The Health-Tech Innovation Labs
Health-Tech Innovation LABS is an innovative business-accelerator serving Doctors and other innovators in the healthcare technology sector. Health-Tech Innovation LABS is striving to combine elements of several types of organisation including incubator, consultancy and recruitment. Within weeks of launching the company has its first customer in contract and is generating revenue from clients, consultancy and events.
In some areas of the World demand for healthcare services is outpacing economic growth due to changing demographics such as the ageing population. In response, demand for healthcare technology innovation is growing, and Organisations like Google are allocating a larger share of their investment money into the healthcare technology sector. We believe there are 1,000’s of health-tech innovation companies in the UK who would benefit from a central hub – of expert advisors, mentors, and investors – to support them. We have strived to create such a hub – a business model blending the best of various types of businesses – to create revenues and shareholder value. Our team include experienced entrepreneurs, a Cambridge PhD Chemist, and expert medical professionals.
We believe the problem for innovative technology businesses in healthcare, is a lack of coordinated support to maximise their commercial success. We feel there is no cost-effective “one stop shop” where health-tech companies can seek advice, consultancy, expertise in fundraising, coordinated effective introductions to the healthcare procurement departments, etc.
We are “The Health-Tech Innovation LABS”, an venture combining elements of several types of organisation, including the business incubator/accelerator, conference business, and recruitment company. We feel this combination provides the widest range of support to our clients (advisors, mentors, access to investors, publicity, PR, networking, shared office workspace, packages of legal and accounting advice and services, etc) over the longest period of time.
Within weeks of launching, we have our first customer in contract, and are generating revenue not only from that client, but also from consultancy income and events.
We believe our advantage is the combination of the best features of business incubators, accelerators, conference companies, and recruitment businesses. This should create a valuable, effective package of support services, tools, and resources for our clients.
There are now over 115 dedicated healthcare accelerators in the World. London is home to 36 cross-industry start up programmes offering cash and mentoring to fast growing companies, to the best of our knowledge none of these provide the complete package of benefits, with a healthcare sector focus, that we do.
To reduce risk we aim to generate revenue from a range of difference categories of customers. Our incubator/accelerator clients will pay cash fees for monthly subscriptions, and success fees for assistance with fundraising, recruitment fees, and equity. Later in 2015, when we establish our shared workspace facilities, we intend to generate income from providing office services to these clients. From our healthcare innovation events, we are already generating cash income from delegates, sponsors, and companies who showcase their businesses. We’re generating consultancy income based on the expertise that our team has. Some healthcare corporations around the world already sponsor business incubators and accelerators and we aim to generate revenue from this type of sponsorship.
For our shareholders, we hope to create value not only from developing a business with strong sales and profits growth, but also from equity stakes in our clients. Both our incubator/accelerator clients, and recruitment services customers will pay us in equity (and cash, as above).
We aim to work with early stage ventures from idea/ pre-product stage (pre-seed investment) to Series A/Series B funding. We have an exclusive focus on the healthcare sector but not the “wellness” sector.
The Conference & Meetings industry is worth £19.9bn which will be a key area for spreading the word about our offering.
Our aim is to grow the variety and depth of the services we offer as follows:
- Business Incubator – We’re planning to establish an office facility whereby we can provide a shared-workspace to our clients. This is something they have specifically requested. And we aim to grow the incubator service to provide more mentoring (unpaid), and coaching & training (paid for)
- Accelerator – Subject to success in raising funds from corporate sponsors, we aim to launch a proper business accelerator programme where we give cash to our clients in exchange for equity, and provide them with more substantial levels of coaching, training, and mentoring.
Our competition are event organising companies, freelance consultants, business incubators and accelerators, recruitment companies, and fundraising advisors and brokers.
Looking at the incubator and accelerator sector, in the UK there are a few healthcare focused ‘quasi incubators and accelerators’.
- MediCity – run by Boots PLC in Nottingham
- MedTech Campus – run by Anglia Ruskin University in Essex
- Healthbox – a healthcare focused business accelerator in London
We aim to differentiate by:
- Leading with experienced entrepreneurs. We understand alot of programmes are run by Universities or NHS Management, without experience of designing, launching, and growing businesses.
