We want to fully understand the tradeoffs of supporting competing teams in their clinical trials or not.
Such support would involve:
- Milestone awards for qualifying teams, covering the expense of submitting a clinical trial proposal to the FDA or equivalent regulatory body.
- Partnering qualifying teams with a contract research organization (CRO).
- Connecting teams with investors.
- Second milestone awards to cover teams’ expenses during Phase 2 clinical trials.
The main upside is that this would allow many more teams to compete. If we don’t provide support for clinical trials, the competition would likely be limited to existing start-ups and established firms.
The downside is that it would make the competition way more expensive, which would make it more difficult to fundraise for the prize, and - if we are able to raise the funds - reduce the final prize purse for the winner(s).
Are there other tradeoffs we should consider?