The impact of the COVID-19 pandemic on global healthcare systems is staggering. One projection shows that the total cost for COVID-19 response across 73 low- and middle-income countries could be at least US$52.45 billion over just four weeks, at $8.60 per capita. Meanwhile, the June 2020 Global Economic Prospects report forecasts a 5.2 percent contraction in global GDP in 2020.
Impact financing could be one answer to the urgent needs of global communities, getting them the solutions that will help them respond and recover. UNDP and venture capital firm Draper Ventures have partnered to launch the Impact Healthtech Pre-Acceleration Programme as part of the UNDP COVID-19 Response and Recovery Impact Venture Accelerator, a global initiative to accelerate and scale up technology solutions for COVID-19 response and recovery.
This Programme will support growth stage and established businesses with solutions initially focused on challenges within the healthcare system and also in the broader community. It will then be expanded to address other socioeconomic areas affected by the COVID-19 crisis and converging with developmental priorities in the context of SDGs, such as inequality, sustainability, and inclusivity.
About the Impact Healthtech Pre-Acceleration Programme
In the inception phase, to launch in October, the program will recruit up to 60 healthtech ventures globally and take them through a virtual pre-acceleration bootcamp. This will then be scaled up to a full Impact Venture Accelerator later in the year with VC funding inputs to promote and scale-up the ventures across borders. The overall program will include a strong focus on SDG Impact Alignment and Impact Measurement and Management (IMM) to assess impact scalability of the ventures in the COVID19 crisis realities.
The pre-acceleration bootcamp will feature renowned mentors and specially designed curriculum to solidify the ventures’ potential to manage growing seed business, expand market base, integrate in professional networks, increase investment absorption capacity and investment attractiveness, and scale up effectiveness and impact of the technology and business model solutions. It will also provide information about available funding opportunities and organise organize special event (demo day) to showcase the ventures and pitch to a group of relevant investors from relevant ecosystems globally.
The bootcamp, which will run for 15 days (2-3 hours sessions per day), will include workshops, simulations, business case analyses and mentorship sessions on:
- Foresight and strategic vision on the thematic focus (healthcare, healthtech, COVID19 challenges)
- Sales and Marketing
- Financing of Growth Ventures
- Legal Aspects and Requirements
- Team Management and Leadership
- Developing Markets Specifics
- Promotion: Networking, Pitching
Interested in taking part?
If you’re a venture in early growth, growth and Series A stage that provides technology and business solutions for healthcare with the focus on priorities related to COVID19 challenges in healthcare (e.g. preparedness, response and recovery to pandemics of healthcare), stay tuned for more details on eligibility criteria and application procedures!