Event Recap: AMA Health Founders Estonia Accelerator Programs
On June 26, Health Founders Estonia organized an interactive webinar to introduce its brand-new accelerator programs to health tech founders who are considering joining our programs or are simply curious to learn more about what we offer. The deadline to apply for the Health Founders Estonia programs is June 30: hfe.ee/programs/startups
“Health Founders Estonia is the place to be as an early-stage founder building your health tech company. The core strength of our community lies in bringing together different experts and founders from both digital and life science fields.” – Andrus Kurvits, Board Member at Tartu Science Park.
During the session, the format, content, and goals of three accelerator programs —DEFINE, DEVELOP, and GROW —were presented. Also, Anna-Liisa Kubo from Nanordica Medical and Kerli Luks from Muun Health shared their journeys and how various accelerator programs have helped them scale and achieve success.
Anna-Liisa Kubo, Co-founder and Chief Innovation Officer at Nanordica Medical, is developing an antibacterial wound dressing for diabetes patients with ulcers. During her presentation, Anna-Liisa shared that over the years, they had participated in several accelerator or incubator programs that had helped them gain knowledge in business development, as the whole team had backgrounds in science and limited experience with entrepreneurship.
She mentioned that because healthcare is a highly specialized field with its regulations, complex clinical trials, and many stakeholders, they chose to join the Health Founders accelerator, which is specifically designed to meet the needs of a health tech company. During the program, they were introduced to the CIMIT model, which they found to be very clear and useful for achieving product-market fit and tracking their progress. They also achieved investor readiness for the first time and doubled that amount with grant funding.
Anna-Liisa also shared a few tips to help you thrive during your accelerator experience:
- One of the biggest advantages of an accelerator is the ability to sharpen your focus. Use the mentorship and feedback you receive to concentrate on what truly matters. Resist the temptation to pursue every opportunity and remain disciplined and strategic.
- The network you gain through an accelerator is invaluable. Engage actively, ask for help, and offer support. A strong community can accelerate your growth far beyond the length of the program.
- Before you join, be clear about what you want to achieve. Whether it’s finding product-market fit or preparing for investment, having your own goals will help you make the most of the program. Remember, the accelerator provides guidance and resources, but the drive and execution need to come from you.
Kerli Luks, founder of Muun Health, is developing a sensor for accessible female hormone monitoring. During her presentation, Kerli shared that they participated in the Health Founders pre-accelerator and accelerator programs, which helped them get on the right track. She mentioned they wouldn’t have advanced as far on their own.
Kerli also pointed out that healthtech-specific accelerator programs are very important due to the complexity of the field. These accelerators will connect you with mentors who have in-depth knowledge of the field and with whom you’ll be working in the future. You can also meet founders from different backgrounds and companies at various stages of development who can teach and inspire you. She also pointed out that accelerators will provide the visibility you need as an early-stage startup, especially to investors, by offering investor contacts and providing pitching opportunities at various conferences.
Kerli also shared a few tips to help you thrive during your accelerator experience:
- While general accelerators offer great support, healthtech programs provide tailored expertise, regulatory guidance, and connections within the healthcare ecosystem. You’ll gain more relevant insights and meet mentors who truly understand the unique challenges of building in this space.
- Don’t be a passive participant. Ask questions, join discussions, and seek feedback at every opportunity. The more you engage, the more you’ll learn, and the more value you’ll bring back to your startup.
Let’s build the future of health tech! The deadline to apply for the Health Founders Estonia programs is June 30: hfe.ee/programs/startups
Please find all the materials and the recording of the event here.
The HFE program is funded by the EU through Enterprise Estonia, in collaboration with Startup Estonia, to build a strong, globally competitive health tech ecosystem in Estonia.