8 Healthcare Funding Sources for Mobile Healthcare Startups
According to Mercom Capital Group, the majority of consumer-centric healthcare funding in the second quarter of 2014 went into the mobile health category ($401 million in 45 deals), and within mobile health, $129 million went to 23 companies developing apps, and $226 million went to 17 companies developing wearables.
No wonder then, there are a number of healthcare startups that have come up covering the entire spectrum across health, medical and fitness industries. Few have successfully landed funding to create and market their product but many are still at large looking for money to help them get by their initial period of traction.
Here are all the healthcare funding sources that you need to raise funding for your mobile healthcare company.
Rock Health: A San Francisco-based accelerator, Rock Health provides early stage startups with healthcare funding and support. Healthcare companies receive funding up to a $250,000 investment from the Rock Health Fund, apart from $35,000 worth of goodies, services and discounts from Apple, SalesForce, etc.
Healthbox: The accelerators take place in Boston, Chicago, Florida, London, Nashville and Salt Lake City, with applications for Boston and London still open. Healthcare companies can expect to raise a seed round of up to $50,000 from Healthbox.
Blueprint Health: Applications for 2015 are now open. This accelerator is based in New York City and offers a 3-month intensive program that includes access to capital, clients and mentors. You get $20,000 in cash and over $70,000 in perks, office space and a dedicated community to help you succeed.
Infuse Digital Health: Once accepted to the program, healthcare companies go through a 24-week program with services investment to the value of $75,000 along with seed healthcare funding of up to $75,000.
Pilot Health Tech NYC: This is another New York City-based accelerator that provides healthcare funding of up to $100,000 each to 10 pilot projects that will take place in the New York City. The program seeks to match early-stage health or healthcare technology companies with key NYC healthcare service organizations and stakeholders, including hospitals, physician clinics, payors, pharma companies, nursing associations, major employers and retailers. Each pilot project will test a technology prototype in a healthcare setting for a period of approximately 4-9 months.
New York Digital Health Accelerator: 8-10 growth-stage digital healthcare companies that are developing cutting edge technology products for healthcare providers and patients will be accepted into the 5-month Accelerator class.
The program will provide $100,000 in up-front funding per company from a syndicate of leading venture capital and strategic investors. The companies will also have access to a leadership program with participation by a network of successful entrepreneurs, and they will be afforded access to the Statewide Health Information Network of New York (SHIN-NY).
Welltech Funding: This accelerator and seed fund targets healthcare companies/start-ups that are using technology to create new, consumer-facing health and wellness solutions, from innovative online platforms, services and apps, to consumer tools and products. Benefits include investments of a minimum $50,000 with 6 months in incubation period. They also offer a collaborative office space in Manhattan.
StartUp Health Academy: For entrepreneurs who are transforming healthcare, StartUp Health Academy is a global, long-term coaching program and trusted peer network focused on increasing the equity value of its startups. Entrepreneurs are required to attend in-person quarterly Summits which take place in New York City, San Francisco or Washington, DC, and Cleveland, Ohio. 71 healthcare companies that have passed through this academy have raised more than $148 million collectively in seed, Series A and Series B rounds of healthcare funding. And half of their companies have raised more than $1 million.