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We talk to startups and investors, you get the value.
Acceleration programs usually specialize in a specific field and it is a perfect choice for startups at Pre-seed and Seed stages, who want to be presented to a wide network of business partners. Accelerators indicate the right direction for the project development, organize mentoring sessions, seminars and transfer valuable knowledge that is necessary for the further growth of various aspects of a startup, such as sales, marketing, business model and others. In addition, accelerators are an opportunity to receive funding.
The creation of digital medicine products stands at the intersection of fundamental medicine and technology and requires not only experience and knowledge of the technical development aspects but also the involvement of healthcare professionals in the creation of such products, which means special mentoring support.
Today, we are going to talk about the most famous accelerators in the MedTech area and we will also talk about successful implementation cases and the role of accelerators in the development of this area.
Cedars-Sinai Accelerator is a three-month acceleration program located in Los Angeles, providing companies with funding up to $100,000, mentoring from more than 300 leading clinicians and healthcare leaders, experienced entrepreneurs, other industry consultants and healthcare investors.
The most important advantage of the program is access to all aspects of the healthcare system. This access can help companies learn how to get a product to market, build a realistic business model and understand the difficulties of technical integration.
The most valuable program components:
Mentorship. Companies are represented by key healthcare executives and physicians. Mentors work with companies on a weekly basis to help them figure out how their products will integrate with the healthcare system in the best possible way.
Technical access. Each startup, as a participant of the acceleration program, gets access to the Cedars-Sinai Accelerator’s IT team, which helps the startup in solving the technical aspects of the project.
Product testing. Companies can get the opportunity to test their product in the Cedars-Sinai Accelerator and thereby adapt it.
Adaptation to the needs of the healthcare system. Each company receives an individual approach based on the needs of the market, which allows you to properly adapt the product to specific needs.
G4A Bayer is a German acceleration program, led by Bayer, a pharmaceutical giant; it was launched in Berlin in 2013 to fund mobile healthcare applications. G4A is committed to helping digital health startups seeking funding and partnerships. The Bayer G4A program has created an extensive digital health partnership network with more than 150 companies. The total amount of funds raised amounts to $71.6M and the total cost of the graduates of the program is $122M.
Launchpad Digital Health is a leading accelerator that works with startups at the early stages of development in the field of digital healthcare; it also invests in Seed and Series B stages.
Each startup that is accepted to the program receives:
investment possibilities: from $1M at the Seed round and $2—3M at the Seed A and B rounds;
the duration of the program is one year, which provides more intensive interaction with the founders, partners and mentors of Launchpad Digital Health accelerator.
The accelerator focuses on startups that work in the following areas of digital medicine:
healthy lifestyle, patient medication compliance (adherence to treatment or in other words, the degree of compliance with the implementation of medical recommendations);
remote diagnostics and monitoring;
electronic circulation of medical records;
medical data analysis solutions.
Accelerator Labs for Biotech Startups | JLABS is a global network of innovative ecosystems that enables startups in a wide range of healthcare, including the pharmaceutical industry and medical equipment, to create and develop the provision of life-saving solutions to improve the health and treatment of patients around the world.
In addition to the acceleration capabilities of the program, JLABS is part of the large Johnson & Johnson group of companies, which includes: JNJ Innovation innovation centres with doctors and researchers helping startups at early stages; JJDC, Inc. venture capital division and Janssen Business Development, a business development group specializing in the later stages of startup development. For startups, this means that no matter at what stage the project is, JLABS provides access to all the elements necessary for the complete development of a startup.
New York Digital Health Innovation Lab is an annual program for growing companies that have developed cutting edge technology products for healthcare organizations. The Partnership Fund for New York City and the New York eHealth Collaborative started the program in 2013 and since then 27 companies have graduated and raised more than $250M in total.
Rockstart Health is an acceleration program that provides access to healthcare experts, mentors, investors and helps prepare startups for global scaling.
The crisis and pandemic have brought many benefits, from treating diseases to new diagnostics through artificial intelligence, allowing greater access to health care. With broad access to a network of hospitals, research institutions and investors, Rockstart Health has created a platform for innovative healthcare startups that are driving positive change in the digital medicine industry.
Digital Health Berlin — Startupbootcamp is a three-month acceleration program providing access to key German health experts: Sanofi in Deutschland, Munich Re, Berlin Institute of Health: Charité – Universitätsmedizin Berlin, Vilua Healthcare GmbH, Deutsche Apotheker- und Ärztebank — apoBank, and Dentons, who provide legal support.
provide robust evidence of the concept;
develop a plan for aclinical checkup;
actively interact with corporate clients for pilot projects;
create an investment strategy.
The main focus of the startups:
solutions for pharmacies;
diagnosing rare diseases.
Startup Creasphere is a 3-month acceleration program in Munich created by Roche Deutschland and Plug and Play in 2018. The Accelerator connects startups with industry-leading corporate partners to pilot their technologies and achieve the ultimate goal of "Transforming HealthCare Together".
