Early-stage venture capital investor Innovestor has partnered with Medtronic, Novartis and the Central Finland Health Care District (CFHCD) to head a new Future of Health & Life Science Initiative. The initiative focuses on building co-creation between startups and corporations in order to find solutions for the prevention and treatment of diabetes and cardiovascular diseases.
Diabetes and cardiovascular diseases are two of the most common chronic diseases people suffer from globally. The World Health Organization (WHO) reported that more than 400 million people were living with diabetes in 2015. Similarly, the WHO stated that cardiovascular diseases are the number one cause of death globally, amounting to shortening the lives of more people than all other diseases combined. These are sobering facts, but there exist numerous innovative startups on missions producing solutions for these life altering diseases.
To aid in tackling these challenges Innovestor, together with its partners Medtronic and Novartis and the CFHCD, have launched a Future of Health & Life Science Initiative. As an active technology and health & life science venture capital investor in the New Nordic region, Innovestor aims to bring value to its ecosystem by not only providing capital but also acting as a catalyst for bringing different industry players together.
Having partnered with several corporations in the past, Innovestor and the initiative partner team realized a need for a new format of private-public co-creation between corporations and startups. By bringing it all together, a platform on the forefront of solving challenges together is made possible.
CALL FOR INNOVATIONS
The partner team is now looking for innovative New Nordic startup solutions that are finding ways to better respond to the prevention and treatment of diabetes and cardiovascular diseases. If your startup works to improve any of the following, this initiative may truly help your company grow: patient independence, care quality and cost-effectiveness, balance in managing care and treatment, and utilizing data and digitalization.
Only 2-4 startups will be selected to begin the co-creation process which will span a three-month period. All parties are committed to ensuring the chosen startups success and provide each company with checkpoint meetings and gather a dedicated advisor board that will offer valuable growth insights throughout the process. The goal of each board is to create a long-term partnership model between the startup and corporate partner.
“In this initiative, we will give your innovation the opportunity to be developed in a real-world setting, that integrates specialized care from hospitals, as well as occupational health and private healthcare providers. What we expect from the chosen startups is to see business driven proof-of-concept, a genuine interest in wanting to co-create with a corporate and ability to dedicate an ample amount of time to the process”, comments Matti Härkönen from Innovestor.
Application to the initiative’s first cohort of 2-4 startups is now open and closes March 11th 2021. Don’t wait around wasting time!
CO-CREATING WITH INDUSTRY LEADERS
As an active early-stage venture capital investor, Innovestor is focused on finding and supporting innovative health & life science startups not only as investment opportunities but on a broader scope of supporting the ecosystem as a whole together with its partners Medtronic, Novartis and the CFHCD.
The CFHCD’s strategic goal is to be a part of innovative ecosystems that focus on patient care. It wants to act as this initiative’s collaborative platform at the forefront of utilizing new, influential and innovative patient practices.
Medtronic is the world’s largest medical appliance company. In this cooperation with Innovestor and CFHCD, it wants to find innovations that can help patients who are living with diabetes.
Novartis is the world’s second largest life science company. In this initiative, it wants to find innovations that can solve the prevention and care of cardiovascular diseases.
For additional information:
Matti Härkönen, Managing Partner at Innovestor Ignite, +358 40 578 2688, matti.harkonen@innovestor.fi
Juha Kinnunen, CEO at Central Finland Health Care District, 014 269 1670, juha.kinnunen@ksshp.fi
Tiina Pihkala, Business Development Manager at Medtronic, +358 40 726 2060, tiina.pihkala@medtronic.com
Outi Palin, Cardiovascular Business Unit lead at Novartis Finland, +358 40 061 7846 , outi.palin@novartis.com