Winners of the Annual Shark Tank Competition receive a comprehensive support package to help implement their quality improvement projects for one-year (July – June). This package includes:
1. Stipend Award: Winning team will be awarded $4000.00 from the DOM to assist with project support. These funds are restricted to all the rules of spend through the CU School of Medicine and may not be used for faculty salary support. Stipend awards may be used towards project tools and materials, data and analytic support, conference fees (if presenting SharkTank program project), article processing charges, project related incentives, meetings, or other things to support the project. The funds may not be used towards protected additional time for the recipients or personal electronics (i.e., laptop, smart phone, desktop). The award needs to be used by the end of the academic year (June 30, 2026).
2. Coaching: Winners receive guidance and mentorship from experienced quality leaders. This coaching helps refine project goals, strategies, and implementation plans.
3. Data Prioritization: The winning projects are given priority access to relevant data through the Department of Medicine, ensuring that the necessary information is available to support project development and evaluation.
4. Analytics Development: Winners receive support in developing and utilizing analytics to measure the impact of their projects. This includes assistance with data analysis and interpretation to demonstrate project outcomes.
5. Increased Visibility and Sponsorship: Winning projects gain increased visibility within the health system and DOM. This exposure helps garner additional support and resources, as well as recognition for the project's contributions to high-value care. This also includes executive sponsorship from the health system where the project will be enacted.