First who, then what.
We are looking for superb teams of entrepreneurs who have already created companies. Teams that are comprised of two, three or even four founders with a diverse skill set tend to be more successful than single entrepreneurs. Teams with complementary skills and personalities, and especially people who have worked together and accomplished a lot together, usually score better when competing.
We will be looking for “rock bands” who can share their vision and imagination, demonstrate their passion and show they know how to make money.
Ideally you want to have a technical wiz, a smart business person, a marketer/sales person, and a researcher or clinician who understands the health industry.
One team member needs to be the designated contact person and be authorized to make decisions on behalf of the team.
We have a real problem. You have a real innovative solution.
The solution we are looking for must be a novel product or service that addresses a specific market problem as defined by our industry or research partners. It should be quickly scalable to give your company a competitive advantage.
We are looking for teams who understand that a solution is not just the technology, itself, but also a combination of clinical evidence or market facts, convergent technologies, beautiful design, elements of social media, and a sound business model.
Ideally, you have already gotten out of the office, tested your solution, finished your customer discovery and customer validation (problem-solution fit) and you are ready to commercialize it in 12-24 months.
No market, no sales. No sales, no business.
The number one reason why startups fail is because they build products nobody needs or wants.
Teams must have an existing product that solves a HUGE real problem, proposes an INNOVATIVE solution and uses a BREAKTHROUGH technology.
The global health, wellness and healthcare market represents more than $10 TRILLION in revenues annually. We are looking for innovators who can compete in markets that will ultimately generate $1 BILLION or more in sales every year.
We want to hear from teams who can focus on underserved markets, capture new markets that never existed before, or disrupt old, stodgy markets with disruptive technologies.
If you qualify for the TOP 10 you’ll have a chance to partner with large commercialization partners or venture capital firms whose deep understanding of digital health will accelerate your go-to-market journey.
Health is universal. Show you can help people live longer, healthier lives and be happier.
We’re looking for innovative digital health products and services in a number of market-driven categories. You need to show that your solution can reduce the cost of healthcare, improve the experience, and generate better outcomes locally, regionally and globally.
You should be able to show how a smart solution from a developed country can serve the needs of poor and underserved populations and communities in underdeveloped parts of our planet, or vice-versa.
$10 million in annual revenue is the max.
We are looking for companies with less than $10 million in annual revenues who are seeking venture capital, industry and research partners, or strategic investors (that means companies that will invest in your company and help you with access to large customer bases, product integration, distribution and growth).
The Intellectual Property (IP) belongs 100% to your company. Also, your idea, product or solution should not be in violation of any other intellectual property rights; including but not limited to pa-tent infringement.
Our prizes are offered as a combination of cash, in-kind services and promotional media and are subject to all applicable laws, rules and regulations. If you are selected for any of the stages of our competition you are responsible for paying your own travel, hotel, and other costs to participate in the competition. You are responsible to pay your own taxes and any other fees associated with receipt of the prizes.
If you are selected to participate in our competition you agree to indemnify and hold harmless Interface Health Society and its officers, directors, members, managers, employees and agents, from and against any claims, suits, proceedings, legal disputes, demands, liabilities, damages, losses, costs and expenses, including, without limitation, reasonable legal and accounting fees (including costs of defense of claims, suits or proceedings brought by third parties), in any way related to your participation in the competition and attendance of the competition events, as well as for the failure of the information you provide to us both directly through our website and nay additional information you provide us at our request, to be true and complete in all material aspects.
TOP 10 FINALISTS OBLIGATIONS
If you are selected as a TOP 10 finalist you agree to participate during the entire time of the annual summit (two-days) including performing at the grand finale and awards show of the INTERFACE Health Challenge X 2017.
You agree to participate in all activities required by the producers including speaking engagements, industry panels, investors pitches, photo and video production, social media, exhibition and VIP events. Not participating in the events and activities that are part of the INTERFACE Health Summit 2017 may result in disqualification and loss of the cash and in-kind prizes.
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To the maximum extent permitted by the law, Interface Health Society shall not be liable for any direct or indirect damage, loss of property, loss of data, use, good will or other intangible losses, resulting from a) your access to or use of or inability to access or use the website; b) any conduct of any third party; c) unauthorized access, use or alteration of your transmitted data or content; or d) your participation in the competition or attendance of any of the competition events.
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