Important Notes on Submissions
Jotform Online Submission
Phase 0 will be using the Jotform platform for submitting documents. Please read the important notes below for properly submitting your forms.
All Phase 0 deliverables are due by May 1st, 2016 at 11:59pm (EST)
Letter of Intent (LOI) Form: The team leader should submit ONE (1) Letter of Intent form via the Jotform online submission system. To answer the Letter of Intent to completion you will need these things from your team:
CDA form: All team members (team leader, core team members, mentors, advisors, and collaborators) need to populate the CDA form
Resumes and Optional Documents: one (1) file containing all resumes for all team members, mentors and advisors
Stakeholder Analysis Tool: We also strongly urge you to perform the proper stakeholder analysis for all phases of this Challenge. We are providing a "Stakeholder Analysis Tool" for your use. The Stakeholder Analysis Tool is used to identify stakeholders, and to assess their influence and favorability. Stakeholders are individuals and groups, both inside and outside the Challenge team/start-up, who can:
The Stakeholder Analysis Process: Brainstorm a list of stakeholders, asking the following questions:
Industry and Academic Collaborators: Please also consider creating an optional document that contains all your collaborators (put all the collaborators information in one document with headers to separate different collaborators); please upload all collaborator information in one file and submit with your Resumes. See a list of types of collaborators below.
Criteria, Guidelines, and Scoring
Overall Scoring: Accepted teams will be determined by the Challenge hosts based on the criteria below. Final Communications to accepted teams will occur on May 2nd, 2016
Mandatory Documents: Provide all mandatory documents outlined above in the "Phase 0 Overview and Submission Requirements;" as indicated, you will find a sample of all the documents here
Scoring Criteria: Please find below criteria and guidelines that will assist you in entering the Challenge
Overall Criteria: Adhere to the Eligibility requirements and Official Rules
DIMENSION 1 - ABILITY TO EXECUTE
DIMENSION 2 - SUSTAINABILITY
Phase 0 Accepted Teams
There will be a maximum of ten (10) teams per NASA invention that will move on to Phase 1: Elevator Speech. Teams will be determined by the Challenge hosts based on the criteria above.
Overall Scoring: Scoring will be based on a combination between evaluations completed by the Challenge judges and each teams' performance in crowdsourcing and public voting
Audience: Remember that the audience could be a person that is unfamiliar with science. Tailor your pitch to a diverse set of viewers, e.g., potential investors, pharma collaborators, Key Opinion Leaders (KOLs), etc.
Elevator Speech Guidelines and Scoring Criteria: In two minutes concisely describe your company, its IP, and its mission/vision while remaining captivating and engaging. Your video will be graded on these three criteria:
Executive Summary Guidelines and Scoring Criteria: An executive summary is not an abstract! You should ensure that you touch on nuances that will distinguish you from your competition. Explain the basic elements of the proposed business. Below are some things you may want to include (but are not limited to):
Business Plan (10 pages + appendices): Begin with the end in mind. Make sure you understand seed funders' criteria for investment and NASA licensing agreement requirements. Leverage CAI’s templates/guidelines for your business plan, regulatory strategy, development plan, and commercialization plan, etc.
Financial Model (Excel format only):
(Optional) Business Model Canvas: A visual chart for describing a firm's product, value proposition, infrastructure, customers, and finances. It is a consolidated template for developing and displaying your business model
Live Pitch (20 minutes - 5 minute presentation, 5 minute Q&A, 10 minute preparation time)
Please note: provide details regarding any assumptions you have in your financial models, development plans, etc. If you create a business model canvas please provide appendices that outline your assumptions
Criteria, Guidelines, and Scoring
Overall Scoring: Scoring for Phase 2 will be based on your business plan, your live pitch, and your team's overall performance throughout the Challenge. Be sure to include all aspects of the guidelines and criteria below to ensure a complete business plan and live pitch
Business Plan Guidelines and Scoring Criteria:
Live Pitch Guidelines and Scoring Criteria: Live Pitches will occur from August 22nd to August 26th, 2016. The Challenge judges will look at the following criteria to evaluate your live pitch:
Phase 2 Finalists and Winners
A maximum of two (2) finalists and one (1) winner from each invention will move on to Phase 3: Startup
Startup Action Items: Teams launch their start-ups, including company incorporation, apply for licenses, and executing other regulatory/developmental needs. Note that all startup legal entities will be formed by the Challenge sponsor. A generous option pool to the teams will be provided. The sponsor and venture fund will assist the new startups with creating their board of advisors
Prize Allocation: In the Business Plan phase, teams have an opportunity to win $2500. No set number of prizes has been decided. The $2500 will be distributed by the Center of Advancing Innovation to the winning team’s Team Leader. The prize will be in the form of one check paid to the order of the Team Leader. It is the responsibility of the Team Leader to distribute the $2500 prize to his/her teammates. The Center for Advancing Innovation hold no responsibility in allocating winnings to anyone but the winning teams' Team Leader. There will be an agreement within the Letter of Intent form outlining these details as well.
Seed Funding: Seed funding is not guaranteed to the winning teams of the Challenge. Funding will be awarded based on strict due diligence done by the supporting Gazelle Venture Capital Fund
Creativity: CAI encourages creativity in every sense of the word to help your team have a high probability of a successful outcome and differentiate yourself, while abiding by the “rules” of the Challenge
Branding: Remember to also be aware of branding. Many biomedical companies have names that seem obscure and do not relate to anything the end user can relate to. Challenge participants may differentiate yourself if you choose a name that end users can actually relate to. Also, be sure to include imagery and tag lines and potentially even a jingle and mascot
Stakeholder Engagement: Remember to include Key Opinion Leaders (KOLs), patient advocate groups, doctors (contemporary and more traditional), venture funds/private equity/angel investors, other inventors, etc.
Due Diligence: Please perform your own due diligence on the inventions in the challenge
Licensing Process and Forms: Please familiarize yourself with the licensing process from NASA
The Center for Advancing Innovation