They include Cedars-Sinai Accelerator, DigitalHealth.London and Launchpad Digital Health
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.
Here are some of the accelerators targeting digital health companies:
"The Cedars-Sinai Accelerator is transforming healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market."
Investment amount: $100,000 in funding
Program benefits:
- Cedars-Sinai’s clinical expertise in a wide range of areas, including in our 12 nationally ranked specialties
- Information infrastructure including hardware, software and digital health technical resources. The deep expertise of our IT team recently led to Cedars-Sinai being named a Top 10 Most Wired hospital
- Mentorship from world-leading physicians, researchers, healthcare professionals and executives
- Dedicated office space located in the Cedars-Sinai Innovation Space, adjacent to the medical center in Los Angeles
- Our international network of healthcare entrepreneurs and investors, in addition to being part of our alumni community of healthcare entrepreneurs
- A package of perks and benefits from our partner organizations, focused on helping you grow and scale your company
- Demo Day, where each company will have the opportunity to pitch their company to healthcare leaders, investors, press, and other community members
Mentor makeup: Tom Priselac, Mark Gavens, Ed Prunchunas, Shlomo Melmed, John Jenrette
Portfolio companies: ALIS Health, CardioCube, COO Digital Medical Tech Digital Medical Tech, kēlaHealth, MedPilot
"DigitalHealth.London’s Accelerator aims to speed up the adoption of technology in London’s NHS, relieving high pressure on services and empowering patients to manage their health."
Investment amount: The Accelerator can connect companies to relevant funding opportunities, but does not provide direct funding.
Program benefits: If your company is seeking engagement and traction within London’s digital health eco-system, taking part in the Accelerator programme can support you with opportunities to connect with NHS stakeholders, industry investors, patients, and other healthtech innovators.
Mentor makeup: Dr. Harpreet Sood, Dr. Ian Abbs, Pam Garside, Dr. Partha Kar
Portfolio companies: Affigo, Circular Wave, medCrowd, Inhealthcare, mumoActive
"ActiveLab is a bespoke 12-week accelerator programme of fast-track support to develop, connect and scale the best and brightest physical activity businesses. ActiveLab will promote, foster and accelerate cutting-edge innovation in health and physical activity from the UK and across the globe."
Investment amount: Not specified
Program benefits:
- EDUCATION: Scale focused sessions, Strategic Development, Sector Insights
- NETWORKING: Access to experts, Innovation Network, Account Management
- EXPOSURE: Brand Visibility, Marketplace Awareness, Events Involvement
- RESOURCES: Workspace Partner Opportunities Alumni Support
Portfolio companies: Find a Player, Fit Link, School of Calisthenics, Front Page, TopYa
"In the last 5 years, not only have we brought our approach to many other countries, we’ve developed programs like our G4A Accelerator, programs to strike deals with leading innovators through our Dealmaker, and offered places to work and network. For us, every program and chapter unlocks its unique potential by focusing on different topics and markets."
Investment amount: Not specified
Program benefits:
- Workspace
- Mentorship
- Meetups and networking opportunities
- Access to Bayer experts
- Financial awards
- Promotion
- Partnerships
- Bayer as your customer (Dealmaker and Generator programs for mature companies and startups)
Portfolio companies: MediKeep, Viomedo
"We provide an immersive program for entrepreneurs desiring to pressure-test and expand their early-stage businesses. The goal of this program is to give participants the tools to build a company that can successfully complete institutional seed funding."
Investment amount:
Program benefits:
- Access to workshops and training sessions on digital health topics such as MVP, product/market fit, go-to-market strategy, assessing the competitive landscape, scaling, and exit strategies.
- Structured mentoring with the LDH partners and healthcare/IT advisors based on their needs. Companies also have access to our corporate partners with experience in healthcare, strategy, scaling, accounting, risk management, and legal services.
- Co-location for two co-founders with us in our SF digital health hub for at least a month during the program to allow for maximum collaboration and benefit.
- While the Ground Zero program is curriculum-based, we still want you to be able to do the most important thing: run your business
Portfolio companies: CME Hub, Thrivors, Selectivor, AuubDire, wemby
"Startupbootcamp Digital Health Berlin is now entering its 3rd cycle, and is one of the most serious health accelerators in the continent. How, you ask? The program is supported by major pillars of healthcare, Sanofi, Munich Re, Berlin Institute of Health, Deutsche Apotheker- und Ärztebank, Vilua and legal support via Dentons. This means you will be plugging into their expertise, exposure channels, APIs and unparalleled access to their deep digital health network of industry professionals from around the world. That, along with support of 150+ industry mentors make the program a solid launchpad for fast-growth early stage startups."
