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Challenge Seeks Development Partner for Nanotech Biosensor

EKG (Photos8.com)

(Photos8.com)

20 June 2014. A new challenge on InnoCentive calls for a medical technology company or institute to develop a new type of nanoscale biosensor for diagnostic and therapeutic applications. The challenge has no immediate financial award, but winners of the competition will earn the right to negotiate a compensated collaboration contract with the Cleveland Clinic, the challenge’s sponsor, to develop their ideas.

The deadline for submissions is 2 August 2014; a free registration is required to see the challenge details.

InnoCentive in Waltham, Massachusetts conducts open-innovation, crowdsourcing competitions for corporate and organization sponsors, in this case the Cleveland Clinic. InnoCentive calls this type of competition an an electronic request for partners challenge, where competitors submit a written proposal for evaluation and follow-up by the sponsor.

The Cleveland Clinic is currently developing an invasive biosensor based on a new kind of nanotechnology for use in diagnosis and therapies that they hope will help clinicians and medical technicians do their work more safely and with more reliable outcomes. The clinic says the new device is expected to be a unique innovation and a significant improvement over current diagnostic technologies.

In this challenge, Cleveland Clinic is seeking an organizational partner that can take its design for the biosensor and develop it into a workable product. Collaborators are expected to provide biotechnical engineering, computer expertise, and nanotechnology production services, as well as the initial funding for the work.

Participants in the challenge are expected to submit a written preliminary proposal for review by Cleveland Clinic staff. Competitors are urged not to reveal confidential information in their proposals. Winning entrants will then negotiate a collaboration contract with Cleveland Clinic.

The collaboration contract will cover the scope of the work and tasks to be performed, as well as milestones, timetable, and financial terms. While participation in the challenge does not require any transfer of intellectual property, the issue will also likely be a subject of the contract negotiations and document.

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