The Pistoia Alliance Mini Startup Challenge 2016

The Pistoia Alliance is expanding its horizons and actively searching for new fields and hot topics to focus future projects on. Where better to seek inspiration than the startup community?

This contest is part of the Pistoia Alliance Startup Challenge series.

@pistoiaalliance / #pistoia2016

The Pistoia Alliance Mini Startup Challenge 2016 challenges small businesses to create new products and services to help lower the barrier to innovation in life sciences research and development. The Challenge is designed to support design-driven production, promote a culture of innovation and commercialization, and foster the development of new ideas.

Access to Professionals

The winner gains access to mentorship from industry professionals who understand industry needs

Exposure to Global Industry

All finalists gain exposure to the Pistoia Alliance's global membership network, a unique mixture of pharma and tech companies

Validation of Ideas

All finalists will receive constructive feedback from our panel of experienced judges

The Challenge

The Pistoia Alliance are looking for innovative start-up companies in the life sciences or healthcare field covering the following categories:

  • Mobile Health and Data
  • Wearable and Internet of Things

We are looking for startups in these areas that:

  • Will assist or advance life science Research and Development processes and capabilities
  • Will provide solutions to enhance and improve clinical research
  • Will deliver solutions to automate or augment laboratory research efforts and processes
  • Will enable scientific discovery

It should be noted that solutions that target current global healthcare events and challenges would be of particular interest. Any patient or clinical related focus should be able to validate their claims scientifically or show the intention to.

Finalist
up to 5 awards
1,000 Euro

Invited to attend award ceremony at the Pistoia Alliance European Conference. An opportunity to pitch their proposition and network.

Each receive €1000 and use of finalists logo on publicity material.

Recent Updates

How to Enter

Entries had to be submited via iStart before 23:59:59 GMT on Thursday March 16th 2016.

Eligibility

You are most likely eligible to enter the contest if you can answer YES to all the following questions (this checklist is for guidance only - please refer to the official rules for full entry criteria):

  • Is your corporation, LLC, partnership, non-profit, or other corporate entity already legally formed?
  • Do you employ fewer than 50 people?
  • Is your revenue or balance sheet capital under €10 million?
  • Is the product or service you are entering new and not yet commercially available?
  • If your product is based on an open source technology, has it made substantial additions or changes to it?
  • Are you and your country free from any trade restrictions or sanctions enforced by the United States?

Entry Procedure

All entrants must prepare a business proposal for entry into the contest and submit it via iStart. Successful entrants will be selected as finalists and invited to the Mini Startup Awards live judging session at the Pistoia Alliance European Conference evening reception. Full details are given below, including a list of what should be included in the business proposal.

Round 1: Business Proposal Requirements (deadline: 16th March 2016 at 23:59:59 GMT)

Entrants must include a brief text summary of their proposal that the Pistoia Alliance is permitted to reproduce publicly. Entrants must also explain how their proposal is relevant to the Pistoia Alliance's mission of lowering barriers to innovation in life sciences R&D. The proposal itself will remain confidential.

The proposal must be a PDF document of no more than 3 (three) pages at a readable font size. It must cover the following points:

  1. Plan Description: Outline the product or service and how it is planned to be delivered and the anticipated impact it will have on innovation in life science research and development.
  2. Commercialization: Explain how you plan to market and sell your product or service. Explain how your product or service is different from others in the marketplace and how you can demonstrate a demand for your product or service.

The product or service described in the business proposal must be new and must not be commercially available at the time of entry or during the Challenge. Full requirements are outlined in the official rules.

Round One Judging Criteria

Judges will rate the quality of all entries using the following five equally weighted criteria:

  1. Novelty of the Plan (including originality and creativity and whether the product or service is substantially different from current market offerings)
  2. Quality of the Plan (including the depth and quality of analysis and market research illustrated in the Plan and whether it includes an appropriate level of technical detail)
  3. Potential impact (including feasibility of production, material and production costs, and potential impact on the market if successful)
  4. Potential to benefit Pistoia Alliance members (including how the idea is relevant to the Pistoia Alliance's mission statement)
  5. Tie Breaker: The opportunity shows demonstrable potential to tackle a global healthcare issue.

Up to five entries that earn the highest overall score will be selected as finalists. Full details of the judging process are contained in the official rules.

Round 2: Pitch Requirements (for live pitching and judging on 19th April 2016)

The (up to) 5 finalists selected from Round One will be invited to attend the Pistoia Alliance European Conference on April 19 2016. They will be asked to deliver their elevator style pitches to a panel of judges and audience during the evening reception of the conference. The pitch must:

  • Clearly describe the proposed product or service’s design, functionality, and use scenarios
  • Highlight the way in which it addresses the judging criteria
  • Be no longer than 3 (three) minutes

Round Two Judging Criteria

Judges will make live decisions based on the quality of the finalists' pitches using the following criteria:

  1. Problem and market need. The pitch was compelling, easy to understand, and focused around a clearly articulated problem and market need and it’s relevance to the Pistoia Mini startup challenge.
  2. Potential to benefit Pistoia Alliance members (including how the idea is relevant to the Pistoia Alliance's mission statement)
  3. The team has developed a truly innovative and defensible solution to an existing or emerging problem.
  4. Potential impact (including feasibility of production, material and production costs, and potential impact on the market if successful)
  5. The offering scales across geography, customer segments, distribution channels, and the scope of the value proposition.
  6. Tie Breaker: The opportunity shows demonstrable potential to tackle a global healthcare issue.

The finalist that earns the highest overall score will be selected as the overall winner of the main prize.

The audience will also be asked to vote for the second place audience choice winner. Full details of the judging process are contained in the official rules.

Any Questions?

Please check the FAQs first. Any other enquiries or requests for further information should be directed via email to the contest administrator.