What types of startups are eligible to compete?

Startup Prize: Focus on Health is open to early stage health and medical startups from anywhere in the world. If your startup generated less than $2M in annual revenue and you are set to make a big impact in your industry or on the world, you’re our kind of entrepreneur.

• Medical Devices
• Drug Therapies/Pharma
• Healthcare Services
• Diagnostics
• HealthTech: Consumers/Employers
• HealthTech: Payers/Providers
• Health & Wellness Products & Services

Are there restrictions on who can apply?

Companies are typically under 5 years old and have earned under $2 million in annual revenue last fiscal year. 

Does my startup need to be at a certain phase of development?

We are open for startups anywhere in the process, from ideation to proof of concept to generating revenue; from pre-seed to seed, and even Series A. If you are unsure about your startup’s qualifications, please reach out to melissa@prize.foundation.

How is Startup Prize different from other pitch competitions?

• Startups are required to attend at least one qualifying event (online, offline or both) in which they will access mentorship from subject matter experts, payers, providers and investors, and be able to network with fellow founders. Many describe the experience as highly collaborative.
• Finalists are able to present their concepts to a panel of Investor Judges who not only award the grand prize for each track, but also have the ability to provide further mentorship and/or investment to any of the final startups.

How much does it cost to register?

Registration is free and we don’t take equity from our participating startups. if you want to come to the in-person Startup Prize event, we are often able to consider and award travel stipends to help offset the cost of those from outside of the area. 

How do I register for a qualifying event?

Registration is simple! You can register online via our registration page. All you need to do to register for and attend a Qualifying Event is answer a couple of basic questions about your startup. If you would like to be considered for the Finals, you also will need to submit an Entrepreneur Canvas via our Portal by Monday, July 1, 2024 at 11:59pm CT.

Am I required to relocate my business to Shreveport, Louisiana?

No, your business does not need to be domiciled in Louisiana and is not required to relocate to Shreveport or Louisiana in order to participate or win (although we’d be happy to have you here!). 

I competed during a past year of Startup Prize, but I didn’t win. Can I bring the same concept back and compete again?

Yes, we encourage entrepreneurs to come back and participate again, whether with their past concepts or with new concepts. As long as your startup still meets the basic requirements above, you may return and compete again. It is always exciting to see how startups have applied the knowledge gained at our events and have continued to evolve their concepts.

What can I expect during a qualifying event?

Qualifying events consist of mentor-led roundtable discussions, panels and keynote conversations. For in-person events, meals and super fun events are included in the weekend.

Do I need to have a slide deck or business plan finalized to attend a Qualifying Event?

No, you do not need a slide deck, a business plan or even a pitch ready to attend a Qualifying Event (unless you are participating in a roundtable that focuses on one of those topics). That said, we highly recommend including these items in your Entrepreneur Canvas. And if you make it into Startup Prize Final Final, you will be presenting in front of the Investor Judges, so a slide deck is highly recommended.

What is the difference between an online qualifying event and an in person qualifying event?

Both events feature the same types of mentorship opportunities– roundtables, panels, keynotes. Our in person qualifying event provides extra opportunities for networking, both with mentors and your fellow entrepreneurs. We often see founders test the waters with our online qualifier first, then opt in to join us for our in person qualifying event in Shreveport, LA.

What type of information is required for the portal submission?

Startup Prize portal submission includes a lean canvas survey created by our Investor Judges. You will be asked about your market, your product or service, your team, financials and your intellectual property and where you are in the patent process. We also accept business plans, other materials supporting your business and anything else you feel might give the Investor Judges a reason to pick you and your startup for our Startup Prize Final Final. Once you register for Startup Prize, you will have access to the portal and can begin working on your Entrepreneur Canvas. 

Who are the Mentors and Investor Judges?

The Startup Prize Mentors and Investor Judges are a group of local, regional and national professionals who are passionate about helping you to evolve and transform your health startup. These include members of hospital systems, health providers and payers, and industry agnostic subject matter experts, including legal, accounting and finances, business strategy, marketing and beyond. We tailor our mentors to best fit the needs of each years’ participating startups.

Investors run the gamut between angels, private and family offices, foundational investment, VC and equity opportunities.

How will my startup be assessed/judged?

Your startup will be judged in the following areas:

• Strength of initial concept
• Uniqueness in the marketplace
• Speed to market (how quick you can deliver a marketable product/service)
• Benefit to humanity (not kidding on this, we really want our winner to change the world)
• Investment potential
• Special superpowers (an assessment of management teams, network, current investment).

You, as an entrepreneur, will also be evaluated through your interactions with mentors and your fellow entrepreneurs during the Qualifying Events.

Is the competition virtual or in person?

Both. We offer two qualifying events (one online and one in person). Our Finals are held in person in Shreveport, LA. We provide accommodations and travel stipends for our finalists.

What is your policy on intellectual property and NDAs?

Protection of intellectual property rights is the sole responsibility of the founder and startup team. This includes patents, trademarks, copyright, trade secrets, etc. Information included in your registration will be shared with our Mentor-Judges. Please note we do NOT require our Mentor-Judges to sign Non-Disclosure Agreements (NDAs). Therefore, please do not share anything that could be potentially damaging to your concept and company, should that information be disclosed. A good rule of thumb is to think about it the same way you would if you were pitching to potential investors who generally will not sign NDAs for the first presentation.

What do I win?

Startup Prize gives $10,000 cash to our winner. But as we say, the $10K is the small prize. The big prize is the ability to connect with mentors and potential investors who are keen to help you move your business forward.

Does Startup Prize provide funding or take equity?

Startup Prize does not provide direct funding to participants.  However, each track’s grand prize winner will walk away with a cash prize of $10,000 to be used to help grow their business.

All finalists have the opportunity to present their concepts to a panel of Investor Judges who have the ability (if desired) to invest in any of those businesses.

Startup Prize does not take any equity from participating startups.

What resources or scholarships will be provided for traveling for this competition? 

Startup Prize has multiple resources to help offset travel costs of the startup.  We also offer scholarships to help offset the cost of travel for startup team members to attend in person qualifying events.