CARING FOR CAREGIVERS CHALLENGE OVERVIEW
The Caring for Caregivers Challenge is designed to motivate the development of novel, comprehensive approaches that enable family caregivers to provide in-home care of adult family members in a manner that: 1) improves the quality of life for both caregivers and care recipients; 2) reduces stress, burnout and financial burdens associated with caring for adult family members; 3) is affordable and accessible for everyone; 4) is connected into community resources; and 5) provides a holistic approach to healthy, happy lifestyles for caregiving families.
$100,000 PER WINNER ACROSS THREE PHASES
The Caring for Caregivers Challenge consists of three phases that award up to four winners with $50,000-$100,000 in non-dilutive funding. In addition, two finalists may be provided with opportunities to pilot their solutions in collaboration with GuideWell.
- Application Phase (Sept-Dec 2019): Up to four applicants or teams will be competitively selected, and each will receive $50,000 to assist with costs associated with the validation phase of the Challenge. Applications can be submitted between September 18 and November 15, 2019. The four finalists will be selected no later than December 13th.
- Validation Phase (Jan-Mar 2020): Selected applicants will have three months to work with GuideWell to conduct external market testing or validation of their approach. GuideWell will work with each participant to define the validation criteria that should be met. Participants that successfully demonstrate the capability to sustainably scale their solution with a large population of family caregivers will be awarded another $50,000.
- Pilot Phase (Apr-Aug 2020): Up to two finalists that successfully complete the validation phase may have the opportunity to collaborate with GuideWell to conduct a pilot of their solution. Pilot opportunities will be limited to finalists that address a specific market opportunity that aligns with GuideWell’s strategic direction.
GuideWell is seeking innovative companies or non-profits with programs, platforms, technology systems or services that have the potential to provide a comprehensive resource network for family caregivers. The most promising approaches should have the potential to eliminate critical challenges family caregivers face every day and empower them to affordably care for their adult family members.
The Caring for Caregivers Challenge is open to for-profit and non-profit organizations that earned a minimum of $250,000 in 2018 revenues. Applicants must be able to demonstrate their ability to develop and sustainably deploy innovative, scalable approaches that support the mental, social and economic health of family caregivers and improve their ability to care for loved ones. Traction can also be demonstrated by one or more of the following:
- A minimum of $250,000 in revenues (or teams jointly eaning a minimum of $500,000)
- $500,000 in seed capital raised
- Verifiable (reference required) customer pilots
- Accelerating product adoption (especially for consumer-focused solutions)
GuideWell believes it “takes a village” to sustainably support family caregivers and single-point solutions may not be broad enough to provide comprehensive relief to family caregivers. In order to increase the scope and scale of support resources for family caregivers, applicants may consist of a team of diverse organizations that come together to jointly develop novel, scalable approaches. Eligible team members can include innovative for-profit companies, non-profit organizations and individual subject matter experts. Team-based applicants must include at least two established corporate/non-profit entities on a team that jointly earned a minimum of $500,000 in 2018 revenues.
Academic institutions and public-sector organizations are not directly eligible, but individuals from these organizations can participate as subject matter experts.
As a condition of moving forward into the pilot stage of the Challenge, GuideWell may request that high potential individual applicants come together to form a team or join an applicant team after the initial application window closes.
TOPIC AREAS OF INTEREST
The Caring for Caregivers Challenge seeks connected, comprehensive approaches to solving critical challenges that are commonly faced by family caregivers. There will be two award categories under this challenge.
- Approaches that serve family caregivers caring for senior family members over age 65
- Approaches that serve family caregivers caring for partners or adult children under age 65 that are mentally disabled, permanently homebound due to a physical disability, terminally ill or that suffer from one of the four chronic diseases identified above.
The most promising approaches will focus on providing affordable, accessible solutions that improve the quality of life for family caregivers, the loved ones they are caring for and other family members living in the same home as the caregiver.
Preference will be given to approaches that demonstrate a strong potential to provide innovative cost effective, accessible and holistic solutions and have the potential to assist family caregivers across diverse populations and communities across the United States.
Applicants should be able to address a minimum of two of the following challenge areas:
- Novel approaches for reducing family caregiver stress
- Social inclusion for both caregivers and care recipients
- Provision of financial, legal or health care advisory assistance
- Employer-based solutions/resources to assist employee-caregivers
- Increasing independence for family care recipients
- Enabling healthy, happy lifestyles for caregiving families
- Developing healthy habits for caregiving families – nutrition, exercise, social integration
- Improving accessibility: healthy foods, prescriptions, other supplies
- Affordable, holistic care for family care recipients
- Market Scalability: Potential to have deep impact across diverse communities and caregiver populations
- Feasibility of the approach: can the proposed approach be developed in a timely, cost-effective manner
- Applicability: Does the approach directly address key challenges faced by caregivers in an affordable, accessible manner
- Team Qualifications: is the leadership of the team qualified to deploy the approach at scale
- Potential to win up to $100,000 in non-dilutive funding to further expand your solution
- Ability to form strategic partnerships that result in a comprehensive approach that addresses multiple facets of family-based caregiving
- Opportunity to pilot your solution in partnership with GuideWell
- Access to mentors and subject matter experts in the healthcare industry
- No cost or equity requirements to participate (other than travel to program activities)
- Opportunity for potential industry media exposure in print, TV and digital marketing outlets.