- Taking equity stakes in all the ventures that we work with.
- We are striving to establish a number of income streams which are both short term and long term, and across a number of categories.
- By providing our clients with a wide range of support services (along the model of successful Californian VC firm Andreeson Horowitz) i.e. coaches, mentors, executives in residence, access to our communities of health care professionals, health-tech engineers, academics, and healthcare-focused investors
- And by running a range of healthcare tech industry events.
Barry Shrier – CEO and Founder
Barry launched the European mobile payments business Paybox for Deutsche Bank. He was the founder and CEO, of The Liberty Electric Cars group of companies. He launched the world’s first zero-emission high performance SUV and was involved when Liberty Electric Cars was sold for $17 million with global blue-chip customers including UPS, Lockheed Martin, Tesco, and FedEx,
Dr Farid Khan – Co-founder
He is a Life Sciences entrepreneur and innovator who obtained his PhD from Cambridge University and drug discovery skills from GlaxoSmithKline. He has developed technologies and therapies for diseases in the developed and the developing world.
Ian Sandison – Commercial Director
9 years with Becton Dickinson and 3 years with Smiths Medical in senior commercial roles, leaving Smiths as VP Global sales for their Hospital Infusion business. He contributes to the Cambridge University, Judge Business School MBA and Ignite entrepreneurship programmes.
A medical director with international experience in public health, clinical management. Particular interests in supporting new technologies, and making connections between technology innovators and healthcare practitioners.
The Exit Strategy
We aim to be an attractive target for a large corporate operating in healthcare technology. Due to the nature of our business with our incubator/accelerator, recruitment services, and our venture-builder model – all of these facets of our business mean we should be gaining equity stakes in an portfolio of top-quality health-tech innovation companies. Therefore the equity value of this portfolio could achieve value for our shareholders, like the LPs in a successful VC fund. We are therefore offering addition exit routes by selling the equity stakes in our client and ‘venture builder’ businesses. The proceeds from these equity sales can take the form of dividend payments to our shareholders.
Rewards with monetary value over £1000 can affect the amount of EIS you may be able to claim. Please obtain independent tax advice if there is any concern as Crowdcube does not provide legal or tax advice.
· Invest £10 and get
as shareholders in The Health-Tech Innovation LABS, will have priority access to invest in the companies that come into our accelerator. You will be granted a ‘right of first refusal’ when companies in our accelerator are offering equity to investors.
· Invest £500 and get
a guided walking ‘innovation’ tour at The University of Cambridge.
· Invest £1,000 and get
a ‘minibus innovation tour’ of Cambridge including punting on the river Cam. All investors will get priority FREE access to every Health-Tech Innovation LABS conference, seminar, and training event.
· Invest £5,000 and get
an overnight accommodation, breakfast and a guided tour in a 16th century room at a College at The University of Cambridge. All investors will get priority FREE access to every Health-Tech Innovation LABS conference, seminar, and training event.
This company is offering only A-shares with full voting rights to all investors.
The Health-Tech Innovation Labs has submitted their plans to raise money, details of their structure and trade etc. to HMRC and is awaiting advice on whether or not the proposed share issue is likely to qualify for Seed Enterprise Investment Scheme (SEIS) tax reliefs relating to their shares.
Tax relief is available to individuals only, who subscribe for shares in a Seed Enterprise Investment Scheme (SEIS). Relief is at 50 per cent of the cost of the shares, to be set against the individual’s Income Tax liability for the tax year in which the investment was made.
If you sell, give away, exchange or otherwise dispose of shares, tax reliefs can reduce your Capital Gains Tax bill. Your shares must meet certain conditions to qualify for these reliefs.
The availability of any tax relief, including EIS and SEIS, depends on the individual circumstances of each investors, and may be subject to change in the future. If you are in any doubt about the availability of any tax reliefs, or the tax treatment of your investment, you should obtain independent tax advice before proceeding with your investment.
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