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.
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.
The judging panel will assess the following:
- What is the strategic basis for the identified problem/gap (e.g., research conducted)?
- How is the problem/gap being specifically addressed?
- 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?
- 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
Solutions may include, but are not limited to, the following criteria:
- Directly aid better management of IBD
- Support physical well-being, mental health, or co-morbidities
- Generate disease awareness
- Healthcare IT
- Consumer products
STAGES OF DEVELOPMENT
- Ideas stage
- Early development
- Mature development
THE CHALLENGE IN NUMBERS
Applications open on Thursday, April 8, 2021
Applications close on Friday, May 21, 2021, at 11:59 PM EDT
The virtual Challenge will take place September 9-10, 2021
One entrepreneur will be awarded the 2021 Lyfebulb Innovation Award, sponsored by Arena, which includes $25,000