Shark Tank Competition 2023

 

Please note: In 2023, Shark Tank will consist of prize money of up to $75,000. In 2024, Shark Tank will be open to companies vying for an investment from the Epilepsy Ventures Fund of up to $250,000. 

Do you have an innovative idea to help people with epilepsy and seizures?
Throw it to the sharks!

LOIs now being accepted – due by December 31, 2022

The Epilepsy Study Consortium, in collaboration with the Epilepsy Foundation, is inviting entries that represent the most innovative new ideas in epilepsy treatment and care for the annual Shark Tank Competition. The winner(s) of the 2023 Shark Tank Competition will receive international recognition and compete for awards totaling up to $75,000 to support the development and commercialization of an important new product, technology, or therapeutic concept to help people with epilepsy.

The deadline for submitting a Letter of Intent (LOI) is December 31, 2022. The Shark Tank review committee will select as many as five (5) finalists. All finalists will be invited to present their product concepts or candidates at the 2023 Epilepsy Therapy and Device Development Conference, scheduled for May 31 to June 2, 2023. The winning entry (or entries) will be selected through live voting by conference attendees, and a panel of judges (Sharks) representing physicians and scientists, corporate executives, leading industry investors, people with epilepsy, and advocates. The project(s) deemed to be the most innovative will be announced at the conference, and the winner(s) can receive as much as $75,000 to accelerate the idea towards improving the quality of life of people with epilepsy. All finalists are eligible for a travel stipend to attend the conference and free conference registration.

Examples of Novel Concepts

  • Drug or device treatment that stops a seizure, especially those already developed or approved for a different indication
  • System that helps patients manage their treatment or their epilepsy (less invasive, less costly anti-epileptic drug measurement, for example)
  • Device that prevents personal injury from a seizure
  • Any other concept that could improve the lives of people with epilepsy potentially in the near future

Submission Details

LOI Applications Due December 31, 2022.

The proposal must include information about intellectual property, and a brief development outline with milestones for deliverables. Explain the potential impact on people with epilepsy in terms of the creativity/ingenuity of the concept, as well as significance of this concept as an advancement for people with epilepsy.

Eligibility

  • Applicants must demonstrate an ability to move the proposed plan to completion, showing how the prize can accelerate any step along the path to market.
  • Inventors who submitted ideas for previous Shark Tank Competitions are encouraged to re-submit their ideas if substantial progress has been made.
  • Applicants may reside in any country.
  • Address questions to sharktank@efa.org.

Please submit your LOI by December 31, 2022, 5:00 PM Eastern Time.

Proposal Content and Layout

  1. Title of proposed project (maximum 50 characters)
  2. Leader (name, title, affiliation, address, telephone, email address)
  3. Key collaborators (names, titles, affiliations)
  4. Brief summary of product goals and plans (not to exceed ½ page)
    • Focus specifically on what your project would bring to people with epilepsy and when
  5. Brief description of what is unique about the project. If it is competitive to any existing product or service, please describe how your project compares to any competitor (1 paragraph)
  6. Detailed description of how you plan to accomplish the overall plan (1 page) including:
    • Estimated steps/milestones/timeline to reach patients
    • Go/No Go decision points
  7. Brief description of intellectual property position and potential for commercialization: Investment potential and likelihood of ongoing funding support to reach patients (1 paragraph)
  8. Anticipated total budget and outline of what a prize of up to $75,000 will allow you to accomplish

Proposal Submission

  • Must not exceed 4 pages, inclusive of all information listed above
  • Minimum 10-point font
  • Convert LOI document to a PDF and send to sharktank@efa.org
  • A confirmation email will be replied to within 24-48 hours upon receipt of your LOI submission. If you have not received confirmation, please call: 1-301-918-3726.

Proposals will be scored based on the following criteria:

  1. Potential benefit and appeal to people with epilepsy and their families
  2. Likelihood of Development: Investment potential and consideration of ongoing funding support
  3. Intellectual Property Strategy and Status: Freedom to operate
  4. Timeframe and probability of success
  5. Fit with program mission
  6. Overall Impression

Selected Proposals

As many as five (5) finalists will be selected to present at the 2023 Epilepsy Therapy and Device Development Conference, scheduled for May 31 -June 2, 2023. Each presenter will have 5 minutes to present the concept, followed by 5 minutes of questioning. The "Shark Tank" event will feature live voting among audience members and a panel of judges (Sharks) representative of industry, advocacy, investors, and the research and medical communities. The winning project, or projects, deemed to be the most innovative will be announced at the conclusion of the competition.

    What is the difference between the 2023 and 2024 Shark Tank?

    In 2023 the Epilepsy Study Consortium will sponsor the Shark Tank. The money will be provided as a prize, and no investment return is required. In 2024 the Epilepsy Ventures Fund will sponsor the Shark tank Investment prize. As a result, the prize is greater (up to $250,000), and the winner will enter into an agreement with the Epilepsy Foundation for an investment. There will also be a $25,000 community prize, not tied to an investment. Companies for the Shark Tank Investment Prize in 2024 will be selected from companies participating in the Epilepsy Foundation Accelerator Course, co-sponsored by the Danny Did Foundation.

    What are the selection criteria?

    We select our finalists based on the uniqueness of the solution proposed, the potential for transformative impact, and the likelihood that the solution could get to market in a timeframe that matters.

    If selected as a finalist, what should I expect?

    After we select our five finalists, we provide pitch coaching sessions prior to the big event. Please click here to view examples of past shark tank events to see what the event looks like.

    Authored By:

    Epilepsy Foundation Research

    on Thursday, July 29, 2021

    Resources

    Epilepsy Centers

    Epilepsy centers provide you with a team of specialists to help you diagnose your epilepsy and explore treatment options.

    Epilepsy Medication

    Find in-depth information on anti-seizure medications so you know what to ask your doctor.

    Epilepsy and Seizures 24/7 Helpline

    Call our Epilepsy and Seizures 24/7 Helpline and talk with an epilepsy information specialist or submit a question online.

    Tools & Forms

    Download our seizure tracking app, print out seizure action plans, or explore other educational materials.