Health Care Leaders Seek Your Ideas

The Duke Institute for Health Innovation – in collaboration with sponsors across the Health System - will hold the inaugural Duke Health Innovation Jam on Sept. 15.

The program is an event that allows for faculty and staff from the University and Health System to pitch ideas that can create value, differentiation or competitive advantage in transforming health and health care with a shot at winning actual investment dollars toward development. The format being used will be similar to the ABC reality show Shark Tank, where budding entrepreneurs make business presentations to “shark” investors. 

Participants, who can be from any office or department across Duke, will share their pitches with 10 investors comprised of Duke doctors and leaders. Ideas can cover the gamut of health care, from technological devices to communication systems between physicians, and must be geared toward health care. An application form is due by 5 p.m. Aug. 21.

A live event to showcase final pitches will take place from 8:30 a.m. to 12:30 p.m. Sept. 15 in Duke Hospital Lecture Room 2001. Non-participants are invited to attend, but must RSVP.

“We know we have a lot of ideas among the day-to-day care providers and our faculty and staff, but they might not have the chance to come to the right set of people who have the potential to put those ideas to use,” said Suresh Balu, director of the Duke Institute for Health Innovation. “We want to bring those ideas to the forefront.”

Proposals can be a concept or a simple prototype, but must have a clear business and value proposition. Participating teams can consist of individuals from different divisions, departments, and schools from across Duke. 

From applications, 10 innovative and conceptualized ideas will be selected to pitch to a panel which includes leaders like Mary Klotman, chair of the Department of Medicine; Solomon Aronson, executive vice chair of strategy and finance for the School of Medicine; and Theodore Pappas, vice dean for medical affairs.

Senior leaders have pledged to invest dollars in order to earn an early stake in viable ideas.

“It’s unique in that any of us sitting there listening are ready to share a little bit of money for a great idea that could benefit patients or spin out into a company someday,” Pappas said. “If you have the resources to make something beneficial happen, it’s common sense.”

Plus, as Balu pointed out, the Innovation Jam will offer plenty of entertainment along with valuable ideas to improve patient care. 

“Our investors have promised to ask good and fun questions while trying to find the right answer on whether to invest or not,” he said. “It’ll be a fun way to work toward having an impact on providing better outcomes for our patients and addressing all sorts of disparities.”