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Unitus Seed Fund Invites Applications From Health-Tech Startups For StartHealth’s 2nd Edition

Unitus Seed Fund Invites Applications From Health-Tech Startups For StartHealth’s 2nd Edition

After successful completion of first edition of StartHealth competition, Unitus Seed Fund has launched its second edition of StartHealth Competition for health-tech startups in India.

Through this competition, Unitus Seed Fund hopes to reach maximum large number of entrepreneurs who are working towards addressing critical healthcare gaps using scalable and innovative technology solutions or models.

It is a global challenge to identify promising early-stage health-tech startups focused on serving India’s 20 crore families living on or under INR 25,000 per month.

StartHealth Competition-2

The second edition of StartHealth competition will shortlist 30 startups for the semi-final round involving a pitch to the program partners followed by one-on-one mentoring session.

10 ventures out of 30 will be selected to pitch to a jury panel consisting of healthcare experts in final round.

The winner will be announced on October 19, 2015 and will receive a cash prize of $15K (INR 10 lakh).

Apart from providing one-on-one mentoring from healthcare and business experts and the cash prize, the program will provide $75K (INR 50 lakhs) potential non-dilutive funding and $300K (INR 2Cr.) potential seed investment to the startups.

Who Can Apply?

Health tech startups serving in sectors like medical devices, diagnostics and therapeutics space can apply for the competition.

Also, startups that have wide primary healthcare impact, mobile monitoring, online marketplaces, app-based services,enterprise management and healthcare service delivery can apply for the StartHealth Competition.

Besides, those health tech startups where technological innovation and increased mobile-internet penetration are key drivers, are also eligible to apply.

Assessment Criteria

The startups will be assessed based on various parameters including impact on the masses, leadership & team, innovation, business model and presentation quality.

In addition to the winner, runners-up will get an opportunity to pitch to Unitus Seed Fund for $75K (INR 50 lakhs) of non-dilutive capital, support from StartHealth program partners PATH, Pfizer, Manipal Hospitals and Narayana Health and a potential seed investment of upto $150K (INR 2 Cr).

The interested startups can apply here to participate in the program. Additional details of the program can be obtained from the website.

Unitus Seed Fund is a $23 Mn seed stage India venture fund that invests in startups innovating for the masses in India. Prior to this, Unitus had organised first edition of StartHealth competition, where Bangalore-based startup OmiX Labs stood winner.

Also, the seed fund along with Sylvant had announced StartEdu, a nationwide program to identify, support, and invest in the most promising early-stage education startups. The seed fund had also received funding from Pramod Bhasin and Vikram Gandhi just last month to invest in startups, which have potential to reduce poverty. So far, it has invested in startups like Jiffstore, Curiositi and Cue Learn Pvt. Ltd.

Last day to apply for the competition is October 1, 2015. The 10 finalists will be selected to pitch to the jury on October 15, 2015.

Apply here.

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