INR 10 lakhs cash prize, access to mentoring, and opportunity for 50 lakhs non-dilutive capital and 1 crore investment
12 May, 2015, Bangalore: Unitus Seed Fund, India’s leading venture seed fund supporting startups innovating for the masses, today announced StartHealth Competition, a nationwide challenge to identify promising early-stage health-tech startups focused on serving India’s 20 crore families living on under INR 20,000 per month. The winner will receive cash prize of INR 10 lakhs. Additionally, the winner and the runner-up will get an opportunity to pitch for a direct entry to the StartHealth program which includes receiving up to INR 50 lakhs of non-dilutive fund, support from StartHealth program partners Unitus, PATH, Pfizer, Manipal Hospitals and Narayana Health, and a potential seed investment of INR 1 crore.
|Unitus Seed Fund launches StartHealth Competition for India health-tech startups|
Calling entrepreneurs with health-tech innovations
Sectors include medical devices, diagnostics and therapeutics, mobile monitoring, online marketplaces, app-based services and enterprise management and healthcare service delivery – all spaces where technological innovation and increased mobile-internet penetration are key drivers.
“Technology innovation is a key factor to making better healthcare services accessible and affordable for the masses in India,” said Dave Richards, Managing Partner, Unitus Seed Fund. “This competition is intended to help strengthen dozens of promising health-tech startups and to shine a spotlight on some of the best.”
- Startups may submit their application starting 11 May 2015
- The deadline for submission of application is 17June 2015
- 10 finalists will be selected to pitch to the jury on 23 June 2015
- The winner will be announced on 24 June 2015
- The winner will receive a cash prize of INR 10 lakh
- The winner and the runner up will be invited to pitch Unitus for up to INR 50 lakhs of non-dilutive capital, expert support from StartHealth partners, and an investment of up to INR 1 crore.
Winner will be judged based on multiple factors for success
The startups will be assessed based on factors including impact on India’s masses, leadership and team, innovation, business model, and presentation quality. Areas of particular interest include:
- Healthcare service models enabled by technology
- Healthcare diagnostic solutions leveraging on technology innovations
About StartHealth Program
In early 2015, Unitus Seed Fund, Pfizer Inc., PATH, Manipal Hospitals, and Narayana Health launched of StartHealth, an innovative program to provide up to INR 10 crore (US$1.6M) in grants and investments to very early-stage startups seeking to enhance access to affordable technology-driven healthcare products and services for the low-income masses in India.
About Unitus Seed Fund
Unitus Seed Fund is a $23 million seed-stage India venture fund that invests in startups innovating for the masses in India. We help startups “prepare for growth” via seed funding, strategic & operating support, providing critical connections, and securing growth capital.