Applications open for groundbreaking accelerator that hopes to find the next health start-up “unicorn”
A week after it was announced that the UK is home to more billion-dollar technology companies (“unicorns”) per capita than anywhere else in the world, a global health accelerator has announced that it is returning to the UK to search for up to 15 fast-growth start-ups and scale-ups within the health and medical sectors.
The GM Future of Health Challenge accelerator – run by tech investment and accelerator specialists UP Ventures delivered in partnership with Novartis, Push Doctor, Google, The Landing at MediaCityUK, Salfold Royal NHS Foundation Trust, Salford Digital, Health Innovation Manchester and Apadmi – is now open for applications from health technologists and entrepreneurs.
The first Future of Health accelerator, ran in partnership with PwC in 2017 was deemed a huge success; with every participating firm securing investment or new business opportunities off the back of the 12 week programme. Investment in the cohort companies ranged from £500k – to £17 million.
This year’s 12-week accelerator commences on 10th September and will be held at dedicated technology hub, The Landing at the heart of MediaCityUK.
The programme is designed to help up to 15 fast-growth start-ups and scale-ups within the health and medical sectors to drive innovation, create new business opportunities, attract investors and have an impact on the lives of residents in the Greater Manchester area.
It includes a comprehensive package of Masterclasses, coaching, mentoring, introductions and pitching opportunities. Companies taking part will also be provided with help setting KPIs aligned to increasing revenue growth and advised how to secure market traction through engagement with corporates and commissioning bodies.
Participating companies will enjoy executive-level introductions through an extensive network of thought leaders, industry executives and HealthTech specialists. Those taking part will also have the opportunity to pilot their new technologies, and pitch their proposition, to healthcare organisations and potential investors.
Programme partner Google has further enhanced the offering with a series of awards available for the participating companies with the leading start up being given the chance to win $100,000 in Google cloud credits, including access to Google Healthcare APIs and expert support and technical enablement through architecture and design sessions.
Paul Billington, managing director at The Landing said: “This really is a game-changing accelerator if you are a start-up or scale-up in the healthcare space. The Landing has developed a specialism in digital health and we are fully geared up to help drive this programme. Applicants are welcomed from the local area but given that the last cohort included companies from London, Cambridge and Sydney, we are also excited to welcome businesses from further afield to join us this year.”
Danny Meaney, CEO of UP Ventures said: “This is a fantastic opportunity to gain unrivalled access to the HealthTech ecosystem through our close partnerships with industry, the NHS and intelligent, engaged investors. Unlike other accelerators, our programme is free for participants. We’re not looking for cash or equity – just highly committed teams with the potential to really make an impact.”
Karen Fox, Strategic Partnerships Lead for Novartis said, “At Novartis, we are committed to reimagining medicine for the benefit of patients and crucial to this is how we work with digital technology and data science. We want to work smart and innovatively to deliver meaningful results. The best way to achieve this is to work collaboratively with innovative companies. This partnership offers Novartis an opportunity to not only establish a strong presence in, and bring value to the field of health technology but also learn from and collaborate with entrepreneurial partners to rapidly test and validate potential new solutions, ultimately delivering innovations with the potential to reimagine medicine with data and digital.”
To apply to the GM Future of Health Challenge accelerator: https://www.upventuresgroup.com/liveprojects/futureofhealth/
Deadline for entries is 18th July 2019, successful applicants will be notified by 20th August 2019 and the programme begins on the 10th September 2019.