The Entrepreneur’s Journey…
…is a very tough one.
You have to keep working on your ideas; put a solid team together; refine your processes, and look for financial resources.
Most entrepreneurs do not have the financial resources to bring their ideas to life; they also may not have the connections, intelligence, mentorship, and network needed to sustain a business. This is where Accelerators and Incubators come into the picture.
Accelerator Vs Incubator
“Learning by doing is inefficient […] Part of the power of the accelerator is that it’s a constrained period of time. You’re not trying to incubate your business, you’re trying to accelerate your time. In three months, you’re getting two or three years of learning about your company.” –
Brad Feld, Venture Capitalist
Often used interchangeably, these two terms are actually very different.
Accelerators are for already established ideas that have a strong team and at least an MVP [Minimum Viable Product]. While incubators on the other hand tend to focus on helping entrepreneurs refine and build their ideas.
“Accelerators are right for startups that are ready to scale, not startups engaged in customer development and trying to find product-market fit.”
SOURCE.
What does an incubator do?
“Startup incubators help entrepreneurs refine business ideas and build their company from the ground up.”
MassChallenge.
What about an accelerator?
“Startup accelerators provide early-stage companies that already have a minimum viable product (MVP) with the education, resources and mentorship needed to promote what might otherwise be several slow years of growth into a few short months.”
MassChallenge.
We have put together a list of digital health accelerators that help digital health/health tech entrepreneurs take their ideas to the next level.
If you know of any digital health accelerator that should be on the list, kindly let us know in the comment section.
Cedars-Sinai Accelerator
“The Cedars-Sinai Accelerator is transforming healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market. This three-month program, based in Los Angeles, California, provides companies with $120,000 in funding, mentorship from more than 300 leading clinicians and executives, access to Cedars-Sinai, and exposure to a network of over 10,000 entrepreneurs and investors.”
Bayer G4A
“Bayer G4A is a global program that offers support to startups and companies that are developing innovative solutions in health and care. They provide: places to work, mentors and experts to guide companies with business development, financial support, and networking opportunities through extensive corporate and healthcare networks.”
Launchpad Digital Health
“Launchpad Digital Health is the most active early-stage venture capital firm in digital health. We are passionate about supporting digital health startups through our deep segment expertise and expansive network of insurance companies, health systems, pharma, government agencies and technology business partners. We invest in Seed-Series B stage companies.”
JLABS’
“JLABS’ vision is to provide a capital efficient and flexible platform where emerging companies can transform the scientific discoveries of today into the breakthrough healthcare products of tomorrow. To accelerate scientific discovery, business, financial and operational obstacles need to be removed so that companies can do what they do best, focus on the science and bringing innovative solutions to patients.”
New York Digital Health Accelerator
“The New York Digital Health Innovation Lab is a collaboration between the Partnership Fund for New York City and NY eHealth Collaborative. The Lab ran five accelerator programs between 2012 and 2017 for growth-stage digital health companies developing cutting edge IT solutions for major providers and payors. The 27 companies selected for the Lab were chosen by our provider and payor partners to participate in the program. Each winner then received product feedback and mentoring from senior executives at participating companies, as well as from the Lab’s network of venture investors, sponsors and advisers.”
Rockstart Digital Health Accelerator
“Rockstart Digital Health Accelerator provides an unparalleled access to the healthcare ecosystem, capital, coaching and investors for entrepreneurs who are looking to change the way things are done in healthcare. It is more important than ever that entrepreneurs establish a feedback loop with these players early on and get crucial inputs on their products/ideas. Rockstart helps prepare startups for global scaling.”
Startup Bootcamp Digital Health Berlin
“Startup Bootcamp Digital Health Berlin is now entering its 3rd cycle and is one of the most serious health accelerators in the continent. The program is supported by major pillars of healthcare, Sanofi, Munich Re, Berlin Institute of Health, Vilua, Deutsche Apotheker- and Ärztebank, Vilua and legal support via Dentons. This program will grant you access to their expertise, exposure channels, APIs and unparalleled access to its deep digital health network of industry professionals from around the world.”
