How do I find funding for my MedTech project?
A dive into premier accelerators and VC funds in Europe

The digital health sector experienced some turbulence in 2023, with a noticeable decline in funding and deal volume. However, the outlook remains positive. Investors continue to back startups pioneering novel treatment methods and tackling nonclinical workflow challenges. Additionally, corporate funding from pharmaceutical companies has risen, providing crucial support to startups through financing, idea validation, access to resources, and expert guidance. For startups, specialised accelerators and venture capital funds in Europe offer crucial support, helping them grow, providing mentorship, and securing important funding opportunities.

In this article, we provide an in-depth look at some of the key accelerators and VC funds that are shaping the MedTech landscape in Europe.

When to choose accelerators?

The goal of accelerators is to help medtech startups overcome common challenges such as securing funding, navigating regulatory processes, developing market strategies, and refining their products or services, ultimately facilitating their path to success and market impact within a relatively short time frame.

If that’s what you’re looking for, you might want to look into the list of accelerators below and find out whether you would be interested in signing up.

2024 Medtech Accelerator List

DayOne

As a prominent digital health and medtech accelerator in Switzerland, DayOne offers a comprehensive suite of benefits to startups aiming to innovate in the healthcare sector.

Startups engaging with DayOne accelerator can expect to receive the following benefits:

1. Equity-Free Funding

   DayOne provides non-dilutive funding of up to CHF 100,000, allowing startups to develop their digital health or medtech solutions without relinquishing equity or incurring fees.

2. Extensive Network

   Startups gain access to a diverse and extensive international network comprising major pharmaceutical and Medtech companies, researchers, academic partners, patients, and top healthcare startups across Europe. This network facilitates collaboration, partnership opportunities, and access to valuable resources and expertise.

3. Personalised Coaching and Mentoring

   Startups receive individual coaching and mentoring from a pool of over 50 renowned experts. This tailored guidance covers various aspects of startup development, including business modelling, pitching, fundraising, and strategic partnership selection.

4. Tailored Training Programs

   DayOne offers hands-on boot camps and educational workshops customised to maximise scalability for each participating startup. These programs provide valuable insights, skills, and knowledge essential for a startup’s growth and success.

5. Enhanced Visibility

   Participating startups have the opportunity to showcase their solutions to partners, investors, and end-users on both national and international platforms, including exclusive DayOne events. This exposure increases visibility and facilitates potential collaborations and investment opportunities.

6. Access to Workspace

   Startups gain access to creative workspace facilities within Switzerland Innovation Parks, where they can work alongside fellow entrepreneurs, coaches, and industry experts.

MedTech Innovator 

MedTech Innovator operates as a catalyst for early-stage startups. It hosts an annual competition that provides unparalleled visibility and support. Winners not only secure funding but also gain access to mentorship, partnerships, and potential investors. Past winners like ExplORer Surgical, focused on improving operating room efficiency, exemplify the impact of MedTech Innovator in shaping the industry's future.

What can you expect from the MedTech Innovator?

1. Global reach and recognition

   Showcase your innovation at prestigious conferences like JP Morgan Healthcare and AdvaMed's The MedTech Conference, gaining visibility among key industry players.

2. Expert mentorship

   Learn from the best with guidance from leading manufacturers like Johnson & Johnson and Dexcom, providers like UCLA Health and Mayo Clinic, and investors like RCT Ventures and Aphelion Capital.

3. Investment opportunities
   Connect with hundreds of investors actively seeking the next “big thing” in healthcare technology.

4. Critical feedback and validation

   Receive valuable insights from service providers like Wilson Sonsini Goodrich & Rosati and Greenlight Guru, ensuring your product is market-ready.

Baselaunch 

Baselaunch offers funding and resources without requiring equity, drawing significant investment from leading names in the industry, such as Johnson & Johnson Innovation, Pfizer, Roche, Novartis Venture Fund, Roivant Sciences, and esteemed private partners like KPMG. 

It extends grants up to 250,000 CHF to each participating company by the conclusion of its 15-month program. Situated in Basel, a city renowned for its prowess in life sciences, BaseLaunch not only brings industry-specific expertise but also provides business development support, legal advice, and access to state-of-the-art laboratories for experimental work. 

The program targets startups pioneering "breakthrough healthcare innovations" primarily in therapeutics while also welcoming groundbreaking ideas in medtech and diagnostics. 

Participating startups will benefit from:

1. End-to-End Support 

   From inception through to Series A funding, BaseLaunch is committed to providing all necessary resources for a startup's success..

2. Scientific Excellence 

   Offers access to premier scientific resources, covering intricate subjects like assay development and the use of animal models.

3. Strategic Advice 

   Delivers comprehensive strategic guidance, including milestone planning and techniques for mitigating scientific risks.

4. Worldwide Networking 

   Facilitates connections with global venture capital funds and aids in negotiation processes.

DIGITALHEALTH.LONDON 

The DigitalHealth.London bridges the gap between NHS personnel, digital health firms, and academics, empowering them to enhance both the NHS and social care in London through digital innovations. 

