0 Biomedical Engineering Society Annual Meeting - Nashville, TN Presentation to the Biomedical Engineering Society October 2, 2003 Biomedical Engineering Innovation, Design & Entrepreneurship Contest Phil Weilerstein, NCIIA Jay Goldberg, Marquette University

1 Vision A national biomedical product design competition: competitive opportunity to learn about the design, development and commercialization process brings the academic and industrial biomedical engineering communities together to learn, and create commercially valuable innovations.

2 Goals To encourage and recognize the development of innovative, commercializable medical devices and technologies by entrepreneurial student teams (E- Teams) from BME programs and other disciplines. Create awareness and interest in entrepreneurship among students and faculty Expand engagement of industrial partners in the educational process

3 E-Teams E-teams are multidisciplinary teams of students, faculty, and industry advisors who work together to develop a product or technology with potential for commercial success. E-Teams bring learning beyond the classroom and into the real-life experience of commercial development.

4 Objectives –a self-sustaining, high quality competition –opportunities for hands on experience in product design, development, and entrepreneurship –a forum for emerging resources and best practices

5 Who is involved? –Graduate and undergraduate students: In teams originating from senior capstone design courses In independent teams –Academic departments or schools –Professional clubs or societies

6 Requirements –Engineering, science and business students (at least one BME student per team) –Faculty advisor/sponsor –Industry mentors –Funding –Access to laboratories, shops, etc.

7 Schedule October ‘04: Initial entry/statement of intent – Short descriptive entry – Multiple teams at local level –Semifinalists selected in early spring –1 per school June ‘05 - Final entry due –Winners announced at BMES

8 Application Full application includes –Objectives –Design documentation –Prototype of design –Proof of solution –IP summary (min. of prior art & patentability) –Regulatory pathway and strategy –Market analysis –Condensed business plan with strategy for commercialization

9 Evaluation Criteria Meets needs of a clearly identified customer Solves a clinical problem Innovative solution that meets technical, market, regulatory & legal requirements Novelty and utility of design Potential to reach underserved populations Commercialization potential Ability to execute plan

10 Judging Panels of judges including representatives from industry, academia & clinical settings will evaluate finalist proposals potentially in concert with an industry product design contest.

11 Progress Draft proposal reviewed by planning group Council of Chairs endorsement Identified 30+ institutions for pilot launch Developed larger planning group Industry group endorsement pending

12 Get Involved Phil Weilerstein, Executive Director NCIIA 100 Venture Way Hadley, MA Tel. (413) Fax. (413) Jay Goldberg Director, Healthcare Technologies Mgt Program; Assistant Professor of BME Biomedical Engineering Marquette University Milwaukee, Wisconsin