HCF Catalyst, Australia’s first corporate-supported health-tech accelerator is back to drive the next wave of health innovation, following the program’s highly successful first year. The program was developed by HCF, Australia's leading not-for-profit health fund and Corporate Startup accelerator Slingshot, to identify the next big ideas in health and turn them into viable companies.
HCF Catalyst is now accepting applications from health entrepreneurs, experts and other specialists to participate in a 12-week structured program designed to develop compelling business models and secure the traction, viability and investment needed to succeed.
Sheena Jack, Chief Strategy Officer at HCF said, “Our vision is to improve health outcomes for all Australians. To do that, we have to adopt new technologies and business models that help us better meet our members' needs, now and in the future.”
“The first year of HCF Catalyst demonstrated that Startups can make a lasting impact in the healthcare industry and we are eager to work with a new cohort of entrepreneurs to develop innovative and disruptive ideas that can improve the wellbeing of everyone.”
“We are thrilled to launch the second year of the HCF Catalyst program. HCF has proven that it is committed to building a culture of innovation and nurturing the new technologies and services that will improve the quality, accessibility and effectiveness of health and medical solutions,” said Karen Lawson, CEO of Slingshot.
HCF Catalyst Startups in the first year have secured $2.25 million in funding, demonstrating the strength of the HCF Catalyst program as a launchpad for entrepreneurs.
Last year’s graduates Curo Technologies secured $1 million investment from HCF, with a deal signed in September 2016. The Melbourne-based company uses sensor technology to help elderly people to live independently for longer.
"HCF's commitment to Curo has been significant with regards to investment and time with their leadership team. It has helped to shape Curo today and is an example of how corporates should work with Startups. We could not be happier with the outcome," said Tim McDougall, CEO of Curo.
This year’s HCF Catalyst themes have been developed around specific areas the HCF would like to innovate, grow and offer to their members and all Australians. They include:
- Making Health Care More Affordable
- Making Health Care More Understandable
- Delivering High Quality Health Care
- Making Health Care More Customer Centric
This year, the program has been updated to offer Startups more flexible investment terms.
“We recognise that Startups enter a corporate accelerator program with a variety of needs. Some want seed capital, while others want access to high quality mentors and some are attracted to content we provide. This time around, Slingshot will negotiate with Startups on the basis of their personal needs. It is not just a standard dollar figure for equity anymore. Feedback so far has been overwhelmingly positive and validated the need for a flexible structure for founders,” added Lawson.
Key Details
Startups, Scaleups and entrepreneurs can apply for HCF Catalyst via the website at: www.hcf.com.au/catalyst
Applications for HCF Catalyst are open from 24 October 2016 to 25 November 2016.
Finalists will pitch their ideas to a leading panel of judges during the HCF Catalyst Pitch Days on 6-7 December 2016 at the Atlassian headquarters in Sydney. The cohort will be announced in early 2017.
View a video summary of last year’s HCF Catalyst program here: http://www.slingshotters.com/hcf-catalyst/
About HCF
HCF, leading not-for-profit health fund protecting Australians since 1932, covers around 1.5 million members with health and life insurance, community care, travel and pet insurance.
On average over the last five years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average. With over 35,000 specialists participating in its Medical Gap Cover Scheme and approximately 10,000 providers participating in its 100% back More for You programs, HCF gives members access to quality healthcare with no gaps or minimal costs compared to non-participating providers.
To empower members to put their health first, HCF also offers a range of health and lifestyle services including its My Health Guardian health management program, mobile Victor Chang Heart Health Checks and My Global Specialist second opinion service. HCF also offers a discount on online GP visits with GP2U.
HCF’s national network of retail outlets and Australian-based call centres have earned multi-award winning status. HCF members also have access to low cost, high quality services at HCF Dental Centres and HCF Eyecare Centres.
Having contributed $50 million to support the health services research funded by the HCF Research Foundation, HCF is devoted to investing in the future of Australia’s health. To learn more about HCF go to www.hcf.com.au/about-us
About Slingshot
Slingshot supplies large corporates with world-class innovation programs.
Slingshot brings corporates together with disruptive Startups and entrepreneurs who are building innovative and potentially market changing technologies. Slingshot run internal accelerator programs and corporate readiness solutions.
Their corporate innovation programs provide entrepreneurs with finance, mentorship and a dynamic work environment that stimulates creativity and productivity. The program curriculum is robust and proven to achieve commercial results. This is not theatre. The results are real. Ideas to Impact.
Slingshot match corporates with top-end entrepreneurs who create game-changing technology for the market. Slingshot is delivering these programs to some of Australia’s and global leading brands including the HCF, ING Direct, NRMA and Simplot Australia.
Slingshot was founded by Trent Bagnall and Craig Lambert in October 2012 and officially launched by the Federal Minister for Innovation The Hon. Greg Combet in March 2013.
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