idea 2 IMPACT (i2I) is an online, 6-week course that will guide you step by step through the experience of developing an innovative and entrepreneurial idea in the area of assistive technology (AT). Each week, you will focus on a stage of the translational process as you work in teams to identify a problem, analyze stakeholders, define a solution, describe its benefits, research the competition, articulate differentiators, and create an action plan.
Welcome to Idea 2 IMPACT: Translating Assistive Health Technologies and Other Products, where you'll learn how to translate scientific research to innovations that benefit humankind. idea 2 IMPACT (i2I) is an online, 6-week course that will guide you step by step through the experience of developing an innovative and entrepreneurial idea in assistive technology (AT), biomedical technology, and other types of technologies. The course is for academic research scientists, early-stage entrepreneurs, clinicians, and practitioner-researchers (rehabilitation engineers, OTs, PTs, MDs, PhDs, fellows, medical or other graduate-level students, undergraduates, faculty, and post-docs) who are new to entrepreneurship, and interested in translating research into practical applications to get their product or ideas to the intended audience. Each week, you will focus on a stage of the translational process to identify a problem, analyze stakeholders, define a solution, describe its benefits, research the competition, articulate differentiators and create an action plan.
THE PROBLEM and STAKEHOLDERS
What is the problem you're solving? Who does it affect, and how do they view it? Are you sure the problem needs to be solved? How do you know? These are some of the questions we'll be asking in this module. In addition, who is impacted by the problem you've identified and the solution you'd like to propose? How do different stakeholders experience the problem differently? Have you identified all of the relevant stakeholders?
SOLUTION and BENEFITS
What solution are you proposing to address the problem you've identified? Is it a medical device? a drug? an app? Why is it important to be very precise in identifying what your solution is, how it works, and how it solves the problem? Find out in this module.
You've identified a problem. You've identified stakeholders. You've outlined a solution and articulated its benefits. Now it's time to dig more deeply into who (or what) is offering a competing solution. Do you know who your competition is? Are you sure? Find out how to identify and analyze competitors in this module.
What sets your solution apart? What makes it different? In this module, you'll learn to think beyond features and functionality to explore all aspects of potential differentiation.
REGULATION and REIMBURSEMENT
The marketing and sale within the United States of the healthcare product you are developing will require complying with various regulatory bodies including the U.S. Food and Drug Administration (FDA) and other industrial standards. A regulatory strategy describes the approach that will be used to meet these standards. This strategy also includes understanding and designing for requirements that third-party payors or insurers may have. Determining who will pay for the product, whether it can be reimbursed by public or private payers, or if it must be paid for out-of-pocket is important for reducing risk in your commercialization plan.
Now it's time to put it all together into a final presentation pitch: problem, stakeholders, solution, benefits, competition, and differentiation. How can you make it compelling? Also, what milestones will you need to reach to take your project forward? In this module, we'll review some of the next steps as you plan your final presentation.