Perth’s largest entrepreneurial hub Spacecubed has launched a new healthtech accelerator, HBF Activate to support innovation in the healthcare sector. HBF is Western Australia’s leading health insurer and will work alongside the local community and the health industry to develop market ready health innovations and products.
So far it’s been a big year for healthtech, with corporates, social enterprises and entrepreneurial hubs hosting a variety of health focused accelerators and hackathons to find technology driven solutions to improve healthcare services. From Westpac’s Innovation Challenge to Slingshot’s HCF Catalyst accelerator program, startups around the country are being urged to develop intuitive products and services that can improve treatment outside of hospitals.
Rob Bransby, managing director of HBF, said the company is serious about investing in this area. HBF has joined corporates and accelerators like One10, Data61 and Blue Chilli who have already placed healthtech high on their list of investment.
“The opportunities in health are aplenty, and our focus at HBF is on improving our members’ health, happiness and their overall experience with us. If we can harness new technology to do this, then we’re serious about investing in this area,” said Bransby.
HBF Activate will combine Spacecubed’s experience in managing innovation programs and HBF’s health industry expertise to take three concepts from ideas stage to market ready products. The successful startup teams will each receive $30,000 in seed investment and in return HBF will take six percent in equity.
“As the WA startup ecosystem continues to rapidly grow, Spacecubed has been looking at more agile ways to support entrepreneurs to take their ideas and passion to the market,” said Brodie McCulloch, managing director of Spacecubed.
The 10 week accelerator program will assist entrepreneurs in taking their concepts from ideation through to prototype. In addition to funding, three startup teams will be given the opportunity to commercialise their ideas with the assistance of mentors and working space in Spacecubed. Prior to the accelerator teams will workshop their ideas and choose one out of four themes to address.
The themes include lifelong health, making healthy happen, a life stage partner, and private health insurance. These themes all look to harness technology in different ways to address specific community health problems from obesity to health insurance claims.
McCulloch said, “We’re very excited to be partnering with HBF to support entrepreneurs developing health technology for a healthier Australia. As two organisations with a strong focus on the experience of our members, it’s a partnership that makes sense, not just for Spacecubed, but for our members, and the broader startup community.”
Learn more about HBF Activate here.
Image: Brodie McCulloch. Source: scoop.com.au.