Health Wildcatters: Your Resource for the Healthcare Innovation Industry
Healthcare costs are expected to continue growing at a 6.5 percent increase in 2017, according to PwC’s Health Research. The entities within this industry can also expect to witness the number of healthcare startups to rise as they begin to develop new ideas to improve patient care and ultimately lower those costs for both consumers and businesses.
This is why we formed Health Wildcatters. While there are various accelerators programs available to help entrepreneurs get their tech businesses off the ground and running, we wanted to focus on supporting healthcare startups specifically.
Health Wildcatters is a mentor-driven seed accelerator that is ranked the top healthcare accelerator in the Southwest. During our 12-week program we work directly with the entrepreneurs who are in the process of developing innovative solutions that will drastically impact the healthcare industry. After completing the application process, we ask the startups chosen to participate in the program to move into our offices located in the heart of downtown Dallas so they can experience a fully immersed experience while having direct access to our resources.
We offer a $30,000 seed investment to each member of the cohort or “class” of startups in the program, and they each have potential to receive up to a total $380,000 from our network of investors. Additionally, during their time with us they will have access to our extensive arsenal of seasoned entrepreneurs, investors and mentors who can provide guidance and advice. In return, we ask those companies that graduate from the program for an eight percent of their common founding stock.
These 12 weeks are rigorous and fast-paced. The program culminates in what we call “Pitch Day,” where each startup presents their business to a group of more than 500 investors and healthcare industry experts. Over the last four years we’ve graduated 42 companies that have gone on to raise more than 21 million dollars!
We encourage you to throw your hat in the ring if you have an innovative idea and want to start your own company. We typically look for startups that meet the following qualifications:
- Technology Driven: Digital Health, mHealth, HealthIT, Medical Devices, Pharma, Diagnostics
- Customer Based: Hospitals, patients, doctors, anyone who could conceivably be a healthcare consumer
- Location: come from anywhere, willing to locate to Dallas for the program
- Founders: well-rounded founder teams of at least 2 people, demonstrated understanding of entrepreneurship, relevant technical and business knowledge
- Capital: need seed capital to support living expenses while bootstrapping, can make efficient use of limited capital, would generally be planning on self, angel or customer financing as a next step coming out of the program.
Applications for our 2017 program will open in March, and we will choose the next class in June to join us here in August. Learn more about Health Wildcatters here.
On this blog, we will provide a place where you can learn more about innovation within the industry, gain tips for beginning a company, and hear about our own company updates. We are completely focused on providing advice and educational content for healthcare startups and are excited to have another avenue to share our thoughts.
Follow along as we dive in and discuss the changes that will impact our healthcare industry in 2017!