Start ups focused on health technologies are being asked to put their hands up for support bringing their innovations to market, with Bayer New Zealand announcing applications are now open for their Grants4Apps Accelerator programme.
Grants4Apps is an open innovation initiative, launched in 2013 as a crowdsourcing programme. It was designed to provide financial support to developers and startups for their software, hardware and technology projects that contribute to improve health outcomes or pharmaceutical processes.
The crowdsourcing programme was expanded with the Accelerator as a new model of open innovation in the digital health field in 2014.
As part of the programme, the Grants4Apps Accelerator offers dedicated office space for five digital health startups with concepts for innovative technology solutions to healthcare problems at the headquarters of the company’s Pharmaceutical Division in Berlin to support them in further advancing their projects and business models.
“Innovation is what drives Bayer and we are keen to support others in developing initiatives that can make a real difference to the lives of doctors and patients,” explains Suzanne Subritzky, Bayer New Zealand Pharmaceuticals Commercial Lead.
“Bayer recognises the creative potential outside the company and believes that combining expertise is key to innovation and success,” she says.
Each startup receives up to 50,000 Euro (roughly $80,000 NZD) as financial support and can stay in the Grants4Apps Accelerator premises for about 100 days. During that time, Bayer offers experienced managers as coaches to the startups, in addition to intensive mentoring by external entrepreneurs.
Subritzky sats the Accelerator creates an ideal environment in which to advance cutting-edge technologies in healthcare and underlines Bayer’s engagement in collaboration with young entrepreneurs.
“Complementing our own capabilities by establishing relationships with excellent partners from science and industry is an essential element of our strategy and one that adds great value at all levels and phases of our business,” says Subritzky.
“The Grants4Apps Accelerator creates an ideal environment to foster digital innovation in healthcare and is an excellent example of our engagement in open innovation,” she says.
Subritzky says the Grants4Apps programme is particularly looking for any integrated next-generation technology that supports patient adherence, diagnosis, therapy management or prevention.
Special consideration will be given to applicants involved in:
• Patient-doctor feedback in the area of women’s health
• Patient engagement in cardiology, oncology, radiology and ophthalmology.
The application process is now open and closes on May 31st, 2016.