Competition to improve life for sufferers of illness

Pharmaceutical company backs innovation prize

Photo: Pixabay Who knows where the next medical innovation will come from? AbbVie is looking for a few good ideas.

Photo: Pixabay
Who knows where the next medical innovation will come from? AbbVie is looking for a few good ideas.

Rasmus Falck
Oslo, Norway

The pharmaceutical company AbbVie and Driv Incubator on the riverside in Drammen recently launched a competition for good ideas that can improve the life quality for people living with an illness. The idea must have a future market potential. The winner will receive a grant of 150,000 NOK and 200,000 worth of advice in developing the startup. The four best business ideas will be invited to take part in a workshop at Oslo Innovation Week.

AbbVie is a global biopharmaceutical company with focus and capabilities to address some of the world’s greatest health challenges. The company discovers, develops, and commercializes advanced therapies that have an impact on people’s lives. They believe in open innovation. AbbVie was separated from Abbott in January 2013.

Technology has become a powerful change agent for healthcare, disrupting traditional models, enabling new ideas, and ultimately driving better patient outcomes. Signs of this disruption are already visible. Venture capital funding in digital health is skyrocketing, the millennial generation is making the leap from being tech-savvy consumers to being empowered patients, while a growing number of policy initiatives are encouraging the use of technology to transform how we access, pay for, and evaluate healthcare. Technology has the power to dramatically improve outcomes and propel healthcare into the future. The implications are tremendous.

The company understands that addressing the world’s health challenges requires a comprehensive and responsible approach. They go beyond medicine, not only developing innovative therapies, but also using their resources to improve healthcare and communities. Therefore they are committed to holding themselves to the highest standards of honesty, fairness, and integrity. Employees, partners, and suppliers are treated with dignity and respect. Suppliers are expected to understand and comply with their guidelines, and the company is committed to having business relationships with suppliers who share their dedication to conducting business in a legal and ethical manner. The company is committed to collaborating with healthcare professionals to improve patient health across the globe. The information exchanged through these relationships has led to newer and better therapies and, most importantly, enhanced care for patients.

According to the chairman and CEO, they put patients first. This has resulted in treatments for neglected tropical diseases, broadened support for patient education groups, and expanded access to the company’s medicine. And they go about it in a transparent and sustainable way!

This article originally appeared in the Oct. 16, 2015, issue of the Norwegian American Weekly.

Avatar photo

Rasmus Falck

Rasmus Falck is a strong innovation and entrepreneurship advocate. The author of “What do the best do better” and “The board of directors as a resource in SME,” he received his masters degree from the University of Wisconsin-Madison. He currently lives in Oslo.