Be Involved > Innovators
SIMPLE Ventures is looking to work with younger scientists, such as students and post doctoral fellows. They are full of innovative ideas and often socially minded. Also, they usually have more freedom in securing intellectual properties of their innovations, unencumbered.
Bringing Innovations to Harvest
There are numerous examples of very promising innovations developed by these young scientists, all in a very short period of time, such as in the example of the Moca team from MIT where a group of students developed innovative mobile phone based BOP health care solutions by using an open source Android platform. The most unfortunate thing is that most of these innovations have fizzled due to the lack of proper funding and proper business development, wasting the tremendous opportunities for good that could have been harvested with these innovations. SV intends to bring innovations of merit to their harvest, benefiting all, especially the people who have the least in the world.
The SIMPLE Ventures management team has great experience in working with young scientists at the leading universities in the US, UK and Western Europe. Innovations will be recruited from this fertile ground. Ten teams with innovations of highest merit and potential will be selected. $100,000 will be allocated to each team to develop the technology, intellectual properties and business structure and to build the prototype within a nine month period. SV management will work with these seed companies to give all the needed guidance and assistance, through also the advisory board network.
A Week at Oxford
At the end of this nine month period, SIMPLE Ventures will bring the successful seed companies to attend a one week workshop at Oxford. At the workshop, up to three members from each of these seed companies will work closely with the SV management and the advisory board members to develop a comprehensive business plan to take the medical device innovations to commercialization. At the end of the week at Oxford, the seed companies will present their business plans to the SV management and all the advisory board members and invited potential investors. It will then be decided by the SV Investment Committee to either continue to fund the companies internally to a further stage or arrange for the companies to go out for secondary financing or license the technologies to interested parties. The goal is to take the companies to exit stage within four years from that point, aiming for measurable social value creation in the BOP world and financial return.