Our Challenge ’21 Orientation Day
Teams accepted into Round 1 begin their Bionics Challenge 2021 journey with our Orientation Event.
This is a ‘must attend’ event (delivered in 3 x 2 hour Zoom slots) that gives participants a full overview of the events/activities to come, a chance to hear the ‘elevator pitch’ of all Challenge teams, engage with expert advisors and get valuable feedback to refine your team’s ‘winning formula’ from Day 1.
You will interact with Bionics Queensland advisors and non-competing teams in break-out sessions using core tools, templates and tips to tighten your project approach and boost the energy and clarity of all team members involved. Importantly, ‘O Day’ gives you the planning tools you need to benefit from your teams’ Pitch Training Consultation with Bionics Queensland prior to the Round 1 Pitch to select Challenge Finalists. A Q&A on all aspects of the Challenge will be published online and updated regularly during our Bionics Challenge ’21 event season.
Our Round 1 Pitch Event
The Round 1 Pitch event is the first competitive event to identify the teams who will become our Bionics Challenge ’21 finalists.
Judging panels that include Bionics Queensland representatives, clinicians, practitioners, academics and end users will evaluate the pitches of all entrants (using our published judging criteria).
A small suite of finalists will be selected to compete for the $25,000 National Bionics Innovation Prize (sponsored by Morgans Financial) and our Bionics Challenge ’21 Major Category Prizes (4 x $50,000) and Early-Stage Bionic Innovation Awards (4 x $8,000) funded by the Motor Accident Insurance Commission of Queensland.
In advance of the Round 1 Pitch (by close of business on 20th July), all teams must upload their Round 1 Pitch Deck and Project Summary. Great insights on how to prepare a winning Pitch Deck will be shared with teams from the start of ‘O’ Day right through to the Grand Challenge judging event.
Your Round 1 Project Plan
Working through the ‘nuts and bolts’ of your Challenge Project Plan with your team and conferring with Bionics Queensland on your approach is the key to success in Round 1. In advance of your pitch, take the time to work through all key prongs of your Project Plan.
Think through the unique selling point of your innovation, your umbrella goals and objectives, your target market (s), key activities yet to come for your team (research, design and development plans) and the likely regulatory approval and reimbursement options for your bionic innovation. Importantly, you should also ensure you have some insights to your project’s likely Freedom to Operate in the market and intellectual property (IP) protection you already have or may need.
Whether you are a start-up, a university team or individual innovator right now, it is important that your team is able to convey to the judges some of the key steps that lie ahead. Your judges will value your team’s honest appraisal of what you do and don’t know in Round 1 and the actions you are proposing to build on your strengths and ‘plug the gaps’ in your knowledge and expertise. Be sure to think through early on how you will engage with patients or bionic end user(s) and the clinicians or practitioners who will use or recommend your device, implant or treatment.
More details on how to prepare the Round 1 Pitch Deck and Project Summary will be released soon!
Bionics Bootcamp ’21 for Challenge Finalists
For our Grand Challenge Finalists (announced after the Round 1 Pitch), the next stage of the journey begins at Bionics Bootcamp ‘21. This event is designed to ‘interrogate and uplift’ the teams’ Grand Challenge Project Plan and pitch skills.
At Bionics Bootcamp ’21, our Challenge contenders will take a deep dive into an array of ‘must have’ knowledge to succeed in the bionics deeptech world – learning more about all-important topics that ‘make or break’ medtech projects. Team members will stretch themselves to further define and forecast markets for their innovation, their IP protection strategy, funds attraction and commercialisation pathways.
Bootcamp ’21 is a virtual event….but mirroring our highly successful 2020 program, you’ll hear from fantastic guest speakers and panellists with loads of learning and energetic discussion to give your team a ‘winning streak’. You’ll hear from stand-out medtech advisors whose expertise is sought by researchers, innovators and businesses in Australia and elsewhere.
The headline topic at Bootcamp ’21 will definitely be the Grand Challenge judging criteria! It’s a ‘listen up and listen hard’ moment for teams to get a clear sense of judges’ expectations…what it takes to ‘bring the cash home’. Your ability to get your video pitch, core messages and ‘sell’ into great shape after Bootcamp ’21 will be a true measure of its success. To this end, we offer lots of mentoring, ‘pep’ talks and tools to boost your winning chances on Grand Challenge Day! Team members revisit the art of a successful pitch, interact with seasoned ‘pitchers’, and catch up with an array of innovators. With the days counting down, we interrogate the plans, business cases and budgets of teams.
This year, the competition will be ‘hot’ to win the $25,000 National Bionics Prize sponsored by Morgans Financial plus the $50,000 Grand Challenge Category Prizes and $8,000 Early-Stage Bionics Innovation Awards funded by the Motor Accident Insurance Commission of Queensland.
After Bionics Bootcamp ‘21, all teams knuckle down to finalise their Video Pitch, Slide Deck and Final Project Plan for the judging panel. The very talented Big Voice Media group (sponsoring us for the second year running) will be on hand with their high-quality video production service for all of our Challenge finalists.
A tight, but realistic production schedule sets out the timeslots for a video ‘shoot’ with each team. Big Voice Media capture the team’s ‘pitch to camera’, footage of the innovation itself, select Pitch Deck slides and background footage.
Note: Each team’s video, Project Plan and Pitch Deck (slide set) is provided to judges one week out from the Grand Challenge event.
