Venture Catalysts (VCats), one of India’s top integrated incubators, has teamed up with London-based Well Tech (a health-focused innovation platform) to launch a health tech accelerator – HealthCare Catalysts – which will foster technological innovation in the field of healthcare. The new accelerator will have offices in India, Sri Lanka, and the UK.
Mumbai-based VCats told YourStory that it plans to invest $15 million to $20 million in 20-25 early-stage health tech startups. These investments would be made over a period of three years, and each startup will receive between $500,000 and $1.5 million. The accelerator would also assist in conducting Seed and Series A funding rounds for the selected startups, but did not reveal any names.
Additionally, the chosen startups would gain product and technological support, “strategic delivery guidance”, opportunities for concept-testing, and international market access in the UK, South Africa, and the Middle East. “That, in my opinion, is more important than the money,” VCats Co-founder & President, Dr Apoorv Ranjan Sharma, told YourStory.