Accelerators targeting precision health companies

They include Kraft Precision Medicine Accelerator and Inova Personalized Health Accelerator

For startups, there are numerous paths for getting their name out there. One way, which Vator has been covering recently, are startup competitions, but another popular method to get a foot in the door, as well as some funding and traction, are accelerators. These are programs that provide companies advice, guidance and various forms of support for startups in their early stages. They also often invest in the companies, for a certain equity stake.

Need a list of startup competitions, challenges, accelerators, etc. from around the world? Check out VatorX. You can find them, or list yours!

There are some very well-known accelerators out there, including Y Combinator and 500 Startups, which have made their names through various successful alumni. Those programs fairly general, accepting companies from a variety of different spaces. 

For some companies, it may help to join an accelerator that only focuses on their specific area. That's especially true for those in more specialized spaces, which will have their own unique challenges and regulations.

On September 27, we will be holding a salon, in conjunction with HP, where we take a deep dive into precision health. Precision health encompasses precision medicine. What is precision medicine? It’s a move toward tailored and personalized medicine vs a one-size-fits-all approach. Precision health is more about disease prevention and detection. It’s about providing targeted, predictive and preventative care. 

Here are some of the accelerators that are focused specifically on mentoring companies in the precision health space:

• Kraft Precision Medicine Accelerator

"The Kraft Precision Medicine Accelerator recognizes the need for leadership in order to realize the potential of precision medicine. Our mission is to develop open-access models for the entire cancer ecosystem to follow."

Investment amount: Not specified

Program benefits: 

• We commission studies to provide a comprehensive look at what exists, what gaps remain, and what needs to be built.
• Rigorous analysis of the landscape surfaces the roadblocks to progress and gives us a starting point.
• Multidisciplinary experts with a reputation for getting things done attack the problem and develop actionable steps to affect immediate change.
• Publications and executive training create the greatest impact and allow rapid adoption.

Portfolio companies: None yet

• Inova Personalized Health Accelerator

"IPHA is the Inova Health System’s accelerator program for the next generation of companies that deliver on the promise of personalized health."

Investment amount: Not specified

Program benefits:  

• Product validation
• Customer acquisition
• Capital planning
• Investor development
• Talent recruitment
• Board development
• Regulatory & quality compliance
• Reimbursement strategies
• Clinical evaluation

Mentor makeup: Our mentor community consists of experienced health system executives, medical practitioners, medical researchers, health sciences angel and institutional investors, technology services executives, legal and financial professionals and successful health sciences entrepreneurs.

Portfolio companies: Not specified 

• Aspire Ventures Precision Medicine Fund

"Aspire Universal and Penn Medicine Lancaster General Health (LG Health) have partnered to launch a unique $300 million impact fund to fast-track precision medicine technologies and practices that leverage AI and IoT to deliver affordable, individualized solutions at a massive scale. The unique fund aims to dramatically accelerate ventures by leveraging shared strategic resources, IP, and accelerator programs for R&D, clinical trials, insurance reimbursement, and health system adoption. "

Investment amount: Not specified

Program benefits:  Not specified

Portfolio companies: None yet

(Image source: financialtribune.com)