aspire guidelines

About ASPIRE

VentureWell is seeking seed-stage medtech startups to participate in an intensive 5-week hybrid workshop to
prepare for the fundraising and company-building activities necessary for launch and realized impact.

We’re seeking engineering and science innovations that create positive impact on patient outcomes and lower the cost of quality healthcare through the innovation’s application or design.

Eligibility

VentureWell will select 10-15 medtech startups for the cohort across medical devices, diagnostics, and life sciences. Startups should be preparing to raise seed or Series A rounds in the coming year.

Team identified & startup formed. First-time founders with the management team and key roles identified, no one-person founders. Incorporated as a legal entity by the beginning of the program.

Early market validation.
  Validated customer segments and initial evidence of product-market fit. Articulation of economic value proposition and evidence of patient or clinician buy-in.

Intellectual property.
  Provisional patent(s) filed and assigned to the company or a clear pathway to the license.

Technology validated.
  Initial prototype developed, pre-clinical trials, or animal studies underway. The program is designed for devices and diagnostics, no software-only products.

Actively fundraising.
  Company has raised at least $25K (grants or equity) and is preparing for an equity investment round within 12 months.

Positive impact on patient outcomes. 
Clearly articulated assessment of how your technology will have a positive impact on patient outcomes and lower the cost of quality healthcare.

ASPIRE is open to startups that have previously received funding from VentureWell (E-Teams) or startups new to VentureWell. We strongly encourage those who identify as members of one or more of the following communities to apply: Black, Latinx, Indigenous, women, gender-fluid, non-binary, and/or those with veteran status.

How To Apply

1) Cover Email
Clearly indicate that, if accepted, you can commit members of the startup’s executive leadership for the entirety of the program. The individual acting as CEO should be attending, at minimum. This is required in order to get the most out of program activities and to build a strong, interactive cohort.

2) Brief Executive Summary
You may use this template: goo.gl/VE3Vru. Address all areas in the template, but edit the formatting to suit your brand. Elaborate in the Technical Summary as needed. (Maximum two pages.)

3) One-Page Technical Summary, Including:
The startup’s product or service, and how it works; stage of development and testing, and next steps for achieving subsequent technical milestones; current IP status and next steps; and diagrams or photos with a summary of any high-level data that demonstrates that the technology works.

4) Your Current Investor Pitch Deck

5) Visit go.venturewell.org/aspire-medtech-2022, click “Apply Now” in the sidebar to submit your materials via our application portal.


Application Closed August 22, 2022
Questions? Contact Tricia Compas-Markman at tcompas@venturewell.org.

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