PENN HEALTHX VENTURE FUND
HealthX is excited to offer grants for teams of students who are developing innovative ideas in healthcare. The HealthX Venture Fund is a student run fund that aims to financially support Penn students seeking to fill a need in our healthcare system. This funding takes the form of a grant and not an investment, and so teams will have complete ownership of their idea—no equity or loan is involved. Teams can receive up to $5,000 in funding in order 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 a written application about their startup. From this pool of applicants, finalists will be chosen to receive an initial $1,000 to develop their ideas. While we are open to a broad-spectrum of ideas, we will give preference to startups that meet a technology demand gap in the current healthcare landscape. After a period of development, the team will pitch their ideas.
When teams are ready, they will pitch their idea to a committee comprising of HealthX board members and advisors. Pitches last for 10 minutes and will be followed by 10 minutes of questions and answers. Teams that successfully pitch their ideas will receive another round of funding for $4,000 to carry forth their ideas.
Funded teams are expected to update HealthX on their progress and participate in the HealthX conference and other HealthX events. We also ask that start ups acknowledge that they have received funding from HealthX on their company website and other press materials.
- Teams must comprise of 2 to 5 members.
- At least one member must be a MD or MD joint degree candidate at the Perelman School of Medicine.
- What is the difference between this and HealthX Labs?
- HealthX Labs is an incubator program with a rigid timeline that provides assistance in aspects of start-up creation like team formation and idea generation. In contrast, the HealthX Venture Fund has a rolling application and is open to eligible teams that have already done a substantial amount of work on their idea and are looking for funding.