Excited that we're launching Village Capital VentureWell on May 18, 2014 in Cambridge and Boston ... but we've got to find 15 great health ventures interested in collaborating as a cohort to move their ventures forward!
This will be the third time I've worked with Village Capital to deliver a program for entrepreneurs based on their peer selection model. Very simply, at the end of the program entrepreneurs in the cohort choose which of the companies best merits investment. Two companies will get $50k each in equity investment, half from Village Capital and the other half from VentureWell. The program takes place of three intensive four-day sessions, in May, July and September.
Often the first question I get is, "Isn't that like Survivor?" It's not. Although there certainly some tension around the voting process, otherwise we produce a collaborative environment for all the companies participating. No start-up is covering every base and most have something to offer the other teams. For example, one team may be highly knowledgeable about medical reimbursement but need engineering help. Another team may be in the opposite situation.
We're looking for companies with innovative medical devices (Class I, II), diagnostic technologies and health IT platforms. We are especially interested in enterprises that have B2B business models and address a problem, disease or medical condition that disproportionately affects rural or low-income Americans or others currently underserved by the U.S. healthcare system.
Applications close April 7. Take a look at www.vilcapventurewell.org and click the link over to the application on the Village Capital website.