Healthcare Sector: Get funded

EIT Health

Germany

Service ID:

EP30S3
Service description
An ongoing tailored service for support to fundraising. EIT Health and Invest Health (EIT Health SI GmbH, a wholly owned affiliate of EIT Health e.V.) have been collectively offering services since 2016, creating an unrivalled portfolio of the right investment and financials entry points. Its business services facilitate investment for European companies from venture and corporate players to achieve their corporate and financial needs and international ambitions. This service aims to enable EU-based innovative life sciences companies to attract capital to develop, scale faster, and globalise at rates competitive with US and Asia. This service will leverage on partnerships and relationships developed by EIT Health and Invest Health and its unique European life science financial market knowledge. The service will provide customised investment readiness support to selected start-ups and SMEs including: a) Investment journey diagnosis; b) Investment readiness roadmap; c) Capital raise campaign support; d) Facilitating personal, vetted, and value-generating connections; e) Scouting for corporates and cross-European VCs; f) Promotion to relevant potential investors. This service is delivered through a set of enabling tools: Outlining of context/ scope/ objectives/ key success factors/ timelines of the project. The methodology is based on a tailor-made approach: Initial 360° analysis of the needs, enabling a fully adapted and personalized offer; Customizable provision of experts/partners to help EIC Beneficiaries to be investor-ready by answering and monitoring their needs; Expert support for the contracting of deals and transactions. The service will be conducted online, but a hybrid format is also possible if needed
Sector
Biotech
Digital Health
Medtech
Technology Readiness Level
TRL 4 – Technology validated in lab
TRL 5 – Technology validated in relevant environment
TRL 6 – Technology demonstrated in relevant environment
TRL 7 – System prototype demonstration in operational environment
TRL 8 – System complete and qualified
TRL 9 – Actual system proven in operational environment
Disclaimer related to service

This service will accept EIC Beneficiaries and Seal of Excellence holders on a rolling basis. The submission of an application form will be required for the selection of participants. A. In the interest of delivering the highest chance of success to supported start-ups and SMEs, Get Funded will select start-ups and SMEs based on its customised, always-evolving understanding of the investment theses of the investor members in its network. EIC Beneficiaries and Seal of Excellence holders that are determined to be unlikely to be invested by these investors will not be supported by Get Funded. B. Generally speaking, EIC Beneficiaries/Seal of Excellence holders found to be eligible for the service provision will be: Raising more than EUR 6m; Not have a signed fundraising agreement with a fundraising service, or other similar provider; Be expecting to begin their next fundraising round in the next 2-3 months at shortest. C. The vetting of selected EIC Beneficiaries and Seal of Excellence holders will begin once a participation agreement contract is signed by EIT Health and the EIC Beneficiary or Seal of Excellence holders, detailing all contractual obligations and liabilities. In the interest of delivering high-quality, customised services, external service providers and/or experts may be used to deliver services to the supported EIC Beneficiaries and Seal of Excellence holders. D. More information can be requested through: sabine.runge@eithealth.eu. Don’t hesitate to reach out if you have any doubts regarding the service offer and the service fit to your needs.

Financial requirements

€3000 vetting fee paid upfront. If the EIC beneficiary’s vetting is successful, this will be followed by an hourly rate, varying from €125 to €500 depending on the innovation, healthcare sector, and beneficiary needs. The full price will be adapted to the tailor-made investment readiness service offer. Finally, a Lehman Formula-based success fee calculated on the capital stemming from new investors investing in the EIC Beneficiary and thereby joining the cap table will be charged after the receipt of the capital by the EIC beneficiary. The fee model can be subject to further discussion, EIT Health may consider a model that voids the fee when reaching a certain threshold on success fees.