Versalie™ Virtual Innovation Challenge

Seeking Innovators

The 2024 Fall Versalie™ Virtual Innovation Challenge is a competition that focuses on innovative solutions for women’s health, specifically menopause, and sourcing small startups and entrepreneurs with MVPs (Minimum Viable Products). This event aims to identify emerging technologies that use innovative endeavors in digital healthcare technology to improve consumer engagement, education, and adherence to healthy practices for better holistic health. As healthcare technology continues to change the world, health companies are looking to opportunities created by these digital advances to create applications and systems to improve access, availability, awareness, and the design of health solutions for underserved populations. The Challenge seeks innovators who have developed groundbreaking solutions that explore the connection between women’s health and holistic well-being using data-driven methodologies. The purpose of the challenge is to bolster innovation and identify high-potential new technologies in an emerging, and quickly growing, segment of the digital health and healthcare market that provides opportunities to address healthcare challenges.

Timeline

Application Process

Call for Applications

Review of Applications

Applications Close

Final Review
& Selection

Innovators Selected to Pitch

Apply to Pitch

We are currently accepting applications for the event, which will be judged based on the following criteria:

Impact: Will the innovation make an impact on a large population/large number of lives touched or a particularly strong impact on a smaller population?
Differentiation: Does the idea create competitive processes, products, and/or ideas compared to what is currently available?
Scalability: Does the idea meet criteria that show it’s capable of scaling to meet full value potential?
Technical feasibility: Does the idea have a potential product market fit and the potential for standing up the product in the market?
Economic feasibility: Does the idea have a business case articulated and the potential to raise and sustain funding?
Team: Does the idea lend itself to a team collaboration?
Quality of Work: Is the pitch and value proposition clear and well-articulated?

Prizes

1st Place Prize

2nd Place Prize

3rd Place Prize

Apply

Fill out the following form to submit your application

First Name

Last Name

Title

Organization

Website

What is your innovative solution for addressing menopause-related challenges in women's health? Describe the problem it solves and how it improves consumer engagement, education, or adherence to healthy practices.

How will your solution make an impact? Provide data or projections on the potential number of lives touched and the depth of impact on the target population.

What makes your solution unique compared to existing products or services? Highlight any competitive advantages, proprietary technology, or intellectual property.

At what stage is your innovation (e.g., concept, prototype, MVP, fully launched)? What are your plans for scaling the solution, and what milestones do you aim to achieve in the next 1-3 years?

If you have developed an MVP, describe how it was validated. What feedback have you received from users, and what changes have you made based on this feedback?

What technologies underpin your solution, and how have you validated their effectiveness? Discuss any testing, pilot programs, or user feedback that supports your product-market fit.

What is your current funding stage (e.g., bootstrapped, seed-funded, Series A)? Provide details on funding raised to date and your revenue model.

If awarded the prize money, how would you allocate it to advance your solution? Identify specific areas where the funds would have the most significant impact.

Who are the key members of your team, and what are their roles? How does your team’s expertise contribute to the development and potential success of your innovation?

Summarize your pitch and value proposition. How clearly does it communicate the problem, solution, and impact? What steps have you taken to refine your presentation based on feedback?

Share any links relevant to your application (videos, pitchdecks, pdf, etc)

If not selected, are you interested in being contacted by HITLAB for other research, advisory, and/or education services?

Yes No

Terms & Conditions

I agree with the T&C of this challenge

FAQ

Is there a cost to apply?

No, there is no application fee. HITLAB does not take equity from winners or participants, and there is no fee to accept prizes. There is no cost to innovators for applying or participating.

How is the Challenge Judged?

The challenge will be judged by a panel of digital health leaders and pitched solutions will be selected on the basis of impact, differentiation, scalability, technical feasibility, economic feasibility, and quality of work.

What stage companies are you looking for?

Ideally we are looking for early stage companies with a minimum viable product. Companies can be located worldwide (excluding Cuba, Iran, Libya, North Korea, Sudan, Russia and Syria).

Will I have to present in person?

No, the Challenge Day on November 21, 2024 will be held entirely virtually. You will not be required to attend in-person. You or someone from your team will be required to attend the challenge virtually to complete your pitch.

When will the finalists be announced?

Finalists will be announced on November 14, 2024 on social media and the website