The initiative offers tailored guidance, mentorship, educational resources, opportunities for peer networking, enhanced brand visibility, and pathways to partnerships for digital health pioneers addressing critical challenges faced by patients and staff within the NHS and Social Care sectors.

The DigitalHealth.London accelerator program is dedicated to accelerating the digital evolution within London's NHS. It aims to alleviate the intense demands on healthcare services and enable patients to take an active role in managing their health. 

Annually, the program collaborates with up to 20 promising small and medium-sized enterprises (SMEs), providing customised support and advice, facilitating workshops and events led by industry experts, and forging valuable connections between innovators and NHS entities facing specific hurdles. 

While DigitalHealth.London facilitates access to relevant financial opportunities, it does not directly offer funding nor does it invest in or claim equity from the companies it supports. Since its inception in 2016, the DigitalHealth.London Accelerator has aided 122 digital health companies, with 87% experiencing growth during their participation in the program.

BAYER G4A 

Bayer G4A represents Bayer's prestigious digital health accelerator and incubator, designed to support digital health startups searching for funding and collaborative opportunities within the digital healthcare arena. Leveraging over 150 years of life sciences industry experience, Bayer's G4A Programme is dedicated to aiding digital health innovators in refining their prototypes and scaling their operations. 

The programme is bifurcated into two distinct tracks: 

• The Growth Track aimed at early-stage startups that have developed a Minimum Viable Product (MVP) and are in the process of validation or have published results;

• The Advance Track which caters to more established companies with products already available in the market. 

G4A spans the complete lifecycle of startups, guiding them from conceptualisation through to market launch. 

Participants enjoy a multitude of advantages, including complimentary access to co-working spaces on Bayer campuses for approximately 100 days, mentorship from seasoned industry professionals, extensive networking opportunities, and potential funding of up to €100,000. Since its inception in 2013, Bayer's G4A initiative has facilitated the growth of over 150 digital health companies, fostering more than 30 direct partnerships.

The WILCO Healthcare 

This medical accelerator is designed to support startups in the healthcare domain, especially those innovating with digital and deep tech solutions to transform the sector. 

This accelerator program is committed to offering thorough support and guidance to both entrepreneurs and intrapreneurs, aiding them in the development and expansion of their groundbreaking initiatives.

Engagement with the WILCO Healthcare accelerator opens up several avenues for startups, including:

1. Mentorship from experienced entrepreneurs
   Startups gain access to knowledge through a network of entrepreneur mentors adept in various facets of business growth, from strategising and product enhancement to market penetration. These mentors are invaluable in navigating the complex journey of startup evolution.
   
   

2. Investment prospects
   WILCO Healthcare acts as a conduit, connecting startups with investors keen on financing cutting-edge healthcare innovations. It presents startups with chances to showcase their concepts to potential backers, securing the necessary investments for their ventures' advancement.
   
   

3. Corporate sector insights
   The program offers unparalleled access to corporate sector specialists, providing startups with the specialised knowledge and resources crucial for overcoming regulatory hurdles, forging strategic alliances, or utilising specific infrastructure and facilities.

4. Broadened networking horizons
   Joining the accelerator enables startups to significantly widen their industry network. It encompasses interactions with fellow startups, healthcare professionals, industry stalwarts, and potential partners or clients, fostering a rich ecosystem conducive to growth and innovation.

Venture Capital (VC) Funds in Europe

VC funds in the medtech space often bring more than just financial backing. They contribute strategic guidance, industry expertise, and valuable connections within the healthcare and investment communities. 

This collaborative approach aims to maximise the potential success of medtech startups. Unlike accelerators, which provide structured programs and resources over a fixed period to help early-stage startups quickly grow and develop, VC funds typically offer ongoing support and larger investments over a longer term. If you're looking for such support, check out our recommendations for top medtech VC funds.

Leading VC funds investing in Health-Tech in Europe 

EQT Life Science

EQT is a global investment firm with a vast international presence, engaging in diverse projects, companies, stages, and sectors. Its Europe-based division, EQT Life Science, specialises in direct investments in innovative life sciences and healthcare companies. Having raised over €3 billion, EQT Life Science has invested in more than 190 private companies. The team is composed of highly experienced investment professionals with expertise in medicine, science, and industry.

Sofinnova Partners

Sofinnova Partners is a prominent venture capital firm specialising in life sciences investments with a focus on healthcare and sustainability, operates from offices in London, Milan, and Paris. 

The firm employs a comprehensive approach across six distinct investment strategies to support companies at different growth stages:

1. Sofinnova Capital Strategy - acts as a founding and lead investor in early-stage biopharma and medtech start-ups, providing crucial initial funding and support.

2. MD Start Strategy - operates an in-house medtech accelerator, guiding early-stage medical technology companies through development and market entry.

3. Sofinnova Crossover Strategy - supports later-stage biotech and medtech companies to help them reach their full potential.

