How do I submit ideas?
You submit ideas by answering the questions on the Idea Disclosure Form via the Portal on the Innovation Institute Miami website.
Do I need to do anything after I submit my idea?
You do not have to do anything after submission. We will inform you immediately upon our receipt of your idea. We will then seek to contact you within 3 business days to confirm the details of your idea.
How long does the appraisal take to evaluate my idea?
The appraisal of your idea will be completed and results communicated to you within 25 business days.
Who completes the appraisals?
The Innovation Institute Miami team is collaborating with i360medical to complete the appraisals. The appraisal will be completed with inputs from international physicians from relevant specialties, international mechanical and biomedical engineers, intellectual property and market analysts and commercialization specialists.
How many ideas progress after appraisal?
On average about 2% of ideas get to progress beyond appraisal. This rate of progression is similar to that of other industries.
What happens if my idea does well in appraisal?
High potential ideas are presented to Innovation Institute Miami’s approvals committee for further evaluation and shortlisting for progression through to the Alpha Phase. If approved, these ideas are developed into concept level prototypes, and a much deeper feasibility study is completed over six months to determine if the idea should be progressed to an early stage startup project.
What happens to my idea if it is not going to be progressed?
If your idea is not being progressed beyond appraisal, you will be fully informed on the reasons, and all relevant materials will be returned to you. You are free to pursue the idea further yourself if you wish.
Can I submit more than one idea?
You can submit as many health technologies and performance improvement ideas as you like. Each idea will be assessed on its own merit.
Can I submit along with a colleague?
Yes, you can co-invent with colleagues. Many great ideas are discovered in this way. Simply declare the interested parties when you are completing the Idea Disclosure Form via the Portal on the Innovation Institute Miami website.
Are the idea submissions confidential? How are they protected?
There is a privacy agreement on the Portal via the website called a ‘Confidentiality Agreement.’ This complies with the idea patenting process to protect your idea. The agreement binds all parties to keep the content confidential throughout the process to develop your idea.
What topics does an appraisal cover?
The appraisal considers the Clinical, Technical and Marketability of your idea. This means it seeks to know the following:
- Clinical relevance and potential
- Technical uniqueness
- Ability to protect
- Likelihood of Market adoption of your idea.
Do I need to have the idea patented before engaging with i360medical?
No, you do not need to have a patent. You can participate just as soon as you have an idea.