The Grand Challenge
The great work of all teams in Bionics Challenge 2021 will see a fantastic array of presentations delivered at the Grand Challenge judging event.
In your Final Project Plan, Video Pitch and supporting Q&A with the judging panel, winning teams should showcase:
The unique and far-reaching features, benefits and expected impacts of their bionic innovation for patients or bionics end users and related impacts on clinicians, allied health practitioners and rehabilitation services.
A highly professional project plan with vision and objectives, the USP of your device, implant or treatment, target markets, potential design, development and manufacturing pathways, IP protection, reimbursement options, milestone plan and budget required.
A well-defined and well-justified budget that demonstrates how Challenge funds will be spent to accomplish targets and milestones will give judges a further ‘pointer’ in selecting the winning team. Typically, winners will also identify additional partners (industry contacts or investors) who will help them to accelerate their innovation to transform lives.
Project leaders and team members are encouraged to tell their story in a meaningful way, outlining the human impacts of their innovation and their passion to make a difference. It is important to outline the ‘here and now’ (the current state of play that can be changed or improved) plus the medium and long-term impacts that the world can expect to see if your innovation succeeds.
More details of the final online judging event, our judging panels, official announcement of Challenge ’21 winners and our You Tube feed will be released in the weeks leading up to the Grand Challenge event on August 28th.
After the event, winning teams participate in a week-long publicity campaign to showcase their innovations.
Bionics Deeptech Mentoring and Commercialisation Training
In addition to $257,000 in cash prizes for winners, Bionics Challenge ’21 is set to deliver a ‘stand out’ mentoring and commercialisation training program (adding a further $50,000+ of in-kind value to winning teams).
A stellar line-up of coaches and expert advisors will engage with our National Bionics Innovation Prize Winner, our four Bionics Challenge ’21 Major Category Winners and recipients of four Early-Stage Bionics Innovation Awards.
Coaches and Expert Advisors:
Dr Robyn Stokes: CEO, Bionics Queensland,
Program Director & Coach
(Bionic Innovation Insights, Business Strategy, Partner Attraction, Research & Engagement)
Dr Laura Faulconer: Portfolio Director, Antler, Sydney
Lead Coach– Bionics Challenge ‘21
(Medtech Deeptech Founder, Investor, Strategist and Acceleration Advisor)
Bernie Woodcroft: Founder and Director, Project Insight Australia
Expert Advisor – University Deeptech Innovation, Start-Ups and Scale-Ups
John Polinelli: Associate, Morgans Financial, Brisbane
(Sponsor: $25,000 National Bionics Innovation Prize plus $25,000 In-Kind Advice)Coach and Expert Advisor – Financial Planning and Capital Attraction
Dr Nigel Greenwood: Managing Director, Neuromathix
Expert Advisor: Artificial Intelligence
Neil Davidson: Design Innovation Director, Clandestine Design
(Sponsor – In-Kind Advice, Human-Centred Design Insights for Bionic Innovations)
James Scott: Medtech Business and Marketing Specialist, Brisbane
Expert Advisor – Medtech Market / Sales Analysis and Industry Engagement
Mark Jones: Managing Director, Your Digital Solutions
Expert Advisor: Digital business models / marketing strategy
Our Bionics Deeptech Acceleration Options:
Our 2021 winners (8-10 teams in total) will choose and complete one of two Bionics Deeptech Acceleration Programs offered by Bionics Queensland.
Bionics Deeptech Program A (Standard):
Program A is our 8-Week Mentoring and Commercialisation Training Package completed by Challenge Winners in advance of their 6–18-month contract for funds allocation (aligned to their cash prize, agreed milestones and quarterly deep-dives with Bionics Qld mentors).
Key inclusions in Program A are:
- Core Topic Webinars (2 Hour Sessions) with Lead Coach and Program Director: Proof of Concept, Design and Development Plans; Market Validation; Competitive Analysis, FTO & IP Strategy; Business Models, Management Teams and Liquidity.
- Customised Mentoring Sessions with Individual Teams aligned to Webinars
- Expert Advice on Financial Planning and Capital Raising: Morgans Financial
- Expert Advice on Digital Business / Marketing and Brand Development
- Winners Roundtable: Freedom to Operate (FTO) and IP Protection
- Winners Roundtable: Bionics Deeptech Design, Product Development & Manufacturing
- Winners Roundtable: Reimbursement Options for Medical Bionic Innovations
- Connection to medtech investor networks and platforms
- Quarterly Deep Dive Mentoring Sessions in 2022
Bionics Deeptech Program B (Advanced):
Program B is an alternative 5-Week Mentoring and Commercialisation Training Package customised to the needs of Challenge winners who have (a) previously participated in bionics or medtech acceleration and/or (b) have more advanced insights to the medtech commercialisation journey. Teams participating in Program B must complete it in advance of signing their Deed of Grant for funds allocation (dispersed over a 12–18-month program of milestone delivery).
Key inclusions in Program B are:
- Agreed program of a minimum of five (5) Commercialisation Training Events drawn from our Core Topic Webinars and Winners Roundtables
- Customised Mentoring Sessions with a Lead Coach and Program Director (a required inclusion in the Program)
- Expert Advice from Morgans on Financial Planning and Capital Raising to accelerate the project to market (a required inclusion in the Program)
- Connection to medtech investor networks and platforms
Quarterly Deep Dive Mentoring Sessions in 2022 (a required inclusion as per the Deed of Contract singed with winning teams)