Virtual Accelerator 2016 Class 1

 

(16 week one on one intensive + 10 month follow up support)

WHAT IS IT?

The LiftOff Health Virtual Accelerator is a 16-week intensive program followed by a 10 month follow up support program run by a full-time, team dedicated to help each selected company. Startups who are selected will be able to participate virtually from anywhere in the world. Regional events will also be held for in-person networking opportunities. The purpose of the program is to enhance entrepreneurial skills and activities, create jobs and assist in the expansion and growth of the healthcare business eco-system.

The program is a unique combination of Personalized Mentorship, Education, and Real World Experiences. Leveraging the LiftOff Health classes and networks, participants will benefit from the knowledge and expertise of key industry leaders and renowned entrepreneurs. Furthermore, mentors can offer access to a wider network of contacts that could significantly accelerate a company’s development in just 16 weeks.

NO NEED FOR RELOCATION DURING THE PROGRAM

NO EQUITY REQUIRED TO PARTICIPATE IN THE PROGRAM

Successful applicants will receive:

    •    Personalized mentorship from entrepreneurs and specialists in healthcare

    •    Additional support from leading industry experts

    •    State of the art virtual work space for all the startups accepted into the program

    •    Access to new markets through the the LiftOff Health worldwide network    

    •    Access to key expertise in marketing, strategy, funding and networks

    •    Access to funding at exclusive demo days

    •    Be plugged in to the LiftOff Health payer, provider, investor, healthcare professional eco-system

    •    Resources like free software, cloud services and joint marketing exposure to help startup to grow their business

    •    10 months business support from LiftOff Health and its

 

WHO CAN APPLY

We are seeking ambitious startup companies from across the world with an innovative healthtech proposition. If you are passionate about improving the lives of people through medical, lifestyle, and health monitoring technologies and believe you can bring in a new era of healthtech innovation, we want to hear from you!

The types of teams we are looking for include:

    •    remote medical solutions involving imaging, voice and sensor technology

    •    technology-related products for healthcare providers

    •    care-provider communication and coordination

    •    client/patient monitoring solutions

    •    predictive analytics

    •    workflow and enterprise management

 

FREQUENTLY ASKED QUESTIONS

What types of business is the Accelerator focusing on?

We are looking for healthcare technology-focused startups with a passion for innovation and lots of creativity, who share our revolutionary vision.

How are the final companies chosen? What is the criteria?

Innovative, tech-savvy companies with cutting-edge concepts that could take healthcare into a new dimension.

Will LiftOff Health take equity from my company?

We do not take equity in the startup as part of the application of the program. At the end of the 16 weeks supporting system and accelerator provided by LiftOff Health, we will arrange a pitch event to introduce the startup to the investment world. At this point LiftOff Health may also offer to invest in the startup.

What role is LiftOff Health going to play in the Accelerator?

LiftOff Health is committed to supporting entrepreneurs and startups. We will provide mentorship from carefully selected business leaders and entrepreneurs to help you develop your business. These mentors will be able to give you unparalleled advice in marketing, PR, pitching and more, to help you accelerate your company's development.

What are the networking and educational opportunities provided during the program?

You'll be surrounded by like-minded entrepreneurs and teams. This will give you an excellent opportunity to build strong working relationships, learn from others' experiences and share your own. We will also provide access to the calendar of educational workshops happening online and across the world.

Will all the mentors come from LiftOff Health itself?

Some will, but the majority will be a network of entrepreneurs and business leaders throughout the world.

What if my company is not an expert at developing healthtech solutions?

We're not looking for experts, just creative startups with a visionary attitude and inspiring ideas. You'll get access to LiftOff Health’s experts in the field. All we ask is that you're capable of building your own solution, have the drive to make it happen, and are focused on the potential of your startup.

What size company is LiftOff Health focusing on for this program?

We're focusing on startups, so these tend to be small businesses or individuals, though there's no limit on the size of the company applying. We're particularly interested in healthcare solutions that can be quickly brought to market and ready for beta testing or launch at the Investor Demo Days.

Does my business need to be a B2C or B2B business?

It can be either.

How does the application process work?

Interested startups can apply online through our dedicated application page.It includes a few simple questions about your company and your team. You'll have the opportunity to include a video that describes your business.

How detailed does my idea need to be in the application?

In this initial application process, we ask applicants to describe market opportunity, the team, the concept that you want to take forward and how you plan to execute it. The more information you provide, the easier it is for us to assess the full potential of your business.

Do I need to send in a business plan?

No, just complete the online application.

Is my age a factor in your selection process?

No.

When is the deadline to apply and what's the overall tim

Is there an equity stake component for participation in the program?

There will be a warrant system in place allowing both LiftOff Health to potentially invest in a startup later. This also means that you'll be part of the extended LiftOff Health network and will always be able to benefit from the business opportunities this presents. 

How can participants receive funding after the LiftOff Health Accelerator ends?

You'll have the opportunity to showcase your products and services at Investor Demo Day, where a range of potential investors, who may include venture capitalists and influential industry leaders, will see your proposition and listen to your pitch.

When is the Investor Demo Day and who will be invited?

