A “Shark Tank” star, a pharmaceutical company and a health-tech incubator are teaming up to find the best new solutions in cancer care.
The Astellas Oncology C3 Prize, run by Northbrook-based Astellas Pharma U.S., aims to find the best ideas from around the world that will support the goal of “changing cancer care.” It will award a $50,000 grant to the winner, and $25,000 grants to two runners-up. Winners will also receive a year of membership at Chicago-based health-tech incubator Matter. Astellas is a platinum sponsor of Matter.
More Top Picks Best Laptop Sleeves For 15 Inch Laptops
“We’re not looking for medicines, we’re not looking for new medical devices; we’re really looking at innovation that addresses some of the other breakdowns in cancer care,” said Tyler Marciniak, director of the C3 Prize program and director of corporate affairs as Astellas.
He said a smartphone app that helps patients remember to take their medicine or a digital platform to connect families are the types of ideas he expects to see.
Submissions are open until 11:59:59 p.m. on Aug. 8, and must relate to four cancer care obstacles: “adherence to medicines, care coordination, navigation (of the health care system) and survivorship,” Marciniak said. He said anyone with an idea is eligible to apply — whether they have a company or not.
He said the competition has attracted submissions from more than 6 countries, but declined to say how many had applied.
“Shark Tank” investor Robert Herjavec is one of the competition’s four judges, who will review pitches from five finalists on Sept. 17 at the Stanford Medicine X conference at Stanford University.
Steven Collens ?, CEO of Matter, said winners will get free membership to the incubator for a year. Those who aren’t based in Chicago will have remote access to mentorship and programming. Collens said the incubator already works with about eight non-Chicago companies across the U.S. in this way, and hopes to formalize a remote membership program in the future.
He said competitions such as this one, which is focused on early-stage entrepreneurs, can provide a big boost.
“You’re looking for investors, you’re looking for customers, you’re looking for talent, you’re looking for visibility, so if you can be a finalist or win one of these competitions … it can help accelerate your development,” Collens said. “It can be a stamp of approval.”
Twitter @aminamania