BStartup, the financial service of Banco Sabadell that specialises in startups and scaleups, has launched the 7th edition of BStartup Health, announcing that it has raised its maximum investment to 200,000 euros in each selected health project. Its goal continues to be to support pre-seed and seed stage health projects, with the invested funds primarily being used to validate the technology, research and business model.
The application process is open to Spanish companies with international outreach and growth prospects, with a differential and innovative value proposition led by entrepreneurs and engaging in the fields of medical devices, diagnostics, therapeutics and eHealth. The project must also be pre-seed, seed or early-stage and aim to attain an optimal/desirable level of maturity and guarantees for subsequent investment rounds with industry venture capital.
Yolanda Pérez, Director of BStartup, had the following to say about the new call for proposals: “The scientific and technical level of the projects being generated in Spain’s healthcare sector is incredibly high and we are very proud to be able to continue giving them our vote of confidence by increasing our investment to 200,000 euros, to contribute to the transference of research conducted at universities and research centres to the market and the general public”.
Applications can be submitted during the entire month of September and, in line with previous editions, a total of three projects will be selected. In addition to capital, the selected startups will receive a support plan, under which they will be mentored by one of the members of BStartup Health’s scientific and technical committee. This committee is formed of four recognised health investors with extensive experience in the fields of entrepreneurship and science: Dr Clara Campàs, co-founder of Asabys Partners; Carlos Gallardo, Chairman of the Board of Directors of Almirall and founder of CG Health Ventures; Dr Damià Tormo, founder and managing partner at Columbus Venture Partners; and Dr Montserrat Vendrell, partner at Alta Life Sciences. A significant part of this process will focus on specialist business advice at the strategic level, the definition of a roadmap, and guidance for the fundraising strategy, among other aspects. In addition, the selected companies will have access to some of Spain’s biggest investors and they will receive support from the BStartup team during activities such as the preparation for an investment round.
Applications for the seventh edition of BStartup Health can be submitted through the BStartup website until 30 September.
About BStartup Health
The BStartup Health programme was launched in 2018 and targets healthcare projects in very early stages, mainly using the investment to validate the technology and the market, an area in which there is precisely less funding available.
During the previous six editions, 747 projects were submitted and the following companies received investment: Time is Brain, Thytech, Sycai Medical, Inbrain Neuroelectronics, Gate2Brain, Dive Medical, ADmit Therapeutics, Able Human Motion, Renalyse, Oxolife, Doppli, MiWEndo, Oniria, Nanobots Therapeutics, and Emily.ai. These companies engage in a variety of fields, including Alzheimer’s, treatment of strokes, mobility solutions for people with disabilities, kidney disease diagnosis, early cancer detection/treatment, assisted ventilation and human reproduction. Most of them are spin-offs of research institutes of Spanish hospitals and universities.
Sabadell’s Commitment to Sustainability
Banco Sabadell Group continues to build on its position as a prominent agent in the healthcare industry, covering the various investment stages as anchor investor of Sabadell Asabys Health Innovation Investments II (which carries out early-stage investments in the areas of biotech, medtech, digital health and innovative services) and as reference investor in Ysios Biofund III.
Furthermore, the Banco Sabadell Foundation has been giving out its Biomedical Research Award since 2006, in order to recognise young researchers with an outstanding track record in the fields of biomedical research and health sciences who stand out in their respective specialties for their ability to innovate.
