IBM Ventures launches an Accelerator in Healthcare IT, also sponsored by other big corporates – not so much for the investment as for potential solutions and partnerships says IBM.
Nesta recently hosted the London launch of IBM’s latest Accelerator. HealthXL will start in Dublin in January and is seeking some eight to ten teams with ideas for new products/businesses in healthcare IT. The programme will include regular visits to London to meet mentors, and for Demo Day.
Sponsored by Nesta, Startupbootcamp and IBM, alongside GSK, Reckitt Benckiser and Silicon Valley Bank (among others), at the meeting several people with interests in healthcare and in venturing waxed lyrical about opportunities, about prospects in this sector, about potential investors and about the returns obtainable.
On offer is a 3-month intensive programme plus 3 months of follow-on, with accommodation and mentoring (IBM claim to have a bank of some 500 mentors, of whom very few are in IBM itself), a package worth €100k, with €15k cash provided – essentially to cover board and lodging over this period. All this in return for 8% of their equity, and no rights reserved for IBM over the products that may be developed – their interest, they say, is in potential solutions and partnerships.
The programme will again be run by StartupBootCamp, who have run some of the IBM Ventures Smartcamps (some 60 or so in 20 cities worldwide over the last three years), with which they have had ‘lots of successes’, three or four of them have ‘gone on to arise significant amounts of capital’, and IBM have people on their Boards.