4. Industrial Biotech Strategy - targets early-stage investments with a positive sustainability impact in chemicals, agriculture, food, and materials, fostering innovations that benefit the environment.

5. Sofinnova Digital Medicine Strategy - invests in early-stage start-ups at the intersection of biology, data, and computation, promoting advancements in digital medicine.

6. Sofinnova Telethon Strategy - focuses on early-stage projects that showcase leading Italian science globally, helping bring these innovations to the international stage.

Calm/Storm Ventures 

Calm/Storm Ventures is recognised as Europe's most engaged health investor, fostering a distinctive community where founders support each other through challenges. Its portfolio is heavily focused on digital health and wellbeing startups, boasting an impressive track record with projects that tackle traditionally taboo subjects. 

Calm/Storm Ventures is enthusiastic about highlighting and backing innovations in areas often deemed too sensitive for open discussion, such as (in)fertility, sexual wellness, mental health issues, and chronic constipation.

Heal Capital

Switzerland-based Heal Capital is a venture capital entity focusing on investments in the MedTech and life sciences areas. It is committed to backing startups that pioneer in developing novel medical devices and technologies. Heal Capital supports mission-driven entrepreneurs by offering capital and immediate entry into the healthcare industry, investing between €1 and €5 million in HealthTech startups across Europe, from seed to series A phases.

Nina Capital

Headquartered in Barcelona, operates across Europe and extends its investments to the United States, Canada, and Israel. Nina Capital primarily targets preseed and seed-stage investments, occasionally participating in series A rounds and providing potential follow-on support up to Series A. They offer investment ticket sizes ranging from €150.000 to €1M

Health Cap

Health Cap is a venture capital fund headquartered in Switzerland and Sweden, specialising in global investments within the life sciences sector. Its investment strategy targets diseases with significant unmet medical needs and breakthrough therapies capable of transformative impact, thereby improving clinical practices and the patients’ lives. 

Healthy.Capita

A Dutch venture capital company, addresses critical healthcare challenges such as workforce shortages, ageing populations, rising chronic diseases, and inefficiencies in healthcare systems. They invest in scalable and profitable digital health startups led by exceptional teams with a data-driven approach and robust alignment between problem and solution.

Seventure

Seventure is a French venture capital fund which operates in life sciences, nutrition, and the blue economy. It has offices in Switzerland, France, and the UK. Established in 2001, its life science division focuses on pioneering biotechnological investments, particularly in agro-food companies that promote health benefits. 

They emphasise on microbiome applications, foreseeing it as a pivotal area for future development with extensive opportunities in new medicines. Seventure supports companies across various stages, from seed ventures to late-stage enterprises.

Pharma and Biotech VC

In recent years, the landscape of venture capital in the biopharma industry has evolved dramatically, with major pharmaceutical and biotech companies increasingly establishing their own investment arms. These corporate venture funds are not just financial entities; they are strategic tools aimed at scouting and investing early in promising innovations that align with the parent company's strategic goals.

AbbVie Ventures, operational since 2009, serves as AbbVie's strategic venture capital arm dedicated to novel therapeutics at discovery and preclinical stages. Focused on areas such as oncology, immunology, neuroscience, eye care, and aesthetics, it leverages AbbVie's extensive R&D network to accelerate drug development. With a portfolio spanning companies like Capsida Biotherapeutics and Umoja Biopharma, AbbVie Ventures is pivotal in advancing transformative therapies.

Sanofi Ventures invests in early-stage biotech and digital health companies, contributing to innovations in medicine and patient care. 

The Novartis Venture Fund manages a substantial portfolio with a focus on significant patient impact and innovation in life sciences. 

JJDC, the venture capital arm of Johnson & Johnson, boasts a rich history spanning 50 years in corporate venture investing across pharmaceuticals and medtech. With a diverse portfolio of over 100 companies, JJDC supports innovation from company creation to later stages.

Leaps by Bayer, part of Bayer AG, pursues breakthrough innovations across healthcare and agriculture through its '10 Leaps' initiative. By partnering with biotech, health-tech, and ag-tech companies, it aims to tackle global challenges, investing over $1.7 billion in ventures like those developing next-generation agriculture technologies and advancing healthcare solutions. 

These corporate venture capital arms exemplify a strategic shift in the biopharma industry, where investment is not just about financial returns but also about driving innovation that can shape the future of healthcare. As these entities continue to evolve, their impact on global health and technology innovation is set to grow, fostering a vibrant ecosystem of collaboration and breakthroughs.

Where to find more

For a comprehensive overview of venture capital firms investing in healthtech, biotech, neurotech, and medtech, explore the link to 450+ VCs That Made Investments in Healthtech, Biotech, Neurotech and Medtech. This resource offers insights into diverse funding opportunities and strategic partnerships shaping the future of healthcare innovation.

Similarly, for those interested in exploring European investment opportunities, the link to 800+ Top European Investors provides a detailed directory of influential investors across various sectors. This resource is invaluable for entrepreneurs and innovators seeking funding and strategic alliances in Europe's vibrant venture capital ecosystem.