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Combine a business model with a new health technology
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65 months ago
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New health technologies are popping up more and more frequently. Inventors are creating powerful devices and products that improve the life of those who suffer from diseases and ailments and those of us that just want to make sure we’re as healthy as can be. The devices fit niche needs, so making them popular and profitable can be a difficult task.

Example 1: Liftware, specialized utensils that help those with hand tremors or limited mobility feed themselves with ease. Perhaps people with these impairments are more likely to know others with the same disabilities. Wouldn’t a program in which a user receives a refund on their purchase if they refer 3 friends to purchase Liftware be beneficial to all parties involved?

Example 2: Fitbit, a device that counts steps and tracks exercise. Fitbit offers a social network/app for owners of the bands to compete with friends to be the most active. This encourages healthy living and sells more Fitbits.

Your task is to pick an innovative new health technology and combine it with a new business model that will get it into the hands of more people that can use it!


Answer each item separately in your submission:

1. Briefly describe or just include a link to a webpage about your selected healthcare technology.

2. Give a detailed overview of your proposed business model that will sell more units or make more popular your technology.

3. Why is this combination more effective than existing processes?

4. What key challenges and considerations will need to be addressed for this model to succeed?

Bonus 1: Complete steps 1-4 multiple times for multiple technologies.

Bonus 2: Present your submission as a presentation (Powerpoint, Slideshare, Prezi, or similar) or with a video (include Dropbox or YouTube link in submission box).

Things to consider:

- What technology do I choose? Check out Health Technology list 1, Health Technology list 2, and Health Technology list 3.

- More Health Tech examples: Health technologies that help patients remember to take medication, food scanners like the Nima Sensor that check for gluten, or even digital therapy and mental health apps are all good technologies to consider.

- More innovative business model examples: Airbnb allows home owners to rent unused rooms, benefitting travelers and the owner alike. Another example could be Tesla, who built supercharger stations for their electric vehicles. The charger stations make their cars more viable and Tesla can make more money by charging for charging.

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
Reward Tiers
Top 10%
will share $1,000
Next 15%
will share $400
Next 25%
will share $200
Actual individual rewards will be based on the total number of eligible solutions.
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