EIT Health Catapult is boosting European startups for growth

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The deadline is fast approaching for applications to EIT Health Catapult. European startups wishing to participate in the training programme and competition tackling biotech, medtech or digital health have only two weeks to apply. 

The sixth edition of the programme, which is run by EIT Health and Franco-German clusters, is an accelerator that provides support and visibility to high potential healthcare startups in Europe in front of leading experts and investors.

EIT Health provides a gateway to help startups to navigate the market for funding and connect with potential customers. 

EIT Health is a pan-European collaboration platform that brings together 150 partner organisations to answer some of the biggest health challenges facing Europe. This one-of-a-kind partnership is transforming the way healthcare is delivered, reaching across Europe’s leading healthcare companies, big industry, research and universities and investment partners.

The last year has proven the need for further innovation in the health space. Therefore, EIT Health Catapult is aimed at assisting health startups working on new innovative technologies to improve the way healthcare is delivered for patients. This one-year programme seeks to boost companies to take the next step towards pan-European exposure with a tailored approach to mentoring and support.

Participants will meet with industry executives and investors to refine their business plans, improve their pitches and connect them with potential investors and partners. Some of the previous winners include Sparing Vision in 2019, which went on to raise €44.5 million from investors shortly after completing the programme. 

Taking part in the Catapult programme fast-tracks startups with the skills, knowledge and contacts from EIT Health’s community. Equally, investors involved in the programme get an early glimpse of innovative startups at a relatively early phase of their journey and have the opportunity to back winners at the earliest stages. 

“The Catapult has a great training [programme], far beyond any programme I have participated in,” said Pau Rodriguez, the CEO of Methinks, which won the digital health category in last year’s programme. 

“If there is one event you should apply for in Europe, it is definitely this one. But the most important is the awareness, as several funds reached out to me after winning the competition”. 

Over the years, 189 startups have taken part in EIT Health Catapult and more than 400 investors and 2,500 healthcare professionals have been involved.

Applicants must be based in the EU (or H2020 associated countries) and searching for seed or series A funding. They must be self-valued at a €1 million minimum and have received at least €500,000 in public or private funding or generated €500,000 in revenue in the last year.

At the end of the programme, prize money and in-kind sponsor prizes worth up to €1 million are up for grabs.

Finalists in each category (biotech, medtech and digital health) will be showcased at the EIT Health Summit as they go head-to-head for their share of the €210,000 investment prize (€40,000 for first place, €20,000 for second place, €10,000 for third place) as well as support from sponsors like Nasdaq or Amazon Web Services which have joined the Catapult Prize Alliance. The winner of the Audience Award category will be displayed on the Nasdaq Tower in Times Square, New York. 

The deadline for applications is March 16. Click here to apply.

EIT Health Catapult 2020 from EIT Health on Vimeo.

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