New offering for digital health startups in the Basel Area
Basel Area Business & Innovation is expanding the offering of its DayOne Accelerator – both in terms of content and the area it covers. As such, startups operating in practically all areas of digital health will be able to get involved in future.
Since 2018, Basel Area Business & Innovation has already supported 20 companies operating in the area of digital health via the DayOne Accelerator, which is its healthcare innovation hub initiative. However, the investment and innovation promotion agency is now going one step further by expanding its financial support program to allow businesses that specialize in the fields of prevention, diagnostics and treatment to apply for grants as well.
The DayOne Accelerator is split into three categories: Digital Health, Tech and Innovation Booster. There are various focal points for each of these areas. For example, in the Digital Health category the focus is on the treatment of pain and value-based healthcare. Startups with a focus on pain therapy can apply for support as of now, although the deadline to submit applications is October 31. DayOne is on the lookout for startups that utilize creative methods to help people manage their pain as well as those that deploy digital healthcare solutions to support patients in pain. Three startups will be considered for this three-month funding program, with each in line to receive a grant of up to 45,000 Swiss francs in addition to expert coaching and access to the biopharma ecosystem of the Basel Area.
Medical robotics, 3D printing, virtual reality in healthcare applications and technological solutions for personalized medicine are the core issues at the heart of the Tech category. For startups that fit the bill in this regard, the DayOne Accelerator is now also able to offer a new location in the canton of Jura, which is well-known as a fertile breeding ground for companies active in the microtechnology sector in addition to offering optimum framework conditions for startups seeking to drive forward healthcare innovations. Startups can apply in the Tech category during the first quarter of next year. The winners will receive financial support to the tune of up to 100,000 Swiss francs, among other benefits, including access to shared offices, events and the Basel Area Business & Innovation network.
Finally, the Innovation Booster category supports incipient projects in the area of digital health. The focus here is on patient-centric solutions that have been jointly developed by startups in close collaboration with academic partners and Big Pharma. The Innovation Booster category is operated on a nationwide basis, with startups able to submit applications in the first quarter of 2022.
Seb Tucknott, co-founder of IBD Relief, outlines exactly how his company’s involvement with the DayOne initiative paid off: “Through our participation in the DayOne Accelerator we have gained invaluable knowledge which we have been able to apply to our own business. The support and input we received from both the accelerator coaches and the rest of the cohort has really helped us to shape the future direction of our business”.
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