What type of medtech are you seeking?
We are seeking engineering and science innovations that create a positive impact on patient outcomes and lower the cost of healthcare through the innovation’s application or design. The program is designed for devices, diagnostics, or software products.
If I’m still working to bring on a co-founder, am I eligible?
We look for startups that have formally started to build the team; this typically means that a person operating completely alone is not a good fit for the program. Even when someone is a solo founder, we usually find that there are strategic consultants involved in furthering the technology and/or business development. Many skill sets are needed to execute in a startup (more than can be found in any one person), and it shows that the original founder(s) have been able to sell the vision to bring other founders/early employees on board and successfully manage and retain them.
How many hours of participation in the program are required?
About 5 hours per week for the online portion of the program. This includes 2 hours of cohort-based programming, 1-2 hours of customer discovery, and 1-2 hours of independent work. We believe that the more you put into the program, the more you’ll get out of it!
Who are the entrepreneurs-in-residence?
The entrepreneurs-in-residence have backgrounds and experience as founders of medtech startups, as healthcare providers, clinicians, and administrators, and are active investors and mentors; they also bring expertise in regulatory pathways and reimbursement.
Do I have access to work materials?
Yes, all participants will have access to work materials.
Could you give me an overview of the topics we’ll cover?
Here’s a look at the topics we’ll cover during the program, which will help you prepare your business model for due diligence:
- Due diligence
- deep dive into the due diligence process
- the ideal pitch deck
- Milestone planning
- regulatory pathways
- corporate partnerships and strategic selling
- Venture math
- financial projections
- reimbursements
- Clinical trials
- the technology development process
- partnership consideration
Are there other program-related costs for the startups?
Yes, you are responsible for your own travel to Lansing as well as accommodation costs while attending the in-person portions of the workshop (May 16-18, 2023, and August 16, 2023).
What’s the profile of a startup that has been accepted?
Strong candidates will have successfully validated product market-fit, tested initial business model hypotheses, and have made a full-time commitment to their startup.
I haven’t participated in past VentureWell E-Team programs / I am new to VentureWell. Can I still participate?
Yes! While many VentureWell E-Teams do advance through our suite of programs, the program is open to startups that haven’t yet taken part in VentureWell programming.
I have questions about the program and our eligibility. Who should I contact?
Please reach out to Cara Barnes, VentureWell Senior Program Officer.