Start-up companies are being encouraged to apply for funding under a programme that aims to foster innovation in the health technology sector.
Digital Health.London (DH.L), a programme that supports the NHS in finding digital solutions to solve problems relating to the delivery of care, has teamed up with wealth management firm RYSE Asset Management to launch the Early Stage Opportunity Fund.
DH.L’s role is to identify a small number of companies that have the potential to address health and care needs across the NHS and other health services. These will then be considered for investment by RYSE.
In particular, DH.L is looking for start-ups that provide innovative services in telehealth and care, mobile health, health analytics and digitalised health systems.
DH.L programme director Yinka Makinde said: “DigitalHealth.London’s extensive networks and intimate market knowledge of the health and care sector – particularly around digital solutions – mean we are able to signpost RYSE toward innovations that we believe meet a need and offer real potential in providing positive and lasting impacts on the health outcomes for patients.”
A minimum of eight successful applicants will be invited to interview with the RYSE Asset Management team in February, with the firm looking to invest between £250,000 and £2 million in each company.
“The offering aims to address an investment or funding gap in the market largely overlooked by institutional and professional investors due to the time involved in undertaking due diligence on a number of early stage companies and their principals or founders,” said Claudio D’Angelo, managing partner of RYSE.
“Combining our investment management expertise with the experience and networks of DigitalHealth.London, we are confident we will be able to make a tangible contribution to the digital health and care market.”
Interested companies have until January 18 to apply online. Applications must include a 90-second video pitch.
In December, GP on demand service ZoomDoc launched a crowd-funding campaign to raise £500,000 so that it can expand.