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Health Tech Innovation Challenge Kick Off

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Students are invited to participate in a month long challenge solving digital healthcare problems with a focus on data and analytics.

About this Event

Additional information can be found here: https://hyperinnovation.com/hyper-innovation-digital-challenge/

Health Tech Innovation Challenge

May 17 - June 24

Who should attend: Innovators, startups, and innovative students interested in developing technology solutions to address healthcare innovation.

Here's why you should attend and learn more about:

  • Opportunities to connect to industry mentors
  • Compete for cash prizes or opportunities to pilot with industry partners

Hyper Innovation Health Tech Innovation Challenge

Key Dates:

May 17, 2021 Online Kickoff Session

June 24, 2021 Challenge Submissions Due

Calling all innovators to identify problems to solve and potential innovative solutions with a focus on data and analytics. Potential for mentorship, industry connections, and cash prizes.

Objectives

The primary objective is to develop presentations that demonstrate problem-solution fit to address key challenges in healthcare to improve patient care and improve cost of care.

Focus Areas

  1. Personalized and integrated experience to consumers
  2. Enhance provider productivity
  3. Engage formal and informal caregivers
  4. Improve outcomes and affordability

The Challenge is focused on industry problem identification and articulation. Participants will provide background research, ideation, and discussion of potential solutions but are not expected to develop proofs of concepts for this stage of the Challenge.

Participants will gain:

  • Feedback from expert resources and provided advisors and mentors in strategy, healthcare IT, and data science
  • Free access to the Hyper Innovation Digital Health Simulator™ to learn about data and workflow
  • Potential to be selected to advance to a next phase of the Challenge or to work with a corporate partner or prospective customer to pilot or co-develop the solution
  • Potential to win cash prizes for categories specified in the Challenge

Goals

  • Identified a solution that addresses at least one of the Challenge Focus Areas
  • Identified the gap area the solution addresses and the solution’s key differentiator
  • The value proposition of the solution is identified and explained
  • The desirability, feasibility, and viability of the proposed solution is identified and explained
  • There is a data analysis included that demonstrates the outcomes of impacts of the proposed solution
  • Supporting evidence (mockup, demo, use case(s) or other additional presentation resources) is included in the analysis of the proposed solution

Identifying the Gap Area, Competitive Landscape, Key Differentiator, and Value Proposition

  • What gap in the healthcare industry does the proposed solution aim to address?
  • Who are the key stakeholders or target market?
  • Are there other competitors in that space?
  • Their Offering
  • Their Differentiation
  • Their Target Market
  • What is the proposed solution’s key differentiation and value proposition?
  • How does this solution stand out compared to competitors, and what does it offer that is unique for the end user?

Desirability, Feasibility, Viability

Desirability: A solution the end user really needs.

  • Define your end-user
  • Does the proposed solution solve for the right pain point?
  • Does it address the task/gap/taste/style the end user desires?

Feasibility: A solution that builds on the core strengths of the healthcare industry, or an identified partner’s operational capabilities.

  • Address the question: How can this solution be built to make the industry healthier and stronger?

Viability: A solution that contributes to long-term growth and sustainability.

  • Does the business model fit the way customers or end users want to use or pay for the solution?
  • Is the solution profitable?
  • How does it contribute to the community and the healthcare industry

Supporting Evidence

  • What is the impact of the proposed solution? Does it accomplish its goal?
  • Was a data analysis conducted to tease out the potential of the proposed solution?
  • What supporting evidence can be presented to support the claim of the proposed solution?

Submissions

Participants will be asked to deliver results that address the defined goals of the Challenge. Participants will create a 5-minute video presentation for judging by midnight on June 17, 2021. Judging and cash prizes will be awarded and announced at a virtual industry event on June 24.

5 Minute Presentation

The presentation will include:

  • Contact information
  • Challenge focus area addressed
  • Problem identification and gap areas
  • Competitive landscape
  • Key differentiator and value proposition
  • Desirability, Feasibility, and Viability analysis
  • Supporting evidence
  • Recommendations for next steps (MVP, pilot, co-develop)

Prize Categories

A judging panel will use Challenge criteria to assess best solutions and award prizes. Categories for the Challenge include:

Focus on Early-Stage: Best Articulation of Problem to Solve and Solution Identification

Best ideation and presentation of problem-solution fit.

Focus on New Product: Best Articulation of Problem and Solution

Best ideation and presentation of problem-solution fit with work plan or demonstration of solution.

Focus on Student Innovation

Best student-driven idea and presentation

About Hyper Innovation

Hyper Innovation is a Madison-based innovation agency that bridges the gap between complex, real-world problems to solve, and innovative, executable solutions to drive growth and value.

The Hyper Innovation Digital Health Simulator™ is a turnkey resource for pressure testing new digital health solutions. The Simulator includes machine learning, simulated EHR environments, and robust de-identified data sets and can be used as a sandbox for developing and testing solutions.

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