1. What is techcare elevator pitch?
techcare is an open innovation program. In techcare you will test your product/working prototype in a real business environment, using Novartis expertise and resources to answer key questions about your solution and how it solves a market problem. You will understand how a big corporation thinks, what it values and what it takes to do business with them. You will also share your own knowledge and experience with Novartis teams in a rewarding learning experience. By the end of the pilot program, you and Novartis will decide if you want to keep working together.
2. In which stage should startups be in order to apply?
techcare is taking applications from startups with a product working prototype or MVP, in product testing phase and with established working teams.
3. Who needs to present? And when?
During the application and selection stages communication is done remotely and you should ensure one person responsible for the communication between your startup and Beta-i. Presence is required at the Bootcamp and Demo Day.
4. Are there any expenses covered by the program?
Novartis will aid each startup with 300 Eur for Bootcamp expenses (depending on the country of origin). The projects selected for piloting will have their costs covered by Novartis – a compensation exclusively directed at covering the direct costs of the pilot. For these expenses, negotiations will be held during the program, considering the pilot plan.
5. Do you take equity of the participating startups?
No, techcare does not take equity.
6. Will you be investing in startups?
No, this is not a program focused on investment. The selected startups will be developing pilots along with Novartis.
7. Where will the program take place?
8. If my startup is selected, what are the next steps?
If your startup is selected, you will be contacted to present an online pitch to the Novartis international jury. The top projects will be invited for a one week Bootcamp in the Lisbon District. By the end of the Bootcamp Novartis will select up to 5 startups to run pilots with.
9. What are the selection criteria?
The selection team will focus on the product/solution and it’s scalability, the team, the market, the business model and project sustainability as well as the fit with Novartis innovation needs. The experience and gut feeling of the evaluators – gained in previous programs – will also be taken into account in the selection.
10. What does my startup have to gain specifically from this program?
By participating, your startup will have access to one of the biggest and most innovative pharmaceutical companies in the world, represented by executives from several countries; For those selected to the Bootcamp, being part of a network of like-minded innovators with whom you can learn and build future partnerships; The ultimate gain is to be able to conduct a hands-on pilot quickly test your solution in real-life conditions and get rapid market feedback on your product.
11. Can I apply with more than one project/startup?
Yes, definitely. You can apply with as many projects you believe would fit and benefit with the program.