StartUp Health Moonshot Academy
“StartUp Health Moonshot Academy is a one-of-its-kind program providing entrepreneurs with the long-term coaching, support, and access they need to succeed. Through a unique combination of coaching workshops, peer community, a crowd-sourced investor and customer network, market intelligence, powerful promotion channels, and online collaboration tools, StartUp Health Moonshot Academy empowers startups to become powerful magnets to continually attract the right team, customers, investors, and partners.”
Startupbootcamp Digital Health Miami
“Startupbootcamp Scale Digital Health Miami is a scaling program designed to help growth-stage healthcare companies to acquire customers, increase revenues, and access funding opportunities. The program offers a customized approach, addressing the specific needs of the startups through mentoring, masterclasses and connections to our network of resources and partners.”
Tigerlabs Accelerator
“The Tigerlabs Accelerator is a 6-month program based in Princeton, NJ. Participating companies receive $25,000 up front with up to $50,000 in additional matching funds. They become a part of a mentorship program, gain access to decision makers at leading corporations, are housed for 6 months in a shared office space, and receive a variety of perks from Tigerlabs’ partner organizations.”
Insight Accelerator Hub
“For decades, we have helped our clients discover, innovate, and develop new product solutions through a user-centered design approach. Insight’s heritage has always been to collaborate with our clients in the development of new solutions that utilize our team’s diverse yet collaborative development expertise. We believe this ability to pivot from opportunity identification to commercialization has been our sustained strength and contribution to our clients success.”
XLerateHealth
“XLerateHealth is enterprise-focused and helps early-stage healthcare companies build out their commercialization strategy, which includes their intersection with Payers, Providers (hospitals, ACOs, nursing homes, home health, and group practices), and customers (employers and/or consumers).”
Nex Cubed’s Digital Healthcare Accelerator
“Nex Cubed is a global accelerator that invests in diverse founders that are solving problems that matter.
We provide early-stage capital, corporate relationships, and access to a global ecosystem that empowers startups, investors, corporates, and governments to bring new technologies to market, help rising companies scale, and provide paths to liquidity – the power of three.”
Dreamit HealthTech
“Dreamit is a leading venture fund focused on startups with revenue or pilots that are ready to scale. Dreamit specializes in startups building transformative companies in Healthtech and Securetech. Founders meet with dozens of potential customers and partners on Customer Sprints® and pitch leading venture firms during Investor Sprints®. Since its founding in 2008, Dreamit has partnered and helped grow over 320 startups, including LevelUp (acquired by GrubHub), Trendkite (acquired by Cision), SeatGeek, HouseParty (acquired by Epic Games), Elevate, Adaptly (acquired by Accenture), Wellth, Biomeme, Tissue Analytics (acquired by Net Health), Redox, Eko Devices, NestEgg, Cherre, Cylera, RaySecur, SpecTrust, and Cloud Defense.”
Health Hub Vienna
“Health Hub Vienna is a platform for open innovation that actively promotes change in the European healthcare system. We discern gaps in healthcare and provide a collaborative and innovative environment for pharmaceutical companies, medical device manufacturers and private and public insurance companies, amongst others, to connect with StartUps and with each other. Health Hub Vienna will catalyze innovative and cutting-edge solutions by bridging the connection between problem identification and solution integration. We bring together stakeholders of the healthcare system, connecting them through active matching, network access, events, and trainings for information transfer.”
DayOne
“DayOne, the Healthcare Innovation initiative managed by Basel Area Business & Innovation, builds a strong ecosystem, supporting collaboration and innovation. The DayOne Accelerator supports promising ventures that combine groundbreaking technologies, healthcare expertise and entrepreneurial spirit. We look for innovative ventures that solve problems across a broad range of healthcare areas that will help shape the future of health.”
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We are putting together a list of “Digital Health Accelerators in Africa.” If you are an African healthcare entrepreneur who wants to take your idea to the next level, you should take a look at that list when we publish it.
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