ABOUT THE INNOVATION CHALLENGE
The Innovation Challenge will take place in October 2020 and will be open to Patient Entrepreneurs—those who have been affected by substance use disorders as either a patient or support partner for a loved one. The goal of the innovation challenge is to seek novel digital solutions to unmet needs in supporting successful, long-term recovery from alcohol and opioid use disorders.
Patient Entrepreneurs with innovative companies in early stages of development will receive an invitation to pitch their digital solutions to an expert panel of judges comprised of healthcare industry, medical and patient leaders.
The winner will be awarded a $25,000 monetary grant. Additionally, competing finalists will be considered for possible partnerships/investments with/by Orexo.
The Lyfebulb–Orexo Innovation Challenge stems from the idea of the Lyfebulb Entrepreneur Circle, established in 2015, and features individuals who have created a product and a company based on issues encountered due to their personal experiences with a chronic illness (through their own diagnosis or that of a loved one).
Submissions should focus on new digital solutions that aid successful, long-term recovery from alcohol and opioid use disorders, improving outcomes and experiences for both those struggling with addiction and their support partners.
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 alcohol/opioid addiction?
- 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)?
APPLY FOR THE INNOVATION CHALLENGE
Applications for The Lyfebulb-Orexo Innovation Challenge: Digital Therapeutics for Substance Use Disorder open June 17, 2020
Finalists will be invited to present their innovative solutions using digital therapeutics addressing an unmet need in substance use disorder recovery. One entrepreneur will be awarded the 2020 Lyfebulb-Orexo Innovation Award, including a $25,000 monetary grant to grow their company.
Applicants must be a Patient Entrepreneur (someone who has been affected by substance use disorder either as a patient or support partner for a loved one).
Applications open through Friday, July 31, 2020 at 11:59 PM EDT.