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Accelerating Startup Partnership and Investment Readiness (ASPIRE) Program

Opportunity for USA Startups to Participate in an Entrepreneurial
Training Program to Prepare for Investment Fundraising

Agency Type:

Foundation / Corporation

Funding Source:

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VentureWell

Conf. Date:

07/28/20

Deadline Date:

08/17/20 11:59 PM ET

Description:

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Opportunity for USA startups to participate in an entrepreneurial training program to prepare for investment fundraising. During the eight-week program, medtech startups will interact with active investors, mentors-in-residence, and fellow founders. The current cohort is aimed at startups focusing on life sciences, medical devices, and diagnostics. Startups should be preparing to raise seed or Series A rounds within the coming year.

ASPIRE is an intensive program that prepares startups for the investments and partnerships necessary to launch their venture. Mentors-in-residence work one-on-one with startups to simulate due diligence conversations and integrate feedback into materials in real-time.

Engaged Mentorship: Startups will work with high-caliber mentors throughout the program that have experience investing or partnering with startups.

Clear Milestones and Ask: Startups will leave with a clear articulation of their investment needs, including the investment ask and planned milestones for the round.

Due Diligence Deal Room: Spend time creating and refining deal room materials to use during the fundraising process. Invest time and energy into work product for a deal room, not a demo day pitch.

Stress Tests: VentureWell pushes boundaries with real-world stress tests – actual startup disaster scenarios

Network Building: Learn from peers and share experiences with a cohort of like-minded entrepreneurs who are facing similar challenges.

For each cohort, VentureWell selects 10-15 dedicated science and engineering-based startups from across the nation that are launching high-impact inventions. Startups must be committed and competitive!

Why ASPIRE?

Spend one-on-one time with investors

Learn from a group of investor-mentors who have funded startups like yours during this virtualized 8-week program.

Vet your fundraising strategy

Refine your deal room materials and take part in a mock board meeting to prepare yourself for partnership conversations.

Stress-test your startup

Work through real-world disaster scenarios with your team to discover how to best prepare for the unexpected.

Collaborate and network

Meet with your portfolio manager weekly for deal room work sessions. Connect with fellow founders and leverage the VentureWell investor network after the program ends.

GrantWatch ID#:

GrantWatch ID#: 186392

Number of Grants:

VentureWell will select 10-15 medtech startups.

Term of Contract:

Program Dates: September 28 - November 20, 2020

Additional Eligibility Criteria:

Requirements:
- Team identified and startup formed: First-time founders with management team and key roles identified—no solo founders. Incorporated as a legal entity by the beginning of the program.
- Early market validation: Validated customer segments and initial evidence of product market fit. Articulation of economic value proposition and evidence of patient or clinician buy-in.
- Intellectual Property: Provisional patent(s) filed and assigned to the company or a clear pathway to the license.
- Technology validated: Initial prototype developed, pre-clinical trials or animal studies underway. Program is designed for devices and diagnostics, no software- only products.
- Actively fundraising: Company has raised at least $25K (grants or equity) and is preparing for an equity investment round within 12 months.
- Positive impact on patient outcomes: Clearly articulated assessment of how your technology will have a positive impact on patient outcomes and lower the cost of quality healthcare.

Pre-proposal Conference:

VentureWell programs staff invites startups to learn about ASPIRE and how to apply to take part in this 8-week virtualized investment-readiness program designed to help seed-stage medtech companies pinpoint their fundraising needs and develop the deal room materials they need to back up their ask.

Date & Time: July 28, 4:00 pm ET

Speakers:
David D'Angelo, Program Officer
Christina Tamer, Senior Program Officer

Register at https://go.venturewell.org/l/388732/2020-07-14/s864dd

Pre-Application Information:

Application Deadline: August 17, 2020, 11:59 pm ET

ASPIRE 8-week Virtualized Program
Program Dates: September 28 - November 20, 2020

Commitment:
Management team, including CEO or founders, should commit to the full program. CEO must serve as the main point of contact and should attend all sessions. The program requires meeting participation on Mondays, Wednesdays, and Fridays for 1-2 hours each day. The startup must be your full-time focus.

There is a $250 registration fee for each participant.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Application Portal: https://oms.venturewell.org/client/index.html

Questions? Please contact David D’Angelo at ddangelo@venturewell.org.

VentureWell
100 Venture Way
Hadley, MA 01035
(413) 587-2172

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

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