10 startups kick start in international pressure cooker EIT Health LaunchLab
From Germany to Spain, The Netherlands, Greece and The United Kingdom. Ten promising early stage startups in Life Sciences & Health Technology from all over Europe participated in the EIT Health LaunchLab pressure cooker programme in the past two months.
A unique international collaboration between YES!Delft, The TU Delft (Through Medical Delta) and EIT Health, took them on a journey from Munich to Stockholm to kick start their business ideas. On Thursday, exited participants revealed their progress and ideas for better medical care, treatments, equipment, diagnosis and more during LaunchDay.
“Combining the strong networks of Medical Delta and EIT Health with the proven successful LaunchLab programme has resulted in a highly valuable business development method for startups”, says Roel Kamerling, director of Medical Delta, associated with TU Delft. “Some of the most innovative medical startups from all over Europe have participated in this truly unique first edition of the EIT Health LaunchLab. We therefore have the ambition to continue the programme next year.”
Lots of exploring resulted in serious progress for the ten EIT Health teams. From finding valuable mentors to possible customers. During the programme over 350 connections were made to relevant people. Together the teams already signed twelve MOU’s, arranged for six payed pilot projects and collected over 50.000 euro in grants. “During the 8-week programme, the startups had the unique opportunity to pitch their ideas to hundreds of potential customers, clinical experts, industry representatives and investors”, says Dr. Kurt Höller, Director of Business Creation at EIT Health Headquarters. “Thanks to their questions and advice, the startups learned to sharpen their arguments and give tailored answers to customers’ needs. During all the discussions, they also learned which business model would be the most effective in the near future. Not only in their home countries, but all over Europe too. That’s a real competitive advantage that, besides EIT Health, no other startup programme in Healthcare can offer.”
Over the past two months, the ten selected EIT Health LaunchLab teams went on a journey through the Dutch Medical Delta region (a cluster of life sciences, health and technology organisations in the Delft-Leiden-Rotterdam-area) followed by medical organisations in Germany, France and Sweden. The teams tested the riskiest assumptions about their business models, validated solutions to problems and searched for the right market fit. “LaunchLab is a tailored programme developed by YES!Delft for (aspiring) entrepreneurs to explore business opportunities”, says Pieter Guldemond, Managing Director of YES!Delft. “In just two months’ time, participants not only know whether their business model looks good on paper, but also if it responds to the needs of the market.”
And the winners are… After a heated round of pitches at YES!Delft on Thursday (see all teams in the attachment) both the LaunchLab jury and audience chose their winners. Somnox (Netherlands), a ‘soft’ and cuddly robot that helps you sleep got the most votes from both. The startup recently won the James Dyson Award 2016 for their unique design. But there were more promising pitches, therefore Tubulis Technologies (Germany) was also announced as winner. This company enables next-generation cancer treatment by providing the ‘molecular glue’ that connects cancer-sensing antibodies with chemotherapeutic drugs (Antibody Drug Conjugates) in order to improve treatments. Both companies will visit a special EIT Summit in Barcelona to further kick start their ideas.