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Business Concept Competition -- April 2014
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Medical Challenge Leads to Winning Business Concept

Posted on Friday, April 11, 2014 [1:11 AM]

Business Concept Competition -- April 2014
LWC students Renan Serafim, center, and Loren Cerafice took first place at the
third-annual LWC Business Concept Competition for their "Medicine Tracker" idea.

 

COLUMBIA, Ky. -- Renan Serafim came up with an award-winning idea when his girlfriend had surgery.


Serafim, an LWC business major from Sorocaba, Brazil, created a design for the "Medicine Tracker." The design calls for a device that is a smart bracelet that reminds patients when to take their medicine and it also stores medical information, which can be retrieved via a USB plug.


Serafim's "Medicine Tracker" took first place Thursday at the third-annual LWC Business Concept Competition, coordinated by the LWC Center for Entrepreneurship and held in Norma and Glen Hodge Center for Discipleship. A total of 63 LWC students made up 23 teams who competed for the best business concept.


Serafim had the idea for the design for the device after helping his girlfriend, LWC student Loren Cerafice of Claremont, Calif., recover from surgery earlier this semester.


Cerafice went from taking three medicines a day to more than a half-dozen after she developed an allergic reaction to one of the medications. Cerafice said it was difficult to keep track of when to take each dose. Had it not been for Serafim's help, Cerafice said she might not have taken the right medication because she was often fatigued from the surgery.


"We needed something to keep track of her medicine, and we didn't have anything," Serafim said.


After Cerafice recovered, she and Serafim turned his idea into a business concept, which they hope will attract investors.

 

When it's time for the patient to take medicine, the bracelet vibrates and displays the medicine it is time to take. The bracelet also has a button that allows the patient to call an ambulance. Emergency could locate the caller through a GSP embedded in the bracelete.


In addition to first-place honors, Serafim received $1,000 for the winning idea. A $500 award was given to the overall second-best idea, and three $100 prizes were awarded for overall presentation, creativity and potential demand. The event's sponsor was Don Franklin Family of Dealerships.


Serafim said he plans to use the money to take his concept to potential investors in the healthcare industry.


"It's not only about the money, but for me it's about getting the experience -- not only presenting something but generating ideas," Serafim said.

Watch ...
LWC students Renan Serafim and Loren Cerafice discuss their "Medicine Tracker" idea.

 

 

 



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