PROGRAM OVERVIEW
The unique environment of microgravity enables new methods of manufacturing, cultivation, and production of specialized pharmaceuticals and therapeutics otherwise impossible to create on Earth. Thus, there now exists an exciting opportunity to anticipate these challenges and utilize the microgravity conditions in LEO for the research and development of new healthcare solutions for use both in space and on Earth.
Over the past decade, space has transitioned from a research-driven domain to one of commerce and exploration made possible by passionate innovators and entrepreneurs who, like us, believe that the future of humanity is among the stars. The significant decreases in the costs of launch and expanded access to orbit, made possible by companies like SpaceX and Axiom Space, have enabled new opportunities in tangential industries such as Bioscience and Healthcare.
Hosted by Boryung in collaboration with Axiom Space and Starburst Aerospace, the CIS Challenge aims to advance the future of space health and the next generation of pharmaceutical, bioscience, and medtech development in space. The first of its kind, the program is positioned to accelerate the development of space health and health-adjacent solutions to increase access to space, solve human healthcare-related problems in space, and create novel healthcare solutions in space for terrestrial use.
Space health encompasses all stages of the 'Healthcare Journey'— from initial monitoring and diagnosis, to treatment, therapeutics, and continuing care. The CIS Challenge leverages the extreme conditions of space to drive innovation and build viable, scalable companies at the intersection of commercial space and biomedical science. The annual challenge supports early-stage entrepreneurs and their startups as they develop revolutionary solutions and technologies that will allow for extended life and travel in space as well as the manufacturing of advanced health treatments to be built in space for use on Earth.
Eight to ten winning startups will receive a $100,000 investment from Boryung, support for on-orbit experimentation from Axiom, and acceptance into Starburst’s 13-week accelerator program—which will grant the startups access to a network of mentors, advisors, and investors within the aerospace, healthcare, and bioscience industries.
The selection process will be conducted in two rounds:
Round One:
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Interested startups may submit their applications which must thoroughly describe their core competences as a founding team and outline their proposed technology's relevance as a space health or health-adjacent solution.
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Pitch decks outlining the key business elements including the team, problem, solution, competitive landscape, business model, and technology roadmap are required. The pitch deck must not exceed 20 slides in length.
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A team of subject matter experts well-versed in both healthcare and aerospace-related domains will review the applications using the evaluation criteria posted below. 15-20 selected applicants will be invited to advance into the second round of the competition, the Care in Space Challenge Pitch Day event.
Round Two:
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Finalists advancing to the second round will be invited to pitch their concepts live
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A panel of expert judges will evaluate the finalist’s presentations using criteria to be announced prior to the pitch event and will nominate 8-10 winners of the Care in Space Challenge.
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Challenge winners will receive $100,000 in funding via a SAFE investment (Simple Agreement for Future Equity) and will participate in a 13-week Care in Space Accelerator program. The prize funding and subsequent accelerator program will offer challenge winners the unique opportunity to develop concrete business plans, establish product market fit, preform customer discovery, connect with industry stakeholders, receive mentorship from aerospace and healthcare industry experts, and showcase their progress to investors at the CIS Demo Day.
Round One Criteria
Product
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Does this technology provide a strong solution to a real problem?
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If successful, what impact will the solution have?
Innovation
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How is this capability accomplished today and what are the limitations of current practice?
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Does the proposed idea utilize novel theoretical concepts, approaches, methodologies, instrumentation, or services?
Team
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Does the team demonstrate a high level of ability and dedication?
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Have the founders worked together in the past? Have they built other successful businesses?
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Is there a clear mission and demonstrated passion, drive, discipline, ability to work collaboratively and willingness to push forward under conditions of extreme business uncertainty?
Commercialization
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Are the overall strategy, methodology, and analyses well-reasoned and appropriate to test the proposed idea?
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Is there a clear path for the product/service to become a viable business? What are the milestones?
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Are the product users and purchasers clearly identified?
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Is there evidence that market research or analysis of competitors was conducted?
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What are the risks and mitigation strategies?