Rahul Varshneya is the co-founder of Arkenea LLC, a mobile app consultancy helping healthcare and fitness tracking startups in creating experience-rich mobile apps. Subscribe to his free email series on growth hacking mobile apps for distribution.
The rise of popularity in health, medical and fitness tech has everyone wanting a piece of the action. New fitness wearables continue to frequently hit the market, Apple has built a HealthKit ecosystem and Google had made inroads through its Google Fit platform.
Many startups have attempted to enter this new market, but few are able to secure the funding needed to successfully bring them to market. If you need help raising funds for your mobile health business, here are eight resources to get you started.
A San Francisco-based accelerator, Rock Health provides early stage startups with funding and support. Startups receive up to a $250,000 investment from the Rock Health Fund, in addition to $35,000 worth of goodies, services and discounts from Apple, SalesForce, and more.
The accelerators take place in Boston, Chicago, Florida, London, Nashville and Salt Lake City, with applications for Boston and London still open. You can expect to raise a seed round of up to $50,000 from Healthbox.
Blueprint Health is based in New York City and offers a three-month intensive program that includes access to capital, clients and mentors. You get $20,000 in cash, office space and a dedicated community to help you succeed. Blueprint’s network includes ZocDoc, ShapeUp, Misfit, WebMD and more.
Applications for 2015 are now open.
Once accepted to the program, startups go through a 24-week program with services investment to the value of $75,000 along with seed funding of up to $75,000. Located in Indianapolis, Infuse may not be the location you dreamed of starting your business, but there’s plenty of room to focus and create a startup scene within Indiana.
Another New York City-based accelerator, Pilot Health Tech provides funding of up to $100,000 each to 10 pilot projects taking place in the 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 four to nine months.
NYDHA accepts about eight to ten growth-stage digital health companies that are developing tech products for healthcare providers and patients into its five-month Accelerator class.
The program will provide $100,000 in up-front funding per company from a syndicate of venture capital and strategic investors. The companies will also have access to a leadership program with participation by a network of successful entrepreneurs, as well as access to the Statewide Health Information Network of New York (SHIN-NY).
This accelerator and seed fund targets companies/startups 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 $50,000 minimum, with six months in incubation period. The company also offers a collaborative office space in Manhattan.
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.
So far, 71 companies that have passed through this academy have raised more than $148 million collectively in seed, Series A and Series B rounds of funding. And half of the companies have raised more than $1 million.
Any more resources you’d like to share? Let’s hear them in the comments below.