Health tech commercialization group ANDHealth has opened applications for its ANDHealth+ program accelerator program, seeking 5-7 digital health startup.
The program also offers up to $3.75 million in equity-free funding alongside support from a network of experts to help the startups involved scale.
ANDHealth+ is funded by the Medical Research Future Fund (MRFF).
The program provides industry mentoring and support, as well as equity-free project investment across a two-stage investment process. Successful applicants are supported by a dedicated project support team and a panel of senior executives with demonstrated experience in industry areas relevant to digital health commercialisation and market entry.
CEO Bronwyn Le Grice said the program has been “a game-changer” for companies involved previously.
“As of March this year, our first two ANDHealth+ cohorts funded by the MRFF have already raised over $17 million in funding and reached over 200,000 new patients, engaging over 500 new commercial customers in a little over a year,” she said.
“Since the pilot started in 2018, companies have raised a massive $144 million in new funding and generated revenues in excess of $48 million, whilst reaching over 500,000 new patients and supporting the Australian economy.
“If innovators have a proof-of-concept digital health technology which is focused on substantially changing clinical paradigms and improving patient outcomes, ANDHealth+ provides a unique opportunity to access global industry leaders, funding and support which can accelerate commercialization and market entry, and sets companies up for significant success in capital raising and customer attraction.”
Application details are available at andhealth.com.au/our-programs/plus and close in mid-June 2023.