Bayer is focusing on collaborating in specific digital health focus areas including digital therapeutics, AI for drug discovery and patient engagement platforms.
To do this, Bayer is combining the G4A Partnerships programs and concentrating on longer-term collaborations and investments.
Eugene Borukhovich, global head of digital health at Bayer said: “The digital health ecosystem has matured over the years and there are some very well-developed start-ups across the value chain. We wanted to simplify the process for entrepreneurs to work with Bayer and scale innovative solutions together, faster. That’s why it’s time to take the way we collaborate to the next level.”
The three existing programs (accelerator, dealmaker and generator) are being combined to form G4A Partnerships, a joint initiative aimed at start-ups in the healthcare sector at various stages of development. Specific business challenges will be defined for which the start-ups can put forward their proposed solutions. The most suitable approaches will then be developed further in collaborative teams with Bayer.
The co-operation will be underpinned by a letter of intent. Not only will the start-ups be given one-time initial funding (€50,000 to €100,000), they will also receive additional payments when jointly defined milestones are reached. The first business challenges will be announced at the beginning of April.
Dr Zsuzsanna Varga, who's heading G4A Partnerships, said: “For us, it’s all about developing new health solutions that can change the experience of health. We’re convinced that long-term collaborations with digital health companies sharing the same passion and vision are the best way to achieve this.”