The Investor Demo Day will be in August 2016. This will be by invitation only. We'll invite key people from our strong network of industry leaders, investors, venture capitalists and press.

What will a typical day be like for a LiftOff Health Accelerator participant?

We're pleased to say there's no such thing as a typical day. Throughout the program, you can expect somewhere in the region of 100 potential meetings with mentors, venture capitalists, CEOs, innovators and industry visionaries.

What guarantees can LiftOff Health make to companies who get into the program?

LiftOff Health will support companies that are accepted by providing mentors, visibility and engagement around business opportunities that emerge from this program. You'll also have the collective resources of LiftOff Health both during the program and afterwards.

Is a participating company's product or service guaranteed to be endorsed by LiftOff Health?

No, there are no guarantees. It's entirely at LiftOff Health's discretion as to whether a participating company's product or service is taken on and endorsed by LiftOff Health.

What are the costs of participating in the program?

For all selected companies, there is a: $1,500 program fee payable at time of selection. (That comes out to less than $100 per week!)

What is LiftOff Health?

LiftOff Health is the leading global virtual health innovation accelerator platform in the world. Providing expertise and support to entrepreneurs, empowering startups throughout the world with a wide range of services. 

How to get in contact?

If you have questions about the program, please do not hesitate to contact the LiftOff Health team by email at info@liftoffhealth.com

What is covered during the 16 week intensive program?

In addition to being assigned mentors and advisors the curriculum below developed and taught by educators from world class universities.

Week 1-2: Business Basics Overview

  1. Vision and Ideas 
  2. Research and Customer Development
  3. Naming and Positioning
  4. Branding and Marketing
  5. Startup Legal and IP
  6. Mentor Idea Review
  7. Team and Advisors
  8. Product Development
  9. Mentor Progress Review
  10. Sales and Traction 
  11. Revenue Models
  12. Bootstrapping and Fundraising

Week 3: US Healthcare Market Overview

1. Quality, Cost and Access – Triple Aim for US health care

2. Health care stakeholders

3. Current and Future health care reimbursement models

4. Identifying needs in the healthcare industry

Week 4-5: Building a health Care Business Basics

  1. Developing the Customer Value Proposition and Business Model Canvas
  2. Identifying your HC market target
  3. The MVP, pilots, metrics, and ROI
  4. Forming a US business entity
  5. Fundraising
  6. Customer problems and solutions
  7. Business operations and revenues
  8. Critical planning
  9. Business model building blocks
  10. Exercises:  Customer Problems and Business Solutions
  11. Revenue model

Week 6: Trends and Opportunities I

1. Current state of Telehealth in the US

2. Everyone’s got a phone – mHealth and Remote patient monitoring in the domestic market

3. Successful stories of mHealth from around the globe.

4. Everyone wants Patient Engagement – What does it mean?

Week 7: Trends and Opportunities II

1. Medical Device Innovation

2. Big Data and analytics in Health Care

3. Self-tracking and wearables

4. Start up Case studies

Week 8: Governance and Regulation

1. Intro to wireless (broadband networks/personal networks)

2. Federal agencies and associations – FCC, FDA, etc…ONC, MU

3. Privacy and security, HIPAA

4. Cybersecurity in Healthcare

Week 9: Innovation Facilitation

1.Public databases and content

2. Aggregators and APIs

3. Kits and Boxes – Health Kit, Research Kit, Sammy and sandboxes

Week 10-11: Marketing Strategy and Planning

  1. Competitive product development
  2. Market analysis, segmentation, prioritization
  3. The marketing mix
  4. Competitive analysis and advantages
  5. The marketing plan
  6. Exercises:  Marketing mix/Segmented Strategies
  7. Competitive  Strengths and Weaknesses

Week 12: Business Finance

  1. Financial Statements: Critical Management Tools
  2. The fundamentals: Income & Cash Flow Statements
  3. Balance Sheet
  4. Other key items: Capital Plan, 5 year-Model
  5. Sales pipeline, Monthly Cash Flow
  6. Exercises: Reading/Understanding Statements
  7. Capital Planning
  8. Defining outside capital
  9. Capital requirements 
  10. Balancing need/risks
  11. Debt vs. Equity factors and decisions
  12. Capital and ownership
  13. What investors are looking for
  14. Company valuation
  15. Exercises:  Creating a Cap Table
  16. Valuing a Company Pre vs. Post Money

Week 13-14: Pitching to Investors

  1. Pitch objectives
  2. Effective communications (including demos)
  3. Creating your investor pitch (page by page)
  4. Presentation do’s and don’ts
  5. Exercises: Create an elevator pitch
  6. Your 10-12 Key slides
  7. The Due Diligence Process: How Investors will Evaluate Your Business
  8. The Deal Memo
  9. Due Diligence Checklist: What You Must Provide
  10. Independent Research 
  11. The Term Sheet
  12. Exit Strategies:  How and when to sell your start-up
  13. Your investors objectives
  14. Private market valuation
  15. Why sellers sell/Why buyers buy
  16. Aligning interests of management and shareholders
  17. Preparing companies for exit

Week 15-16: Guest Speakers

 

e-mail: partners@liftoffhealth.com with any questions or to become a sponsor