Investment amount: Not specified
Program benefits:
- Expert-led sessions covering all scaling fundamentals from business model canvas, to business development and fundraising
- Collaborate deeply with leading corporates in your industry to secure customers, pilot projects, and partnerships
- Unmatched access to a global network of mentors, corporate partners, industry experts, and alumni across 40+ countries
- Over 150 carefully selected mentors from the digital health industry who provide hands-on support and valuable introductions
- Free coworking desk space at the dynamic Startupbootcamp Digital Health Berlin offices for your entire team during the 3-month program
- €15,000 in cash per company provided to cover living expenses so teams can commit 100% of their time to the program
- Huge benefits with exclusive partner deals from leading technology providers such as Amazon, SendGrid, and others
- Continued post-program support far after the 3-month program ends through annual alumni events, deals and tailored introductions
- Exclusive exposure opportunities to take part in leading digital health conferences and events as exhibitors and speakers
- Direct access to meet the most active angels and VCs investing in the digital health industry from around the world
- A day to celebrate your achievements during the program with 400+ mentors, corporate partners, investors and press attendees
Mentor makeup: Axel Roselius, Bettine Gola, Pablo David Rojas, Ralph Arnold
Portfolio companies: Torafugu Tech, Hedia, BreakBox Aurora, Jommi, InsightMedi
"We believe that young innovative health tech companies hold immense potential and deserve their own dedicated program to accelerate their success. Startup Creasphere provides startups with a platform to cover exactly this need, to receive business development opportunities with leading corporations, capital, mentoring, workshops, office space (optional), and access to our global network."
Investment amount: Our check size typically ranges between $25K – $500K with a median investment size of $100K. We are mostly a seed stage & Series A investor but are open to participating in Series B and later rounds. Each of our investments occur on a case by case basis and we do not have a cookie-cutter model for investment in our batch companies. Our objective is to invest in at least 1/3 of the companies that are accepted into each batch. There is no equity requirement to participate in the program, all we ask for is your engagement!
Program benefits: Startup Creasphere provides state of the art office space in one of Munich’s top startup clusters, including any other infrastructure such as meeting spaces, event area, kitchen, meeting rooms of different sizes and of course internet access. All drinks and coffee are free.
Mentor makeup: Markus Pratschke, Olga Katzelnik, Marion Lepmets, Chris Leiter, Alfred Dietel, Olga Katzelnik
Portfolio companies: Cosinuss, Infermedica, SmarCardia, Veta Health
"The Tigerlabs Accelerator is a 6 month program based in Princeton, NJ investing in early stage software companies across a broad range of sectors including digital health, financial services, Internet of things, advertising and media, education and enterprise."
Investment amount: $25,000 up front with $50,000 in additional matching capital
Program benefits: 6 months of shared office space in our expansive coworking facility in downtown Princeton; a host of perks from our roster of partners
Portfolio companies: Eko, FlavorTech, Mapsaurus, Panther
"Our focus within the Accelerator is advancing product-centric innovation across a range of health tech platforms, with a variety of complementary physical and digital technologies. Our world-class resources are highly sought after among seasoned healthcare entrepreneurs and the leading technology transfer programs of major Midwestern universities."
Investment amount: Not specified
Program benefits:
- Product development services at a significantly discounted rate
- Expert mentoring the appropriate product development to commercialization processes
- Office, lab and meeting spaces and extensive infrastructure support such as IT and admin services at no cost
- Additional support services, including legal assistance, on a deferred-fee basis
- Assistance and support in grant and award applications as needed
Portfolio companies: Not specified
"XLerateHealth offers an intensive 12-week training course that connects your startup to world-class Mentors and leading health and wellness companies in the United States. Participants will have continued exposure to potential customers, partners, and thought-leaders. Our Mentors are the backbone of our program and offer a network that can dramatically impact the trajectory of your business. The program is a combination of classroom time, one-on-one sessions with Mentors, and focused customer discovery."
