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News

Drake students compete in health care entrepreneur competition

Drake students recently participated in Drake's Next Top Entrepreneur Competition, a challenge allowing them the opportunity to showcase their creativity skills and health care related innovations. The event was part of Entrepreneurship Week USA and was hosted by Drake's DELTA Rx Institute.

The competition was split into three rounds, held on campus Feb. 22, 24 and 29, with top performers advancing to the next round. Three judges representing the pharmacy, business and a health care sectors judged each round in the following format:

  • First round: a three-minute presentation of a health care idea,
  • Second round: a three-minute presentation of an impromptu solution to a health care problem, and the
  • Third round: a 15-minute presentation of a business plan for a new health care endeavor.

"This annual event provides an opportunity for students to showcase their creativity, innovation, problem-solving and presentation skills as they share their ideas to solve health care-related problems," said Renae Chesnut, associate dean for academic and student affairs and a member of the DELTA Rx Institute team.

"This competition may spur the development of future products and/or services that can benefit patients, health care providers and society at large," she added.

The top three winners won cash prizes of $1500, $1000 and $500, respectively. Charles Hartig (P3), Derek Lomas (P3) and Kejal Patel (P3) won first place.

The team's idea was a company that would break through the language and cultural barriers of pharmacy using Internet video conferencing and telephone translation services.

"The business model is targeting the millions and a growing number of people that cannot proficiently speak English," Hartig said. "Pharmacists have a difficult time counseling this group on their medications and explaining how to take the medicine and adverse events associated with the medication."

The second place team of Alex Kieger, a senior Arts and Sciences major, and Tim Sullivan (P2), presented Long-Term Care (LTC).

The LTC plan would address the problem of unnecessary hospitalization of nursing home residents. LTC would save people in nursing homes money by binging in technology and equipment to perform procedures in the nursing home rather than a hospital.

Elizabeth Kuhr (P4) and Sara McEnenay (P4) took third place with "Keep the Beat," a continuous wellness program for employers and insurance companies.

The program would extend beyond the traditional voluntary screenings. If  employees met their health goals set by the insurance company, the employee would receive a discount on their health insurance. Conversely, if the employee did not meet the goals, they could enroll in a program at no cost to help meet those goals.

The competition was supported by funding from Wal-Mart and the National Collegiate Innovators and Inventors Association.

 



Tim Sullivan & Alex Keiger presenting
their business plan





Front Row (Left to Right):
Sara McEnaney, Kathryn McDonald,
Elizabeth Marks
Back Row (Left to Right):
Charlie Hartig, Derek Lomas,
Tim Sullivan, Alex Keiger,
Jedidiah Bartlett

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Last Modified: 09/01/2011 13:42:23 by content editor