QUESTIONS ABOUT THE PROCESS
How will my submission be rated?
After an initial screening to assess whether an application meets minimum requirements, a team comprised of individuals (from Collaborative Member organizations as well as others) with experience in one or more areas, including clinical, hospital administration, IT, investment, HR and others, will review submissions. Based on the nature of the application, we will attempt to have reviewers with the most relevant experience reading your submission and provide a review to the Collaborative. Each reviewer will rank submissions on several criteria including technical merit, market need, your ability to provide necessary resources and expertise and other factors.
Who decides if my submission is accepted by the Collaborative?
Each member of the Collaborative will independently decide if your submission is a project they would like to work on. In the event more than one Collaborative member chooses to work on a project, they will coordinate with you to determine how best to find mutually agreeable terms under which the Collaborative company would support the project.
If I work with the Collaborative on a project will I also receive an investment?
Not necessarily. Ben Franklin Technology Partners and Rittenhouse Ventures have each pledged to evaluate investment in companies which one or more Collaborative members conduct a project. Each of these funding organizations, however, will conduct their own independent review. These funding organizations will make investment decisions based upon their own criteria. There is no specific timeframe for investment decisions as each project may vary in length.
If my submission is not accepted by the Collaborative does this mean there is no interest in my project?
Not necessarily. Each member of the Collaborative will choose projects that best fit their needs and interests as well as their budget and capacity to take on a project at this time.
If my submission is not accepted by the Collaborative can I reapply?
There is presently no process for resubmitting a proposal. Members of the Collaborative will, however, maintain all applications and may determine at some time in the future to contact you if they have interest in discussing your project.
Will there be additional Calls for Innovation in the Future? When will they be announced?
The Collaborative is presently a pilot among the nine founding members. The pilot is scheduled to run thru December 2016. It is anticipated that the members of the Collaborative will discuss the results of the current Call for Innovation and determine whether to announce additional calls in late 2016.
Do I have to be from the Greater Philadelphia area to have my project be selected?
No. We want to know where you are located because it is important to fulfilling the mission of the Collaborative – Making Greater Philadelphia a Global Hub for Health Care Innovation. If you’re from the area, that’s great. If you are not, we want you to learn more about the Greater Philadelphia region. If you want to become part of the Greater Philadelphia innovation ecosystem, we want to make sure we connect you to the right partner organizations and resources to help you.
QUESTIONS ABOUT THE SUBMISSION
Why am I being asked questions about the size and revenues of my company?
This information is helpful to Collaborative members and reviewers in assessing your company’s ability to support the proposed project with necessary resources to be successful. Submission of this information is optional.
Why do you want to know if my company has or wants to raise investment capital?
Access to capital is a critical part of every company’s growth. If you are a growing business with a novel innovation, the Collaborative wants to understand your needs. Submission of this information is optional.
Can I upload documents with additional information about my company and my proposal?
No. This submission form is intended to provide a brief summary of your company and your proposal. If additional information is required for the review process, you will be notified.
My proposal doesn’t treat a chronic disease but I think it would still be helpful. Should I submit a proposal?
Yes. The Collaborative members are interested in a wide range of strategies to tackle chronic disease. We recognize this may come in a variety of forms. If your innovation will impact the lives of people with a chronic disease, their families, the health care system in providing care and support or will help prevent or limit chronic disease, we want to know about it.