Merck launches health tech start-up program in Africa
pharmafile | February 1, 2016 | News story | Manufacturing and Production, Medical Communications, Research and Development |
Merck has begun its equity-free accelerator program for digital health start-ups in Nairobi, Kenya- a three-month venture offering $15,000 equity-free funding, working space and mentoring from Merck’s global network of business experts.
The German pharma company is also globally kicking off the application period for the second round of its accelerator program in its own country, and says it intends to take the concept global long-term.
“With our program in Nairobi and our growing international network, we made a first big step to go truly global with our accelerator. We want to create a platform where the potential to execute ideas is not limited by location,” says Michael Gamber, head of Merck Innovation Center.
He continues “Africa is one of the most promising and dynamic markets for digital health, driven by a vibrant and innovative startup culture. With our Accelerator program, we aim to become part of it”
The three-month program in Germany comes with an equity-free funding of €25,000, regular coaching and office space at the Merck Innovation Center at the company’s headquarters in Darmstadt. Merck said the two programs now running will be strongly connected in terms of expertise and knowledge exchange as it plans to grow a global Accelerator network.
“Coming from a global company we also want to develop our accelerator program to become a global platform. The execution of an idea should not be limited by the conditions of the location where it was born,” explains Gamber.
Interested founder teams can apply for both of the programs on Merck’s website until February 29th, 2016.
Joel Levy
