Action is a necessary ingredient for innovation. And health innovations are notoriously difficult to fund – often relying heavily on the time-consuming process of obtaining grants or yielding some ownership through venture capital. Well, new opportunities are presenting themselves. Health innovations may be funded through crowdsourcing sites like Kickstarter and through progressive employers like MedStar Health.
We all have ideas. And most of us have had that, “Hey! I thought of that,” kind of moments when seeing some new widget, gadget, or product. There are many reasons (excuses) we choose inaction. We often blame it on time or money.
What if that money barrier could be removed by a bunch of people who like your idea or your mission? Well it can, through crowdfunding sites such as Kickstarter.
What if the time and money barriers could be removed through progressive employers? Well it can. MedStar Health is one such employer with much more than just a generous intellectual property policy. MedStar Inventor Services actually provides support for its associates’ ideas all the way from concept to market.
See the YouTube video below to learn more about how crowdfunding sites work (and if you’re a MedStar associate, the end of the video tells you what MedStar can do for you and how to get started). If your organization blocks video sharing sites, watch it here: [QuickTime version] [Flash version]
(This, of course, does not constitute financial or legal advice. Before posting any projects on crowdfunding sites such as Kickstarter, consult an intellectual property attorney and other appropriate professionals. Also, be sure to check your employment contract.)
Weigh in on crowdfunding for health innovation projects by posting in the comments below.