Welltech1, an Israeli innovation hub and micro-fund that invests in early-stage companies that make people healthier and happier, has called on start-ups in the wellness technology space to apply for new investment.
The Israeli wellness technology fund has been launched in partnership with the Global Wellness Institute’s The Wellness Moonshot: A World Free of Preventable Disease - the first global campaign dedicated to eradicating preventable, chronic diseases.
Start-ups with innovative ideas in wellness, healthy living and disease prevention, will be judged by wellness experts from high-profile companies around the globe, to earn an investment of up to $200,000.
“We felt it was a critical time to launch this initiative. The Coronavirus crisis has hurt overall seed-stage funding for start-ups (down 22% in 2020), but has also intensely accelerated the importance of wellness and prevention and how technology can deliver it. For instance, global VC funding for digital health companies doubled in Q1 2020 over Q4 2019, while funding for mental health/wellness companies jumped 65 percent year-over-year,” said Amir Alroy, co-founder, Welltech1.
“We’re thrilled that our Moonshot partner in Israel has put this money on the table to offer companies across the wellness technology space much-needed investment in a time of both unprecedented crisis and opportunity,” noted Nancy Davis, GWI’s chief creative officer and executive director and one of the start-up evaluators.
“Wellness, which we define as the personal, proactive and prevention-focused pursuit of healthy activities and lifestyles (self-care versus healthcare), has become radically more important to people during COVID-19. This fund will spur the new ideas we need now and in a post-virus world.”
Applications for the fund are open now with the final deadline for entry Monday 18th May. Entry submissions should demonstrate innovation, ability to scale, a growing market for the solution, ready-for-market companies or those with initial revenues, and an aggressive B-Plan. More than one start-up may receive the investment.
After applications close, Welltech1 will conduct an initial screening, before companies will have one-on-one Zoom meetings with global wellness, financial and technology leaders including representatives from the Global Wellness Institute, Facebook and the IFF, a leading global innovator of taste, scent, nutrition and ingredients. Shortlisted applicants will finally participate in a Virtual Demo Day.
Start-ups selected for funding will be showcased at the Global Wellness Summit, being held in Israel (Tel Aviv) for the first time in November 10–13, 2020. The conference will be squarely focused on wellness innovation, with its first Wellness Innovation Pavilion spotlighting standout companies from Israel and the world. Israel is the perfect place for the 2020 GWS, as there are roughly 2,000 health start-ups there, with 500 focused on wellness—and the conference will shine a bright light on the nation as a wellness and health innovation center.
To apply and learn more about the funding visit: https://www.welltech1.com/competition
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