Choosing the right Digital Health Accelerator can have a huge impact on the trajectory of your business or startup. Accelerators expose your business to an environment rich with expertise, experience and funding, at least the good ones do.
In this guide, I ranked and reviewed the best 7 Digital Health Accelerators, along with my top 3 choices, so that you can pick the best one for you.
When selecting the Best Digital Health Accelerators, it’s hard to know exactly what they offer and whether they’d be a good fit for your company.
These digital health accelerator reviews will give you three simple takeaways:
- How to pick the best accelerator for you.
- What to expect if you join the accelerator
- A first point of contact
Whether you’re just starting a digital health business, or doing some accelerator research, let’s pick the best digital health accelerators that will have the biggest impact to the trajectory of your business
Let’s get started.
What are the Best Digital Health Accelerators?
The best digital health accelerators provide multiple benefits to your business at the pre-seed and seed stages and focus on digital health.
If you’re looking to benefit from an accelerator, please reach out to the one listed here as they can be fantastic longer-term partners.
My top 3 picks are NSF, PharmStars, and Medtech Innovator
Here are my top 7 picks for the best digital health accelerators:
1. National Science Foundation
One of the best-kept secrets in the world of startup capital is the SBIR Grant. The National Science Foundation has billions of dollars it’s congressionally mandated to give away every year to early-stage founders and small businesses. The NSF offers funding for early-stage R&D and takes no equity in your company — you retain full control over your team, the direction of your work, and your intellectual property. NSF helps startups navigate the earliest stages of technology translation, investing roughly $200 million annually in approximately 400 startups. Each startup can receive up to $2 million to support translational research and development. See the Medtech Founder Guide to Securing SBIR Funding.
- Typical Investment Size: $275k-$2m
- Number of Deals Per Year: 200-500
- Top Deal Priority: “We fund companies based on Impact, Technological Innovation, Market Pull, and ability to Scale.”
- Fund Philosophy: “We support research and development of deep technologies – those that are based on discoveries in fundamental science and engineering. As we review applications, we consider your technology’s innovativeness, commercial potential, and possible societal impact”
- Specialty areas: “From advanced manufacturing to artificial intelligence to biological technologies to environmental technologies, we fund nearly all areas of technology”. Note specific funding topics include Digital Health and Biomedical Technologies.
- Past Notable Investments
- Initial Contact: Multiple Program Directors
2. PharmStars
PharmStars is a 10-week pharma-focused accelerator for digital health startups, dedicated to driving digital health adoption to improve patient outcomes. They educate and mentor digital health startups seeking engagement with pharma and biotech firms. They are supported by pharma members who are committed to working with startups that graduate from our accelerator.
- Typical Stage of Companies: Startups should have a prototype or product developed that they are ready to offer pharma
- Program Terms: Equity Free, $2.5k Program Fee
- Notable Program Companies: Nori Health, Liyfe, Prsim Analytic Technologies, Tag.bio
3. Medtech Innovator
The Accelerator commences with the MedTech Innovator Summit in San Francisco in June and concludes in October at The MedTech Conference in Boston. Opportunities include networking, workshops, and pitching to investors, manufacturers, providers. In addition to receiving the above Showcase benefits, Accelerator companies will be assigned mentors from one or more of MedTech Innovator’s corporate partners, receive complimentary AdvaMed Accel membership for 2022, and compete for up to $500,000 in non-dilutive cash prizes and awards including incubator space from Johnson & Johnson Innovation – JLABS.
- Typical Stage of Companies: Early- to mid-stage medical device, diagnostic or digital health companies who have not yet closed a Series B.
- Program Terms: Equity Free
- Notable Program Companies: Cooler Heads, Pops Diabetes Care, Senzo, Tasso, Sana Labs
4. Rock Health
Rock Health exists to accelerate the adoption of cutting-edge digital health innovation. They do this by shrinking the knowledge gap between early innovators and major corporations that are hungry to lead change in healthcare. They are both a fund and an advisory. They are digital health experts whose clients rely on them to provide them with varied perspectives and strategic insights on the healthcare industry—especially about what comes next.
- Typical Investment Size: $500k-$5m
- Number of Deals Per Year: 4-5
- Top Deal Priority: “I look at the founders first: People with unmatched drive to succeed, the confidence to handle adversity, and the humility to learn quickly”
- Fund Philosophy: “We’re more than investors: We’re market makers. Rock Health Capital invests in early-stage innovators while our sister firm, Rock Health Advisory, sits alongside the fund helping Fortune 500 clients develop digital health innovation strategies. No one else has Tom Cassels!”
- Specialty areas: “Software and data-driven business models in healthcare. We don’t invest in services, drugs, or pure-play Dx / medical devices”
- Past Notable Investments: Omada Health, Collective Health
- Initial Contact: venture@rockhealth.com, bill@rockhealth.com (General Partner Bill Evans)
5. Startup + Health
StartUp Health has a unique model for investing designed to support entrepreneurs at any stage of growth (from a fast-scaling company that just raised a Series A round to two doctorpreneurs who are just getting started or undergoing tech transfer). They invest in Health Transformers from around the world (their portfolio spans 27 countries and six continents) and across any of their 12 Health Moonshots.
- Typical Stage of Companies: Pre-Seed, Seed, Series A
- Program Terms: For Seed companies, their standard deal provides each team with a $200,000+ benefit package (which includes a $20,000 cash stipend) for an equity position of 2% using a post-money SAFE
- Notable Program Companies: Hurdle, Gennev, Gabbi, Doctor.com, AdhereTech, Babyscripts, Cecila Health
6. StartX Med
StartX Med is a medical vertical of StartX focused on accelerating the development of Stanford’s top medical entrepreneurs through experiential education and collective intelligence. If your team does not have Stanford-affiliation you are still able to join as a “Visiting Founder”.
- Typical Stage of Companies: Idea and Early-Stage
- Program Terms: Equity Free
- Notable Program Companies: Lark, Remedly, Tombot, Spect
7. National Institutes of Health SBIR
Did you know that the NIH small business programs are the largest source of early-stage capital for the life sciences in the U.S.? These programs set aside over $1.2 billion non-dilutive funds every year — specifically to support small business research and development. See the Medtech Founder Guide to Securing SBIR Funding and SBIR Templates
- Typical Investment Size: $300-$3M
- Number of Deals Per Year: 850
- Top Deal Priority: “We fund companies based on Impact, Technological Innovation, Market Pull, and ability to Scale.”
- Fund Philosophy: “We support research and development of deep technologies – those that are based on discoveries in fundamental science and engineering. As we review applications, we consider your technology’s innovativeness, commercial potential, and possible societal impact.”
- Specialty areas: Life Sciences, Medical, Healthcare Technology, Investigational tools
- Past Notable Investments:
- Initial Contact: Multiple Program Officers
Summary
There you have it. The top 7 Digital Health Accelerators for 2023.
You’re ready to start your fundraising journey armed with a few more insights about the digital health accelerator landscape!
Learn more about making a difference in digital health and which resources might benefit you most – Medtech Founder provides in-depth information that helps you succeed in today’s digital health care.
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