Medtech companies benefit from North-West business accelerator

A 12-week business accelerator programme in the North West has proven to be hugely successful for health-technology companies.

The Future of Health accelerator, which launched in April, was designed to help start-ups within the health and medical sectors attract investors and create new business opportunities.

The accelerator was delivered by a partnership between Manchester-based The Landing, PwC and tech investment specialist UP. Nine start-ups were involved in the accelerator and nearly every firm managed to secure new investment.

The firms were supported by networking opportunities between thought leaders, industry executives and health-tech specialists. Those taking part were also given the chance to pilot their new technologies and pitch their ideas to healthcare organisations and potential investors.

Technology-enabled homecare provider Cera closed £2.7 million in seed funding and established 15 partnerships with NHS organisations and councils.

11 Health, based in Hertfordshire are in discussion with Salford Royal Hospital to pilot its ‘smart’ colostomy bag.

Manchester’s Aerobit, who have developed an IoT-enabled asthma inhaler, closed an investment round from existing investors and are working on securing a further seed round of investment.

Other firms that managed to secure partnerships include Altogame, a company focused on behavioural research conducted through virtual online games and learning simulations, and Kafoodle, a hospitatlity business that works with healthcare providers to create personalised hospital diet plans. Altogame were selected in the Alder Hey Hospital Innovation Hub and are working on securing pilots there. Kafoodle is in talks with a CCG to develop a healthy eating programme and is in talks with various hospitals and care homes.

Danny Meaney, CEO of UP, said: “The fact that all nine participating Future of Health companies either secured new investment, have been commissioned for NHS-sponsored pilot projects, or have been introduced to potential new corporate customers like Bupa, is very unusual from a single cohort. The combination of PwC’s professional networks, UP’s extensive experience in accelerating business growth, and The Landing’s superb tech facilities, has clearly really enhanced the programme, and helped deliver these stunning results.”

Ali Moiyed, CEO of Ardwick-based Aerobit, said: “It was really tough to get on the programme and we were surrounded by companies from London, Cambridge and even Sydney who all had brilliant products with immense commercial potential. However, with the help of UP and the other partners, we were able to develop our proposition and close on a major round of funding. We are now aiming much higher, and are working closely with UP to raise a further seed round from Health tech investors. We would not have got to this point as quickly without this accelerator, and it’s been great working with PwC, The Landing and the rest of the cohort as the process has genuinely transformed our business in just three months.”