Venture Fund
HealthX is excited to offer grants for students who are developing innovative ideas in healthcare. The HealthX Venture Fund is a student-run fund that financially supports Penn students working to fill a need in our healthcare system. HealthX provides grant funding and not an investment, so teams retain complete ownership of their idea — no equity or loan is involved. Teams can receive up to $15,000 in funding to develop their ideas and applications are accepted on a rolling basis. Past HealthX-backed companies include Oncora and Stetho.
HOW IT WORKS
Teams must first complete the application below about their startup. From this pool of applicants, finalists will be chosen to pitch their ideas. Ventures must be focused on healthcare in some respect. Successful grants can be up to $15,000; however, most grants range between $500-1,500. Grants may also be tranched contingent on reaching agreed-upon milestones.
PITCH
Select teams will pitch their idea to a committee of HealthX board members and advisors. Pitches involve a 10-minute presentation followed by 10 minutes of Q&A.
FUNDED
Funded teams are expected to update HealthX on their progress and participate in the HealthX conference in the fall and other HealthX events. We also ask that startups acknowledge that they have received funding from HealthX on their company website and other press materials.
ELIGIBILITY
Teams must comprise at least 2 members
At least one member must be a MD or MD joint degree candidate at the Perelman School of Medicine, a recent Penn medical school graduate (<2 years removed from terminal degree), or a Penn medical trainee
The student, recent graduate, or trainee must play an integral in the venture (as evidenced through the application and pitch)
HOW TO APPLY
Teams are required to submit the following documents:
Written Application
Team members’ CVs
All questions can be sent to pennhealthx@gmail.com
EVALUATION CRITERIA
Clinical Value Proposition: Proposed products will be assessed both in terms of the magnitude of the healthcare problem they aim to solve and their potential to impact the issue.
Stage/Need: Consideration will be given to the stage of venture development. Earlier-stage companies will be given stronger consideration.
Commercial Opportunity: Ventures will be evaluated both on the size of their potential markets, their business model, and their commercialization strategy, all of which should include accounting for likely risks as the business goes to market.
Team: Teams will be assessed based on their vision, experience, relevant skills, plan for addressing deficiencies, and collective enthusiasm to realize their idea.
Eligibility: Team and venture must meet all of the eligibility requirements listed in the eligibility section.