The healthcare industry is ripe for disruption. With high costs, lack of transparency, and redundant processes, it’s no surprise that the industry is struggling to keep up with demand. And as new entrants and technology companies continue to emerge, there’s never been a better time for startups to enter the industry.
If you’ve read our other articles about startup accelerators here on StartupHeadway, you know how important it is to have an support system when building your business.
Top Healthcare startup accelerators just that by providing you with access to mentorship, investor connections and resources in exchange for equity or partnership in your company. There are a lot of healthtech accelerators out there who want to be part of what you plan on building; trust that they will also want in if they see potential in your business model too.
In light of accelerating so many different industries from FinTech and SaaS to Supply Chain and Logistics as well as retail and hospitality, we decided it was high time we took a look at how some of the top healthcare startup accelerators work.
How Do Healthcare Startup Accelerators Work?
Healthcare startup accelerators vary significantly depending on the industry they specialize in, but they all serve one thing in common: to help startup founders navigate through the sometimes overwhelming process of growth and raising capital.
Healthcare, as a field, is no different than most others, and accelerators work off of the same model. They are like “boot camps” for entrepreneurs, but with a much more serious focus on mentorship and getting your product to market.
In order to accelerate a startup, you first have to find one that’s right for your company. There’s no “one size fits all” solution. You want an accelerator that’s right for your company’s stage, your industry, and your company’s finances.
Once you’ve found one that seems to fit all three criteria for your particular needs, you’ll want to make sure you’re reading all of the details about the program.
Here are some things you’ll want to make sure to ask:
- How much equity will I get?
- How much time will I get?
- What kind of mentors will I have access to?
- What events will I have access to?
- What investors will be present at these events?
You can read more details of what criteria you should consider when approaching accelerators in this blog post.
Below we list top 10 best healthcare startup accelerators in the world.
1. Accelerator Life Sciences Partners (Washington)
Accelerator Life Science Partners, an accelerator program that gives biotechnology firms the ability to influence the future of medicine and healthcare, is our first choice on our list of the best startup accelerators in the US for health technology.
Their accelerator program aims to cultivate businesses by offering a comprehensive toolkit stocked with commercial, academic, and financial resources.
The chosen entrepreneurs are given the essential information they need to advance from the concept stage to the production stage and ultimately improve global health.
Founders have access to a network of industry experts, top research institutes, and elite investors thanks to Accelerator Life Sciences Partners. The network supports the development of ground-breaking biotech businesses by scientific visionaries.
2. Base Launch (Switzerland)
Base Launch, based in Switzerland, is a 13-week, full-stack accelerator that also focuses on life sciences startups. They have partnered with several large institutions like Roche, Novartis, and Roche Ventures to provide seed funding to startups.
Top-tier biotech accelerator BaseLaunch is located in Europe and generally accepts start-up businesses engaged in therapeutic endeavors.
BaseLaunch has secured over $450M in funding since its founding in 2018, with an average series A fundraising of $30M per firm.
We collaborate with researchers and business owners to establish and expand extraordinary biotech businesses that are creating ground-breaking treatments.
Any early-stage businesses, researchers, scientists, and entrepreneurs are welcome to apply for their grant and expand their businesses over the course of three years before being launched onto the larger Swiss market.
3. Blueprint Health (NY)
In Soho, New York City, Blueprint, as one of the leading healthcare startup accelerators, is a three-month startup accelerator that focuses on the healthcare industry.
A group of healthcare entrepreneurs known as Blueprint Health is working to create the next wave of healthcare IT businesses.
Startups are required to donate 6% of their participation fees to the accelerator. Additionally, when businesses acquire money from outside investors, they get access to 1:1 mentoring sessions, networking opportunities, and support for Demo Day preparation.
You must have faith in our ability to contribute $100K to $200K of value to your business if you believe it is worth $3M to $5M (the normal startup valuation at the seed round).
Since its inception, Blueprint has accelerated over 90 firms, of which 80% are still operating and more than ten are already bringing in $1M or more in annual revenue.
4. BioAccel (Arizona)
A US business accelerator in health technology with a focus on biomedical firms and entrepreneurs is called BioAccel.
A nonprofit corporation, BioAccel, as one of the top healthcare startup accelerators in the US, was founded to offer capital and commercial know-how for the development of early-stage life science inventions.
Through two distinct programs, the accelerator program aims to promote economic growth by commercializing bioscience devices and technology.
The Technology Advancement Program assists business owners and founders with funding and mentoring to finish proof-of-concept projects (POCs).
Entrepreneurs that have moved past the proof-of-concept stage can get seed funding through the New Venture Development Program. In fact, the funding program pays for beginning costs and gives businesses the equipment they need to function.
