The Freedom from Cancer Startup Challenge has officially launched. Teams of entrepreneurs will compete to form startup companies around 117 breakthrough inventions from 55 institutions, including the National Institutes of Health (National Cancer Institute, National Heart, Lung, and Blood Institute, and National Institute of Biomedical Imaging and Bioengineering), the United States Army, and more than fifty American universities and hospitals.
To identify these breakthrough inventions, CAI reviewed over 120,000 cancer-related patent applications, filed since 2005, and selected the top 1% from a total of 134 research institutions for deep dive due diligence. CAI then shortlisted the most promising 200 cancer-related inventions from a list of 400 technologies, made available for exclusive licensing by 63 research institutions that CAI engaged. From this short list, CAI and a 15-member FCSC invention selections committee cherry-picked 100+ commercially viable inventions to feature in the competition. Members of the selection committee included senior executives from MedImmune, Pfizer, and Novartis, as well as super angels, serial entrepreneurs, venture capitalists, and foundations.
The Laura and John Arnold Foundation has committed $1.2 million in funding towards the FCSC. The challenge was also launched with support from MedImmune, the global biologics research and development arm of AstraZeneca.
Teams will have to create detailed business plans and present elevator speeches before a panel of judges. They will participate in an accelerator program and have access to mentors, advisors and ambassadors.
The deadline to enter the Freedom from Cancer Startup Challenge is December 29, 2017. The first phase of the challenge is the Elevator Speech phase, which starts on October 18, 2017. Entries will be accepted on a rolling basis. Enroll now before your favorite invention is taken!