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Wanted: Healthcare entrepreneurship proposals.

Byline: Adina Genn

Entrepreneurs with market-based products or services that take on a healthcare problem in local, underserved communities could stand to score $60,000 in prize money.

This is thanks to the Healthcare Entrepreneurship Community Challenge, which is accepting proposals until March 15.Applications can be submitted atonline.

This year's challenge topic is "Creating Wellness," and those with projects that would assist the underserved on Long Island, New York City and the Hudson Valley region are welcome to apply.

The project is a joint partnership of Hofstra's Center for Entrepreneurship, the School of Health Professions and Human Services, the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell and Northwell Ventures, the investment arm of Northwell Health.

"By encouraging entrepreneurs to focus their talents and energy on creating wellness, we can improve healthcare outcomes and make significant contributions to the future of our regional economy," Stacey Sikes, executive dean of Hofstra's Entrepreneurship and Business Development, said in a statement about the challenge.

This partnership features a three-year entrepreneurship-training program, which is funded by a $485,000 federal grant from a regional innovation strategies program administered by the U.S. Department of Commerce's Economic Development Administration, according to Hofstra.

"Addressing the underlying factors that contribute to health disparities in so many communities throughout the metropolitan area requires us to engage differently and think differently," Dr. Ram Raju, Northwell's senior vice president and chief community investment officer, said in a statement.

"Given the level of talent that exists throughout the region, I'm confident that we can identify innovative solutions that will expand access to care and improve outcomes," he added.

The prizes, which include cash and in-kind services, are $26,000 for first place, $18,000 for second place and $13,000 for third place. Winners will be announced at Hofstra's Regional Symposium and Pitch Competition on Sept. 24.

Hofstra's National Center for Suburban Studies is sponsoring $5,000 for a community impact award for diverse entrepreneurs to seek solutions to the problems of providing healthcare in underserved suburbs.

And rizes are also sponsored by Digital Remedy, a digital marketing firm founded by Hofstra Board of Trustees member Mike Seiman; Ernst & Young, an accounting firms focused on building a better working world for their people, clients, and communities; Nixon Peabody, a law; and the NuHealth Foundation, which boosts NuHealth's healthcare to hundreds of thousands of Long Islanders, including those who are underserved, uninsured and overlooked.

In addition, Intelligent Product Solutions is providing prototyping consulting services as an in-kind prize. Hofstra Center for Entrepreneurship is sponsoring in-kind prizes including technical assistance, incubator space, and marketing support.

An expert panel of entrepreneurial instructors will review all submissions. This team will also lead a bootcamp for selected entrepreneurs from May 29 31 at Hofstra's business incubator, the ideaHUb.

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Publication:Long Island Business News
Date:Feb 20, 2019
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