BETHESDA, MARYLAND (PRWEB) JULY 26, 2016
Ten winners of the Nanotechnology Startup Challenge in Cancer (NSC2) were announced today by the Center for Advancing Innovation (CAI). The challenge featured eight inventions, conceived and developed by scientists from three participating institutes of the National Institutes of Health (NIH) — the National Cancer Institute (NCI), the National Institute of Biomedical Imaging and Bioengineering (NIBIB), and the National Heart, Lung, and Blood Institute (NHLBI) — as well as extramural, “third-party” inventions, which were discovered and advanced outside of the NIH. The winning entrepreneurs were selected based on 10-page business plans, financial models, and 20-minute “live pitches” to a panel of expert judges.
Winning teams will move forward to the third and final phase of the challenge – the Startup Phase. In this phase, the winning teams will form their startups to advance cancer nanotechnology inventions. Teams that received the Innovation Excellence Award will receive a $2000 cash award. All teams that were accepted into the challenge were placed in an accelerator program with a rigorous advancement process, which was independent from the inventions they chose, and only those teams who met the criteria advanced to Phase 2.