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Despite still being in private beta, cancer care startup CancerIQ took home the top prize in the health division of the Challenge Cup competition in Washington DC and signed a contract with its first customer this week.
CancerIQ works as a suite of applications designed to target personalized cancer care. Formed in 2012, CancerIQ utilized the big data platform that it created in 2006 at the University of Chicago, and subsequently optimized it to work specifically for issues pertaining to cancer. It uses data analytics to streamline the most complicated oncologic decisions, allowing for better access to better care. In doing this, CancerIQ has the ability to help providers, counselors, patients and their families with accelerated personalized care and improved research productivity.
After landing the runner-up spot at the Challenge Cup in Chicago last November, CancerIQ was brought to DC as a wildcard pick after another team couldn’t produce a travel visa. The Challenge Cup, a global startup competition, brings together 64 companies from across the world to address universal issues. Produced by DC incubator 1776, the Challenge Cup awards startups in four categories – education, energy, health and smart cities.
Presenting at the competition allowed CancerIQ to open other doors for progress. Since last fall, CancerIQ has ramped up seed funds and has kept its eyes on product development - and at the Challenge Cup investors and customers alike took notice.
“It was a great experience for us,” said Feyi Olopade, CEO of CancerIQ. “We got exposure to a number of top officials in the administration, in the industry. Most surprising – we got to spend quality time with the other 16 startups in my sector, many of whom are at various stages. We had the opportunity to cross-pollinate ideas and growth-hacking strategies that have been tried and tested. This was the first time we got to share our updated traction story with the world and with investors."
One of the judges for the healthcare category was the head of innovation for MedStar, a hospital system in the DC metro area. Following CancerIQ’s win, client meetings went smoother than expected: “Rather than question whether our software would get attention from ‘higher-ups’ within the organization, they used our big win to engage with others who will make the decision to make CancerIQ available to the entire MedStar network.”
CancerIQ has actively been recruiting pilot sites to participate in controlled studies on the impact of operating efficiency and clinical care, making its move to turn ideas into real solutions.
“Our hope is that CancerIQ can increase access to specialty cancer care at a fraction of the cost,” said Olopade. “By reducing disparities in cancer care, we can reduce disparities in outcomes – a huge challenge for us here in Chicago and around the world.”
