arena leadership, representatives from the IBD patient community, key opinion leaders, and potential investors.

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JUDGING CRITERIA

The judging panel will assess the following:

UNMET NEED

  • What is the strategic basis for the identified problem/gap (e.g., research conducted)?
  • How is the problem/gap being specifically addressed?

IMPACT

  • Does the innovation have the potential to improve the lives of people affected by IBD?
  • How great of an impact (market impact and patient impact) will the innovation make and how will it be measured?

MARKET FEASIBILITY

  • How is the product or service unique to the market?
  • What is the feasibility of development and implementation into the marketplace (e.g., funding, regulations, requirements for testing)?

CRITERIA FOR APPLYING TO THE INNOVATION CHALLENGE

Lyfebulb and Arena are seeking a wide range of solutions to improve outcomes and experiences for all those affected by IBD. Applying companies must be registered in the United States.

Solutions may include, but are not limited to, the following criteria:

INNOVATIONS

  • Directly aid better management of IBD
  • Support physical well-being, mental health, or co-morbidities
  • Generate disease awareness

CATEGORIES

  • Devices
  • Healthcare IT
  • Consumer products

STAGES OF DEVELOPMENT

  • Ideas stage
  • Early development
  • Mature development

THE CHALLENGE IN NUMBERS

8

APRIL

Applications open on Thursday, April 8, 2021

21

May

Applications close on Friday, May 21, 2021, at 11:59 PM EDT

2

Days

The virtual Challenge will take place September 9-10, 2021

$25

Thousand

One entrepreneur will be awarded the 2021 Lyfebulb Innovation Award, sponsored by Arena, which includes $25,000