There is a new startup programme in the healthcare and medtech sector. Based in the Brainport Eindhoven region of the Netherlands, HealthTechXL aims to build deeptech ventures to solve societal challenges.
The programme is a collaboration between Philips, HighTechXL, BOM (Brabantse Ontwikkelings Maatschappij), DeepTechXL, and Invest-NL. The programme aims to boost the creation, development, and growth of startups in advanced medical technology.
Brigit van Dijk–van de Reijt, general manager of BOM, says, “Brabant, and in particular the Brainport Eindhoven region, breathes medical technology, but a specific venture-building programme to help more entrepreneurs grow successfully more quickly was still lacking.”
“The enormous interest from budding entrepreneurs shows how much need there is for this programme.”
Guus Frericks, Managing Partner of DeepTechXL, adds, “We expect that promising new medical companies will start thanks to this initiative to which we can contribute through early phase financing and guidance.”
A new startup programme
HealthTechXL began in September with 50 participating teams in the healthcare and medtech sectors. In the first half of 2024, these teams will pitch their proposals to investors, partners, and the Brainport startup community.
The programme is managed by HighTechXL and the BOM, with commitments from BOM, DeepTechXL, and Invest-NL, to invest in emerging companies from the programme, supporting innovation in healthcare and medtech.
John Bell, CEO of HighTechXL, says, “Global societal challenges, such as affordable and accessible healthcare, can only be solved by combining breakthrough technologies with entrepreneurship. Venture building is a structured approach that allows entrepreneurs to convert technology into impact.”
“Venture builders have a much higher success rate than independent ventures. Over the past ten years, HighTechXL has developed itself into a leading deep-tech venture builder. We look forward to the startups this new program will produce,” adds Bell.
Innovation, entrepreneurship, retaining talent
HealthTechXL fosters innovation and entrepreneurship in healthcare and medical technology. Participants receive guidance from HighTechXL and BOM to develop their ideas and establish companies.
Successful participation can lead to investments from BOM, DeepTechXL, and Invest-NL, with up to 15 startups expected to receive funding over the next three years.
This initiative in the Brainport Eindhoven region aims to enhance healthcare accessibility and affordability, potentially making a global impact.
Philips is utilising the HealthTechXL programme as part of its Central Social Plan to support employees affected by a reorganisation. This initiative aims to retain technical talent in the Brainport Eindhoven region while also promoting innovation in the medical field through collaboration with partners.
Sylvia van Es, President of Philips Netherlands, says, “By exempting employees who have been affected by the reorganisation from work and allowing them to participate in this programme, we offer them the opportunity to take the next step in their career.”
“For example, by becoming a co-founder of a startup. It can also provide an important boost for Brainport in general and the medtech ecosystem in particular, because in this way we can retain technical talent for the region and because we also make existing intellectual property rights available,” adds Sylvia van Es.
Supporting challenging ventures
Invest-NL is the Netherlands’ National Financing and Development Institution, specialising in impact investing. It aims to fund projects and innovations that are often seen as difficult to finance, with a focus on driving societal transitions, such as sustainability, healthcare access, and technological advancements.
The Deep Tech Fund within Invest-NL concentrates on investing in crucial technologies developed in the Netherlands, promoting national technological progress.
Speaking about the new startup programme, Yvonne Greeuw, Investment Associate at the Invest-NL Deep Tech Fund, says, “There is enormous potential in the innovations that currently remain untapped, as well as in the technical talent that becomes available to develop them further.”
“These projects can play an important role in achieving better, affordable and accessible healthcare. However, they require patient capital and are often riskier than what regular investors typically look for.”
“We are therefore pleased that we can offer financial perspective within this programme with the Deep Tech Fund,” adds Greeuw.
The partners
Royal Philips is a global health technology provider. It specialises in improving healthcare outcomes across the entire spectrum, offering solutions in diagnostics, treatments, and home care. With a presence in over 100 countries and nearly 71,500 employees, they are expected to generate a turnover of €17.8B in 2022.
The Brabantse Ontwikkelings Maatschappij (BOM) is an economic development agency in the Netherlands, working to accelerate growth and innovation in various sectors, including sustainable food and key technologies.
BOM supports startups with financing and assistance, aids companies in their internationalisation efforts and emphasises social value alongside economic opportunities. BOM achieves its goals by sharing knowledge, facilitating networking, and providing capital to foster economic and sustainable development in the Brabant region.
In 2022, DeepTechXL launched a €100M fund, with an additional €9M Seed Capital loan from the Netherlands Enterprise Agency (RVO) for early-stage investments. The firm supports companies from their initial Seed stage to subsequent investments like Series A, B, and C, fostering their growth and development.
Read the orginal article: https://siliconcanals.com/news/healthtechxl-a-new-startup-programme/