Investment amount: Not specified
Program benefits: XLerateHealth’s Mentor base, our access to customers and pilot sites, and our extensive experience in building successful startups makes our program a leader among healthcare accelerators. You should apply to XLerateHealth because our focus is on getting you face to face with customers as quickly as possible. You will leave this program with much more than a pitch deck — you’ll leave XLerateHealth with a viable business.
Mentor makeup: Adam Wilson, Bill Dawson, Dave Kennedy, Greg Murdock
Portfolio companies: Airis Health, MendUX, Innovative Therapeutix, Pahoola, Medic Air
"Nex Cubed’s Digital Healthcare Accelerator is a bespoke, semi-remote four-month startup accelerator focused on supporting technically, clinically and operationally talented Founders with Healthcare Subject Matter Experts (SME’s) that work with your team on a daily basis to drive commercial adoption of Digital Healthcare Solutions fueled by Data, Analytics, AI, ML, AR, VR, Blockchain, Computer Vision and/or IoT."
Investment amount: We have the following standard terms: $25,000 in exchange for 6% common stock. In exceptional cases, we may deviate from this, but for the majority of the time, these are the standard terms.
Program benefits:
- Access to Nex Cubed resources for life
- Office space at 325 Pacific Ave (the Sway Ventures office) on a full-time or as-needed basis
- $125,000 worth of customized consulting help from dedicated advisors who have started, exited, and run multiple startups and completed engagements for over 230 startups ranging from Series A to IPO
- Over $1+ million worth of discounts/services from service providers (hosting credits, travel, tech services, law firms, accounting firms etc). This is a lifelong membership so you have access forever through an online portal
- Large network of highly successful mentors and professional investors, coupled with a loyal and active startup alumni base
- Lifetime support and access to the Nex Cubed ecosystem
- Exclusive access to the GAN discounts and upgrades from more than 50 top providers as well as connections to the world’s most respected accelerators and organizations in support of the startup industry
Portfolio companies: None yet
"A Growth-Focused Program for Digital Health, Medical Device, and Diagnostic Startups"
Investment amount: Upon joining the program, startups provide Dreamit with the following:
- The right to invest up to $500K in your next round of funding at a 20% discount to the terms set by your lead investor. For example, if your next funding round is a $5M financing at a $15M pre-money valuation, Dreamit would have the right to take up to 10% of the round ($500K) at a $12M pre-money valuation (20% discount).
- A $50K Convertible Security that will convert into your next round of funding with no discount. To be clear, this is not a cash investment in your company. In essence, this is a program fee to help us cover a portion of the program costs. Continuing with the example above, this $50K would convert at the $20M post-money valuation ($15M pre-money + the $5M raised), making it worth just 0.25% of your startup’s outstanding equity. Other than the Convertible Security mentioned above, there are no additional costs for companies to participate in the program. However, founders must cover their own travel costs for the Investor Sprint and Customer Sprint program.
Program benefits:
- Designed for Startups with Revenue or Pilots: Focus is on scaling, customers, and capital, not on building your product.
- No Large Upfront Equity Required: We get the right to invest in your next round.
- No Need to Relocate You’re busy building your company. Stay where you are.
Mentor makeup: Bob Baurys, Steve Berman, Kate Hermans, Eric Sugalski, Deborah Zajac
Portfolio companies: Wellth, Eko, Fellow, Yosi, Somatix, Keriton
"The Science Center’s Digital Health Accelerator (DHA) supports digital health companies ready to transition from research and development to sales. The DHA provides selected companies with funding, collaborative workspace, professional mentorship, and introductions to key healthcare stakeholders and investors in the Greater Philadelphia region. Participating companies accelerate from prototype development to customer acquisition. DHA curriculum matches companies to professionals with specific skills to help companies meet their individual milestones."
Investment amount: Up to $50,000 cash in operational support, to go from research and development into sales
Program benefits:
- Access to lab and incubator space at the Science Center in Philadelphia
- Guidance in developing relevant business opportunities in the Greater Philadelphia market and beyond
- Warm introductions to appropriate decision makers within your target market
- Expert feedback and recommendations for company presentations and materials
- Mentorship to complement expertise and operational gaps
- Support and advice on capitalization, attracting investment, and increasing revenues, customized to each company
- Introductions to the appropriate advisors, mentors, consultants, and support
- Access to investors
Portfolio companies: CareCierge, ImmERge Labs, LIA Diagnostics, PainQx
(Image source: phassociates.com)
Steven Loeb