BE Accelerator, a growth-focused program and venture fund based in Taiwan for healthcare, has extended its global call for its POC (Proof of Concept) Program until January 15, 2022.
BE Accelerator has extended the application period to their hospital-backed POC (Proof of Concept) program for product or prototype-ready startups looking for traction in the Asian market.
The Taiwan-based program was launched in 2018 and has since supported 72 healthcare startups, raising US$92 Million. The program leverages the unique strengths of the thriving ecosystem to position the accelerator as the gateway to Asia for both local and international startups.
A focus of the program is to help international startups explore business opportunities in Asia by facilitating engagement with various stakeholders such as hospitals, clinicians, regulators, manufacturers, and investors.
To help startups better understand what the program entails we have compiled a list of some FAQs that will give you better insight into what you can expect if enrolled in the startup program.
1. What can I expect to get out of BE PoC Accelerator Program? How is the Program different from other Accelerator Programs?
The BE PoC Accelerator Program provides the ideal opportunity for international startups to explore business opportunities in Asia. With our network of hospitals, startups can explore unmet clinical needs through needs validation, establishing a hospital pilot site, and access to medical resources.
Startups interested in clinical trial, manufacturing, data access and fundraising resources will also benefit from our network across Taiwan and Asia.
2. Are there any fees for participating in this PoC program?
The program is free for enrolled startups. There may be costs associated with teams interested in traveling to Taiwan for business opportunities, but this is not a prerequisite. In specific cases, BE can provide additional financial support for startups.
3. How will the program take precautions during Covid-19? Can the program be completed virtually? (eg visa requirements, resources that can be provided to overseas applicants)
Due to the ongoing pandemic restrictions, travel is limited to and from Taiwan. However, over the last 2 years, our accelerator program has shifted to a virtual/hybrid model. International startups can participate in the program and access the same resources as those in Taiwan.
Meetings with hospital partners, supply chain resources, and regulatory experts are all conducted virtually and will be scheduled on a 1-on-1 basis that is suited to your schedule.
All our program coursework will be recorded and available in English so that our startups have access to workshops related to market strategy, reimbursement, regulatory, and fundraising.
4. What is the time commitment for participating in the PoC Accelerator program?
The program runs for a 20-24 week period, but a full-time commitment is not required. The main reason for the length of the program is to facilitate the proper engagement with our hospital partners and the relevant clinicians. This is something that usually takes time and requires multiple engagements.
Weekly, the time allocation for the program will roughly be about 3-5 hours depending on the course material for the week and the number of hospital engagements.
5. I am interested in the two hospital cohorts, but what if I don't see a cohort that fits my business?
Startups that apply to our program are allocated to one of our hospital partners depending on their area of focus. This is as each hospital has different areas of interest and resources to help startups.
Taipei Medical University is focused on working with startups in the areas of digital health, artificial intelligence, and medical devices. Show Chwan Healthcare System is dedicated to working with startups that focus on minimally invasive surgery, robotic surgery, and smart surgical room solutions.
If you are uncertain which hospital to apply for, please reach out directly to the BE team or apply to the program that you believe is most suitable and we will make any changes during the selection period.
6. After the BE PoC Accelerator program, what’s next? Does BE take equity or provide funding?
After the program, BE usually offers an equity investment to selected startups that have shown high potential during the program. There is no set size of funding or equity, but rather this is discussed individually with the founders.
Helping startups access funding is a main focus of the program and we also help introduce startups to other investors in the region.
7. Why is Taiwan a good ecosystem for you to come and validate your solution for the Asia market?
Location: Average of 2h55m flight to six major cities in western Pacific.
Medical Resources: Collected over 20 years of digitized, single-payer medical data from NHI.
Technology: Strength in creating proprietary technology, R&D & manufacturing.
Innovation: Taiwan is focused on having an innovation-driven economy.
If you believe that the program will benefit your startup or you are interested to learn more please reach out to us or apply directly and we will be in touch.
Applications for the program are currently open. The deadline for startups to apply is January 15, 2022. The program will officially kick off in March 2022 for startups selected to participate in the program.
For those interested to learn more or to submit an application, please visit the program website at https://www.behealthpoc.com/