Selected businesses receive up to $100,000 in early-stage investment.
5. Bayer Grant4Apps (Germany)
Berlin-based Grants4Apps Accelerator, as one of the best healthcare startup accelerators in Europe, is a mentoring program for businesses in the field of digital health.
They are looking for startups that have moved past the ideation stage and are creating IT or health technology solutions that connect and empower patients or other stakeholders in the healthcare industry.
You can nominate any integrated next-generation technology that helps with adherence, diagnosis, therapy control, or prevention.
They believe that digital health can contribute to the sustainability of our healthcare systems. Digital health has the potential to save lives, reduce healthcare costs, and extend its reach beyond what is possible with traditional healthcare services.
Through the Bayer G4A Partnerships Program, they have partnered with more than 150 digital health businesses to date, resulting in more than 30 direct collaborations that have helped to advance and promote collaborative health care.
6. Cambia Grove (Washington)
The Cambia Grove incubation program makes investments in businesses devoted to modernizing the healthcare industry. A schedule for innovators has been established by Cambia Grove, where founders can network and gain community knowledge.
National thought leaders are invited into the incubator program to engage the participating founders in discussions about healthcare-related topics.
In order to give potential businesses access to real-world testing and implementation inside the healthcare system, Cambia Grove puts the entrepreneurs through the TRAILS competition.
Roundtable discussions are another feature of the program, when participants discuss various topics related to the healthcare industry. Co-working spaces are available to participants.
7. Moebio (Spain)
At the nexus of technology, life sciences, health, and business, Moebio is a disruptive talent development effort that consists of a number of training programs to encourage innovation and entrepreneurship.
It has the following initiatives:
d·HEALTH BARCELONA: A full-time postgraduate program called Design Health Barcelona is training up upcoming innovators in the healthcare industry.
Participants in the Stanford University-developed bio-design approach go through the whole innovation cycle, from developing a viable business idea via clinical immersion in leading hospitals to designing and prototyping a workable solution and looking for funding.
CRAASH BARCELONA: This three-month program supports research teams in Catalonia in launching successful device, diagnostic, and e/digital health innovations to enhance patient care and health. Through coaching from professionals at CIMIT (Boston), the most seasoned health accelerator in the world, teams bring research to market.
8. Health Hub Vienna (Austria)
Without a doubt, Health Hub Vienna is one of Europe’s top HealthCare startup accelerators and Austria’s top healthcare startup accelerator.
It was established more than 15 years ago and provides support for startups and founders as well as unmatched access to prominent industry experts and businesses for prospective funding or paid contracts.
AstraZeneca, Novartis, and Sanofi are just a few of the notable corporations that support Health Hub Vienna.
But in reality, their accelerator program is done in collaboration with Inits, one of the top startup accelerators in Austria.
Additionally, be aware that the accelerator seeks firms that are prepared for business with:
- A proven business plan
- 8–10 people minimum in teams
- Early momentum
- A minimum $1 million in first funding
9. MATTER (Illinois)
Health technology firms at all stages of development are the focus of Matter, a leading healthtech accelerator in Chicago.
Their six-month incubation program makes team-based coaching and one-on-one business mentoring available. Matter does not collect equity from the entrepreneurs it supports, in contrast to the majority of incubators.
Through their fundraising activities, startup owners are given individualized support. Additionally, they receive carefully chosen introductions to decision-makers and investors in every area of healthcare.
Portfolio firms can also meet with potential strategic partners, showcase their technology, and talk about possible pilot projects. A compelling company plan that Matter can accelerate is required for founders to be accepted into Matter’s startup acceleration program.
10. MedTech Innovator (California)
The 2013-founded MedTech Innovator accelerator program, as one of the best healthcare startup accelerators in california, targets early to mid-stage startups operating in the diagnostic, medical device, and digital health industries.
The 25 participating companies in this program have access to special courses, networking opportunities, manufacturers, investor pitches, etc. Leaders in the industry provide tailored mentoring to each participant.
Naturally, everyone who attends is eligible to take part in the Accel Leadership Seminar and the MedTech Innovator Showcase. Additionally, they have the opportunity to showcase their goods and services during The MedTech Conference finals.
Conclusion
Healthtech startup accelerators are popping up all over the country and the world. They offer a unique opportunity for founders to accelerate their growth and find new markets for their products.
These healthcare startup accelerators are proven models that have been successful at helping entrepreneurs build successful businesses. Whether you’re looking to access funding, learn from experts, or have your business come to market, they’re all great places to start.
These programs aren’t easy to get into, and they’re not for everyone. They require a lot of diligence and a long-term goal of solving a problem in the healthcare industry.
If you’re ready to see what it takes to get into one of these programs, you’re ready to accelerate growth.
