DELTA Rx and the Drake College of Pharmacy and Health Sciences recently hosted the second annual “Drake University’s Next Top Entrepreneur Competition.” The event coincided with Entrepreneurship Week USA, a time designated for colleges around the country to promote creative thinking within their student population. The competition at Drake, consistent with the DELTA Rx mission, served to foster a spirit of change and innovation amongst Drake students across campus.
Individuals and teams of many different backgrounds and majors came together throughout the week to present their innovative health care related ideas to a judging panel. In the first round, twelve teams presented their ideas to a panel of judges in three minutes or less. Ten teams were selected to continue to the second round, in which the participants were given one hour to create a business plan addressing a problem revealed upon their arrival. This year’s problem was to develop an innovative product or service that addresses the growing problem of heart disease in the United States. Five teams were selected to continue to the third and final round of the competition. They were given five days to prepare and polish a formal business plan and budget for their original idea, which were presented to a judging panel in a ten minute time period. Three winners were selected and awarded cash prizes of $1,500, $1,000 and $500 respectively, funded by a grant from Wal-Mart.
1st place – “No English? No Problema!”
By: Charlie Hartig (P3), Kejal Patel (P3), and Derek Lomas (P3)
Overview: A significant language barrier often exists between pharmacists and patients who speak a language other than English. To remedy this issue, pharmacists who each speak a prominent non-English language can be available by telephone and through Internet streaming services to deliver medication information to these patients. A pharmacy can sign up to have this program implemented, and whenever a patient needs instructions related to their medications, the pharmacy can contact a pharmacist who also speaks that language to talk to the patient.
2nd place – “Long-Term Care (LTC) Consults”
By: Alex Kieger (AS4) and Tim Sullivan (P2)
Overview: This business would address the problem of unnecessary hospitalization of nursing home residents. Currently, nursing homes often send their residents to the hospital when a problem arises or the patient needs routine testing. Many of these procedures cost thousands of dollars, and the patient has to pay for their own hospital care. LTC Consults would utilize proper evaluative technology and telemedicine equipment to perform many basic procedures in the nursing home itself. Then, they could train the staff to use the equipment, and patients could avoid unnecessary hospitalization. This program would not only reduce the cost of medical treatment for the patient, but it would also lower health care costs overall.
3rd place – “Keep the Beat”
By: Sarah McEnaney (P4) and Libby Kuhr (P4)
Overview: The goal of this program is to decrease the incidence of heart disease by raising awareness of heart health and helping patients receive the treatment they need. The program would first target large companies that offer health insurance to their employees. Insurance companies could contract with this program to help patients meet certain health goals, with insurance discounts as rewards. Patients may participate in voluntary screenings, drug utilization reviews, and other educational sessions. The program’s testing and follow-up methods could save insurance providers time and money, while promoting healthy living amongst the general population.
Other ideas included advanced patient care by collaborating with physicians, a Health “Barcade” with educational games and entertainment, a device and system that would notify patients when their prescriptions are ready in chain pharmacies, and internet-based health databases.
Overall, the competition was a tremendous success and enjoyable for all involved. Several students had positive comments about the opportunity to engage in the creative processes required throughout this competition:
“I think that the most positive experience of this competition was the ability to put all the creative thinking techniques I’ve learned at Drake to good use. After two years of participating in the event, I actually feel more prepared for my career than I was prior to the competition. I hope that in the future more students take advantage of this worthwhile event.” - Tim Sullivan, P2
“This was a great way to use the skills and knowledge we have gained throughout pharmacy school. I think this competition is very beneficial for younger students who are preparing for rotations. I wish I would have gotten involved sooner!” - Elizabeth Kuhr, P4
The judges of each round were also impressed with the level of effort and professionalism of all students involved:
“Being a judge for the Next Top Entrepreneur Competition was both enlightening and inspiring. These students are not only generating new ideas for their industry, they are truly embracing interdisciplinary thinking and reaching across the boundary lines of the university. They are borrowing from management, leadership, fine arts, and behavioral sciences to create something truly new. While the competition was at the heart of this experience, these young people have a broader goal in mind: they truly want to change the world. Listening to them present their ideas, I was reminded how important it is for every person - student and instructor alike - to embrace the ideals necessary to make an impact. I would judge again in a heartbeat." -Timothy Johnson, Carpe Factum
Thank you to all who participated and helped with this event. We hope to see it continue to expand and grow in future years. Until then, keep the creativity flowing!
