Coronavirus: Public Health Nightmare and Innovation Opportunity?

Everybody is freaking out over COVID-19 (Coronavirus). Being a true innovator means being a problem solver and optimist. You have to be able to see the opportunity in the madness. Are you up to the challenge?

Here’s five things to consider:

1. The Actual Virus

The Center for Disease Control is the authorized source of information for all things COVID-19. Please check the website for actual information and guidance for what to do to protect yourself from the virus.

Here’s a summary:

• Have supplies on hand (more about this below)
• Avoid close contact with people who are sick
• Take everyday preventive actions
• Practice good hygiene and wash your hands a lot:
• Clean your hands often with soap and water for at least 20 seconds, especially after blowing your nose, coughing, or sneezing, or having been in a public place.
• If soap and water are not available, use a hand sanitizer that contains at least 60% alcohol.
• Don’t spread germs (avoid touching high-touch surfaces in public places – elevator buttons, door handles, handrails, handshaking with people)
• Avoid touching your face, nose, eyes, etc.
• Clean and disinfect your home to remove germs
• Avoid crowds, especially in poorly ventilated spaces.
• Avoid all non-essential travel.
• Stay home as much as possible.
• Determine if you are a high-risk population (elderly and/or existing health issues)
• Have a plan for if you get sick (Hospital or Recover at home).  

2. The Response

The Federal government, state and local governments, companies, organizations, institutions, universities, and other non-government organizations are taking actions in response to the seriousness of the coronavirus situation.

A.     The President of the United States addressed the nation at 9 PM Eastern Time, March 11, 2020 about his administration’s response to the COVID-19.  

• In his address he outlined the following measures that were to be effective at a particular date and time upon his authority or upon subsequent Congressional approval:
• Travel restrictions: Friday at midnight, all travel from Europe to the United States - with the exception of the U.K. - will be suspended for the next 30 days including travel restrictions for Americans coming from Europe "who have undergone appropriate screenings."
• Paid sick leave: Plans to use emergency action and presidential authority to provide financial relief to workers who are quarantined or caring for others due to coronavirus. Needs Congressional support via legislative action.
• Small business loans: Via the Small Business Administration, the administration will provide capital and loans to businesses affected by coronavirus, effective immediately. Needs Congressional support for additional $50 billion to help those businesses hardest hit by economic uncertainty over the virus.
• Deferred tax payments: Treasury Department will defer tax payments without interest or penalties for certain individuals and businesses negatively impacted.
• Payroll taxes: Pushing Congress to provide Americans with payroll tax relief immediately. 

B.    On, March 11, 2020, the Director-General of the World Health Organization (WHO) officially announced the coronavirus is a pandemic. This is something every intelligent person must actually take time to consider and take action in response to before it’s too late.

The coronavirus has spread across more than 100 countries now qualifying the virus as a global pandemic according the World Health Organization official announcement.

Read the full transcript of the opening remarks here.

Read the World Health Organization guidelines on the coronavirus here.

C.    Countries are being shut down. State and Local Governments are taking action.

ITALY IS SHUTDOWN. On March 10, 2020, the Italian Prime Minister Giuseppe Conte stated, “We are out of time...We have to stay home.” His words initiated the most severe restriction on freedom and movement imposed in Italy since the World War II. Italy’s entire population of 60 million people now have their movements monitored and limited as the country tries to stem the coronavirus outbreak.  

Governor Andrew Cuomo has established a coronavirus containment area in New Rochelle, New York. This is getting closer and closer to your and my doorstep.

COUNTY OF SANTA CLARA ISSUES ORDER TO CANCEL MASS GATHERINGS DUE TO INCREASING RATES OF COVID-19

The County of Santa Clara Public Health Department continues to work closely with healthcare providers, hospitals, and its partners to address novel coronavirus. The department is taking action to protect the public and keep the community informed.

Governor Inslee of Washington State has announced they are limiting social gathering of over 250 people. Measures are put in place to protect the high-risk population.

Workers are being told to work at home. Federal workers are experiencing increased teleworking as a preventative measure for coronavirus. This is a different kind of shutdown for government workers.

What happens if you can’t afford to work at home? Many of the workers and small business owners who make up a large part of our economy cannot.

D.    Colleges and Universities are making big moves. 

John Hopkins University suspended classes for undergraduates until April, starting spring break early. Classes will resume remotely using online learning tools.  

Ivy League schools have told tell students to go home, effective immediately and don’t come back after spring break.

3. The Reaction

The economic impact of the coronavirus is vast and it’s just beginning.  

A. Stock market is dropping at the fastest rate since 2008.

B.     Airlines losing $113 billion in revenue due to cancelled, grounded, and unbooked flights in coronavirus pandemic fallout.

C.     Conferences are being cancelled at an alarming rate.

SXSW has officially announced it will cancel its tech and music conference slated for March 13th to 22nd in Austin, Texas due to concerns around coronavirus, though it’s exploring rescheduling. A scientific coronavirus conference was cancelled over coronavirus.

D.     Major sporting events are being postponed, suspended, and cancelled. The potential for lost revenue is huge.

NCAA tournament to continue without fans.  March Madness may be suspended or cancelled.

NBA mulling over playing games in empty arenas.

Update: at the time of writing, the NBA announced that Utah Jazz player, Rudy Gobert, has tested positive for the coronavirus. In response, the NBA has suspended games on a hiatus after this positive player test.

4. The Social Impact on You & Potential Public Freak-out

Remember the CDC guidance to have supplies on hand to be prepared? You need to be diligent to make sure that happens. You may need to travel around to a few different stores to get your supplies in order.

A.     Some supermarkets are rationing food.

B.     Retail store shelves are bare as consumers panic and purchase supplies at an alarming rate.

5. The Innovation Opportunity

A.     There are over ten thousand patents and published patent applications related to the coronavirus. COVID-19 is a specific new strain of the coronavirus.

B.     The CDC official report states that the virus originated in China. Various news reports are also stating that this strain of the coronavirus originated at a Chinese lab. Other news outlets are reporting this may have started by improper handling of deadly pathogens in a lab environment. Only time and thorough investigation will tell how this actually started.

C.     What we know is that in order to adequately control the outbreak in China, officials were testing cases at a rate of 300,000 a day or more. As was reported by the Atlantic recently, in the United States has tested a little more than 5,000 cases. This site compares how many coronavirus tests per capita have been completed per country.  

D. Due to FDA approval regulations and other bureaucratic red tape, quick and efficient testing for this strain of the coronavirus seems to be a major problem.  

Therein lies the opportunity. If you can figure this out quickly and effectively, it can be a gold mine of an intellectual property opportunity and do tremendous public good for humanity, a win-win for all. Embrace the challenge! 

What can you do to help improve lives in our society in this time of public crisis?

Let us help you bring your idea to life. Schedule an appointment with our team at Patent Insider today!