XLerateHealth is a 12-week accelerator targeted at startups of the full spectrum of digital health technologies: telemedicine, mobile healthcare and others; They also help startups to build their commercialization strategy at an early stage.
Nex Cubed is a 4-month startup acceleration program that connects founders with healthcare experts who work with the team on a daily basis to drive commercial adoption of digital healthcare solutions in the fields of Data, Analytics, AI, MR, AR, VR, Computer Vision, IoT.
Healthtech Program — Dreamit Ventures is a venture capital fund with an acceleration program, which is included in the Top 50 best startup accelerators in the world. This program is specially designed for startups with a market-oriented product and is aimed primarily at helping financially. The accelerator brings together startups with leading healthcare experts, insurance companies, pharmaceutical companies, and medical device manufacturers.
HEALTH HUB VIENNA is a platform for innovative healthcare startups that brings together pharmaceutical companies, medical device manufacturers, private and public insurance companies, healthcare providers and startups. HEALTH HUB VIENNA gives a possibility of accelerating certification processes and compliance (e.g. data protection) processes for certification centres and medical device registrations, which are currently slowing down the accreditation process for startups in the life sciences, digital health and medical technology and healthcare innovation in general.
DayOne is an accelerator in the field of digital healthcare innovation, operated by the Basel Area Business & Innovation nonprofit organization, which is supporting innovative startups across a wide range of healthcare fields, from diagnosis, treatment and prevention, communication with patients and caregivers, to solutions that directly support healthcare professionals.
DigitalHealth.London is an accelerator that was founded in 2016 with the aim of creating a vibrant digital health market in London to support the implementation of high-potential solutions in the NHS (National Healthcare Service). Within its framework, there were implemented a number of programs:
Launchpad is intended for companies at the earliest stages of development;
Generator was developed in 2018 as an expert network for supporting cooperation between scientists and digital healthcare companies;
Digital Pioneer Fellowship is the major program that was founded in 2018, which is intended to support innovators, manage and realize projects and launch the transformations process at the local level.
In addition to programs, DigitalHealth.London holds regional and international acceleration programs, events that are aimed to transform the healthcare area and supports investments firms’ projects.
BaseLaunch is a leading accelerator and centre for life sciences, located in the Basel region of Switzerland and home to Roche and Novartis, two of the world's largest pharmaceutical companies, and Actelion, which is now part of Johnson & Johnson.
The Basel District is a hub of innovation with a lot of small and medium-sized biotech companies, world-class research institutes, venture capitalists, and technological parks. The tightly intertwined academic and biopharmaceutical environment supports the flow of innovation in the local environment, which is also reflected in significant venture capital investments of over $2.5B over the past few years. Together with the region's huge talent reserves and Switzerland's business-friendly economic policies, the Basel region is a perfect environment for biopharmaceutical startups.
Open Accelerator is an Italian accelerator created in 2016 with financial support from Zcube, a research company of Zambon Group, the chemical and pharmaceutical concern; it is focused on a wide range of digital health startups: healthy lifestyles, prevention, diagnosis, monitoring and patient routing.
Acceleration takes 4 weeks, and upon completion, the best projects can receive investments up to €100,000. During the program, participants receive intensive training, support from international experts, specialized mentoring, legal services, business consulting from Deloitte and technical support from Zambon. The cost of all the services provided by the program for each startup is estimated at about €25,000.
EIT Health was created in 2015 as the “community of knowledge and innovation” at the European University of Innovation and Technology.
The accelerator is designed for entrepreneurs, startups, small and medium-sized enterprises specializing in medical, biotech and digital technologies, and allows you to reduce the time to enter the market. Through a network of world-class healthcare organizations, the EIT Health accelerator connects entrepreneurs with the knowledge and resources to scale as quickly as possible.
Since the launch of the EIT Health program, more than 740 startups from all over Europe have gone through the accelerator and there were raised more than €205M of investments.
Healthinc is a 12-week accelerator, founded by the Amsterdam Institute of Health and Startupbootcamp, that targets startups in telemedicine, drug delivery, health trackers, reproductive medicine, maternal health and management of a chronic disease.
MedTech Innovator is the largest accelerator of medical devices in the world and it works with scientific enterprises from the USA, Europe and Asia.
Although MedTech Innovator is focused on medical devices as one of the most active participants of the industry, it also works with startups in the fields of BioTech, AI, diagnostics with the aim of bringing together the leading players in the innovative healthcare ecosystem.
Since its foundation in 2013, MedTech Innovator has released 340 companies, which subsequently received $2B in funding and brought 74 products to the market.
Resourses: vestbee.com, startupcreasphere, Digital Health Today, cipherbio.com, StartUp Health — health transformer, European Institute of Innovation & Technology (EIT).