Opportunity to apply for EIT Health for Product/Market Fit Funding

Posted on 16 February 2017 (Permalink)

Entering a new market as a health start-up requires correct market insights, knowledge of regulation, adequate contacts and a possible re-fit of your product and/or business model to the necessities of that market. Going on your own as a startup, requires a lot of resources, time and money.

As part of its Accelerator activities, EIT Health provides funding for emerging companies and SMEs to develop new products and services for areas of interest to EIT Health and its members. The purpose of the funding is to accelerate market entry and create new economic activity.

EIT Health Accelerator is offering startups a quick market scan in the United Kingdom, as well as Spain, Germany, Belgium, the Netherlands and France. Some e-health companies will be able to benefit from a fully funded product/market fit worth €25,000. The information you acquire will give you actionable insights and be of tremendous value for your company, to convince investors in the next funding round and to further explore or discard possibilities on a certain market.

Companies need to be at the right maturity stage and must fulfil a couple of basic requirements to profit most from the product/market fit service. We require your company to:

  • be a digital health company (ehealth, mhealth, clinical decision support, Big Data and even medtech, lifetech and biotech firms that have a digital component)
  • be established in Europe
  • have a technologically innovative product
  • have a minimum viable product
  • have a maturity of advanced seed stage or preparing Series A
  • have at least a first paying customer in your home country
  • own the intellectual property rights or have a license to use them
  • be not older than three years at the moment of submission.

Each company may state two countries of preference at the time of submission and must have received a support letter from a local incubator, tech transfer office or investor. You can download the Call for Application here.

Proposals must be submitted using the online application form here. A video pitch of up to five minutes will need to be provided as part of the application process. In order to be eligible, proposals must contain all the required information and be completed via the online application form.

The deadline for submissions is 4pm CET on 31 March, 3pm in the UK. For more information, go to the EIT Health website