Overview and Program Dates
The Blueprint Health accelerator program is geared towards healthcare companies that want an intensive three-month program to help find customers and capital. Blueprint Health is a Charter Member of the Global Accelerator Network, which was started by TechStars. Selected companies range from two founders with an idea to businesses that have customers, investors and are generating significant revenue.
The foundation of the program is a community of over 150 healthcare entrepreneurs, investors and industry executives that are committed to helping you build and grow your business. We have the largest network of mentors with healthcare expertise of any accelerator, which can provide you with warm introductions and the strategic and tactile advice you need. If you are accepted to the accelerator program, you will receive $20,000 in cash, over $50,000 in perks, office space at our SoHo office, and a community that is dedicated to seeing you succeed.
What are the important program dates:
What do I get if I am accepted to the program?
What does Blueprint Health get?
In exchange for the funding, support and mentorship, Blueprint Health receives a 6% equity stake in your company. We do not ask for any special terms or have onerous requirements. Blueprint Health receives common stock, which is just like the founders stock. You maintain complete control of your company.
Are there any application requirements?
The only requirement is that the majority of founders must be willing to work and participate in the program from our office in Soho NYC. We prefer companies with two or more founders but on occasion accept sole founders.
What is the application process?
We have a four step process – including an online application, submission of an application video, telephone interview and in-person interview. We typically respond to applicants within 48 hours at each stage and accept teams on a rolling basis. We try to be as founder-friendly as we can given that we have been in your shoes and understand what it is like.
What type of teams are you looking for?
We are primarily looking for “stack entrepreneurs” – people that are resourceful, efficient, problem solvers – with complementary backgrounds. We look for people we could have a beer with, go to the gym with, and work with for three months. Additionally, we try to assess the founders ability to interact and benefit from interactions with our mentors and community.
Having a founder that has started a company before is also helpful, although we love first-time entrepreneurs too. On occassion we accept companies with a single founder, although having a strong team of two or three founders greatly increases your chance of being accepted. Having a founder with experience in healthcare is often helpful, but we can help visionary leaders without primary experiences to fill in the gaps.
What type of companies do you accept?
The only types of companies in health that we do not consider are drug development and medical device companies.
We look for teams that can clearly and concisely articulate what problem their potential customer faces and how the team can build a sustainable business by solving the customer’s problem. The best applicants can typically do this in one or two sentences and are very focused on a single problem.
Our community has considerable experience in enterprise sales and we are not adverse to (actually we are excited by) companies that sell to payers, hospitals and providers. We also have experience in direct-to-consumer products and, when there is a supporting business model, are excited by these companies.
What is a typical day like?
The focus of the program is helping our companies build sustainable, profitable businesses. The first month of the program is focused on finding a mentor(s) you want to work with and really honing your idea and business model. You will be pitching your idea daily to your colleagues, mentors. The second month is about getting your idea and company out in front of customers. Some entrepreneurs hit the road and start selling their screenshots. The third month is focused on preparing to pitch your business to angel and venture capital investors at Demo Day. We will help you create a 7 minute pitch that knocks socks off. There are a number of social and educational events each week as well fun team outings.
Are there any obligations after the program?
No. Though we do hope you continue to be an active member of the Blueprint Health family. Even after the program, the resources of the Blueprint Health community are still at your fingertips – including helping you find investors and mentors. You don’t have to stay in NYC (although we would love you to). Ultimately, we are building a strong community that you are part of for years to come and hope you are looking for the same thing.
Is my intellectual property safe?
We have no interest in stealing your idea and that would be bad business for us. We won’t show your application to anyone outside of Blueprint Health. We see hundreds of applications each year and many have very similar ideas. For this reason, we do not sign NDAs. In the end, your real secret sauce is your ability to execute.
I don’t have an idea- can I still apply?
If you are a programer or UX/UI designer, you can apply as a floating founder (see below).
If you are a talented designer or developer, but you don’t have a team or an idea – this is your shot to join one of the leading healthcare start-ups in the country. If you are accepted as a Floating Founder, we will extend you an invitation to join the program for at least the first six weeks. You will participate in all activities in the accelerator and will have the same access to the mentor community that the teams have. You will receive a monthly stipend for participating as a floating founder.
So far, 100% of our floating founders have joined a team and stayed for the entire program. It is an incredible opportunity to broaden your network, get exposure to some of the leading healthcare start-ups, and potentially find an amazing company to join.
The typical floating founder has some or all of the following experience: