Global VC firm and accelerator platform Brinc announced that it has entered a joint venture with Singapore-based HealthTech angel investment group Future Health Asia to launch an accelerator program. The cross-border program between Singapore and Hong Kong targets MedTech and HealthTech startups in Asia or with a significant Asia market looking for acceleration and financial support in their Seed and Series A round of funding. The joint venture is looking towards capitalizing on the HealthTech and MedTech industries, which have seen increased demand due to COVID.
“Brinc’s partnership with Future Health Asia will bolster the value that is provided to selected MedTech startups through the integration of both their networks, expertise and jointly created educational content,” wrote Manav Gupta, Founder and Chief Executive Officer of Brinc.
The MedTech and HealthTech industry has been on an accelerated track due to the coronavirus pandemic, and solutions are expected to see growth. Aside from equipment needed to address the pandemic such as diagnostic tests, ventilators, PPEs, and medical supplies, the surge in tech-based healthcare services have brought these industries into the spotlight. With the tech infrastructure and consumer habits set in place, healthcare will most definitely move forward with increased technology adoption from this point on.
For Brinc and Future Health Asia, this is an opportunity to help innovative startups accelerate their programs and help guide them through the process based on their combined experience and knowledge.
“There is no doubt that the MedTech industry will be reshaped in a post-COVID world as companies embrace flexible work arrangements, look into remote monitoring to increase patient access to care, and start moving towards digital health overall. The industry now has a chance to address its limitations and better position itself for the future,” added Gupta.
Startups that qualify for the three-month accelerator program can expect resources and guidance from the two firms to help them get the ball rolling. This will include an investment in their Seed or Series A round of funding amounting to up to $250,000. More importantly, they will be given access to the two firms’ knowledge and extensive network. With access to the firms’ partners in the healthcare industry, the startups will be given commercial opportunities to link up with hospitals, pharmaceutical companies, and other healthcare companies in the Asia-Pacific Region.
Accepted startups will be given a customized curriculum that will guide them through the different pain points experienced in their industry. The educational content provided by the two firms will include several experienced mentors who have diverse experiences in public health, healthcare, HealthTech, MedTech, and entrepreneurship. These include global health and development advisor Dr. Jeremy Lim, Verge HealthTech founder Dr. Joseph Mocanu, Future Health Asia co-founders Aleem Jivraj and Aga Manhao, and CEO and founder of BioMark Kun Jiang.
As the startups finish the three-month program, both firms plan to continue providing support for the companies. Participants who stand out will have the opportunity to receive further support from Brinc’s global network of later-stage investors.
Brinc is no stranger to the MedTech and HealthTech industries, having at least 20 portfolio companies in this space, including Z Imaging, Aether Biomedical, CRIAM, and Frontier Bio. One company that went through Brinc’s accelerator program, Jetbrain Robotics, was acquired in by healthcare robotics and IoT company Solaris.
Singapore-based Future Health Asia is a HealthTech angel investment group, with an established network of hand-picked investors with unparalleled global experience in finance, technology, healthcare and investments. The team is led by Aga Manhao, Co-Founder and Managing Partner of Future Health.
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