Healthtech commercialization group ANDHealth has opened applications for the ANDHealth+ Program Accelerator Program, which is seeking 5 to 7 digital health startups.
The program provides up to $3.75 million in equity-free funding, along with support from a network of experts to help the involved startups scale.
ANDHealth+ is funded by the Medical Research Future Fund (MRFF).
The program not only provides industry guidance and support, but also invests in non-equity projects through a two-step investment process. Successful applicants will be supported by a dedicated project support team and a panel of senior executives with experience in industry areas related to digital health commercialization and market entry.
CEO Bronwyn Le Grice said the program was “transformative” for the companies previously involved.
“As of March this year, the first two MRFF-funded ANDHealth+ cohorts had already raised over $17 million, reached over 200,000 new patients, and reached 500 companies in just over a year. We have won more than 100,000 new commercial customers,” she said.
“Since piloting in 2018, the company has raised a massive $144 million in new funding, generated over $48 million in revenue, and simultaneously acquired more than 500,000 new patients, supported the Australian economy.
“When innovators have proof-of-concept digital health technologies focused on changing clinical paradigms and improving patient outcomes, ANDHealth+ is a global industry leader, able to accelerate commercialization and market entry. It provides a unique opportunity to access funding and support, and companies will be very successful in raising capital and attracting customers.”
Application details are available at: andhealth.com.au/our-programs/plus and closed in mid-June.