The Proteus Innovation Competition is a four-month challenge in which individuals will compete to create an effective strategy for commercializing one of three promising technologies. The winners will receive a cash prize of up to $7,500.
The competition allows contestants to sharpen their business skills and work with skilled and experienced mentors to accelerate the go-to-market process for inventions being produced by London’s top institutions. In addition to the prize money, winners will have the opportunity to license the corresponding technologies and form their own startup company.
How Does the Proteus Innovation Competition Work?
There are three stages to the competition:
- Abstract – The abstract allows Competition organizers to determine who is on the team, who the target market is, and if the team understands the technology.
- Business Plan – The business plan allows the Competition organizers to assess the potential effectiveness of the submitted commercialization plans.
- Pitch – In this final stage of the Competition, competitors will deliver a pitch in front of a live audience and a panel of expert judges.
Participants choose from one of three exciting new technologies:
- Cloud-Based Data Collection App – Current data collection and archiving methods are time-consuming and error-prone, in large part because the wide variety of sampling devices used lack the ability to communicate with each other. Researchers have developed software designed to to accurately and efficiently collect data and share it through the cloud.
- Hand-Held Breast Scanner – Researchers have developed a low-cost, safe and highly portable medical scanner for detecting breast cancer that uses an ultra-low energy electric field to scan tissue – meaning there is little risk to the patient and no limit to the frequency of scans.
- Mirror Box for Lower-Extremity Therapy – Mirror boxes are used by therapists to aid in the recovery from conditions that affect the limbs, such as stroke or amputation. They trick the brain into a re-wiring of the motor cortex. Researchers have developed a mirror box with built-in slider boards that allow the patient to perform complex bilateral multi-joint movements (that mimic standing and walking) for a long period of time without tiring and can produce better outcomes.
One to Watch
The Proteus Innovation Competition will conclude in March 2017. At Skild, we love challenges that advance technology. We’ll be watching with great interest as this one plays out.