The news just keeps getting better for the five finalists selected in the Inmar Digital Health Challenge. The law firm of Kilpatrick Townsend gave the competition its latest boost just this week. In addition to the $25,000 cash prize and potential funding of its idea, the winning team will now have $17,500 to spend with Kilpatrick Townsend’s world-class corporate attorneys.
The finalists in the competition were selected from competing U.S. and internationally based teams. The services of Kilpatrick Townsend will be important, as the costs associated with properly structuring a startup can be significant. The legal services fund from Kilpatrick Townsend will help. “Start ups need help with entity and structure considerations, equity and capital raising documents, and other commercial contracts,” said G. William Joyner III, Partner, Kilpatrick Townsend. “Our legal team is pleased we can participate in the Inmar Digital Health Challenge to structure the winning idea the right way for future success.”
After reviewing all of the worthy applications, the judges chose five finalists from Baltimore, MD; Waterloo, CA; Chicago, IL; Greensboro, NC; and Cambridge, UK who will spend the next six weeks refining their idea and developing their pitch to ultimately win $25,000 in cash, $17,500 in legal services and potential future funding.
The winner of the Inmar Digital Health Challenge will be the solution that most effectively leverages currently available technologies—including wireless devices, hardware sensors, mobile and body area networks, health information technology, social media and others— that can be combined in new ways to make medicine more personalized, precise, and accessible while reducing cost and inefficiency. Specifically, the best solution will address the following question: How can disparate data sources be leveraged to discover health-related correlations and insights that enable individuals and their support groups/families to collaborate, monitor and improve a patient’s health?
Flywheel will provide workspace for selected challenge teams during the finalists’ briefing and final pitch weekend, and organize resources and mentors to help each team develop their concepts and commercialization plans.
Kilpatrick Townsend joins Inmar, which operates intelligent commerce networks in healthcare, supply chain and promotions, as a sponsor of the Challenge. Experts from both entities, along with other subject matter experts, will serve among other mentors and judges.
To learn more about the challenge and competition details visit http://flywheelcoworking.com/flywheel-digital-health-challenge/