Frequently Asked Questions
Health VentureLab is a collaboration between many partners, backed strongly by the EU through EIT Health.
It’s main purpose is to nurture young teams and businesses so that they succeed in bringing innovative healthcare products to market.
Why is this good?
- Industrial partners look for talented businesses that they can work in the long run with. This could mean strengthening their own products, expanding the customer base, outsourcing risky innovations.
- Academic partners benefit from a clearer path for bringing their research to market.
- All partners are interested in building an ecosystem, where talent remain and innovation thrives.
This could only work because:
- Partners are dedicated in nurturing, but not suffocating startups. This means that coaches delegated by the partners are equipped with the right knowledge to not walk into dangerous IP territory; not asking for equity for joining the program and
- Partners see the benefit of early stage companies operating by themselves, supported by established players, rather than small companies who are in practice subsidiaries of a large company.
- Partners see Startups as potential partnerships, who can bring ideas to market that just wouldn’t fit into their own business modell. Most often established companies know about the technological opportunities but don’t or can’t take the business risk of realizing it.
EIT Health VentureLab Budapest is an acceleration program to develop individual and team business competencies, while at the same time allowing participants to explore and develop their ambitious health-related business ideas. This is a four-month programme of weekly training and coaching. It Health Venture Lab helps the teams expand the potential of their business and get ready for funding in Budapest, at the heart of a rapidly growing startup ecosystem in Central Europe. The project key executer is GE Healthcare, a leading force in the Healthcare sector.
Health Venture Lab Budapest will offer 16-week-long acceleration program (starts in September 2018 – coaching day – every Friday) for candidates with an entrepreneurial mindset who want to develop their personal and team business competencies and explore and develop their ambitious health-related business ideas. HVL Budapest offers weekly training sessions, coaching and a Europe-wide network (EIT Health).
Participants will acquire the knowledge and skills along with the attitude necessary to develop the strategic, organizational, networking and financial basis of a growth-oriented firm.
- 31. August 2018 – Launchday!
- December 2018 – Demo Day!
- From 31. August – 14. December 2018 – Coaching Day (every Friday)
Early stage life-science and Healthcare teams/companies
Teams/companies who are either at pre-seed or seed funding. Students (BA & MBA), graduates and professionals. Teams of 2-5 people are welcome.
EU Member States: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Slovakia, Slovenia, Spain, Romania
H2020 Associated Countries in Europe: Albania, Armenia, Bosnia and Herzegovina, Faroe Islands, Former Yugoslav Republic of Macedonia, Georgia, Moldova, Montenegro, Serbia, Turkey, Ukraine
During the acceleration period, the teams will have coaching and training each week (every Friday) and we also have a startup weekends during the program. For this reason, we expect the following commitment from the candidates.
Commitment from foreign teams:
- To participate personally at least 8 times (Obligatory: Launchday!, Startup weekend and Demo Day!)
- We provide virtual participation for the other 8 occasions
Commitment from non-foreign teams:
- To participate personally at least 13 times (Obligatory: Launchday!, Startup weekend and Demo Day!)
We provide virtual participation for the other 3 occasions
The 4-month long program is for free. Non-Budapest teams will receive reimbursement (travel and accommodation).