27 March 2019 | News
G4A Partnerships strengthens focus on co-creation and scaling by committed collaboration programs are being combined and longer-term oriented
As a pioneer when it comes to collaborating with digital health startups, Bayer is now taking the next step. Instead of one-off startup programs, it is now focusing on collaborating in specific digital health focus areas, e.g. digital therapeutics, AI for drug discovery, and patient engagement platforms to name a few.
To do this, Bayer is combining the G4A programs and concentrating on longer-term collaborations and investments. “The digital health ecosystem has matured over the years and there are some very well developed start-ups across the value chain. We wanted to simplify the process for entrepreneurs to work with Bayer and scale innovative solutions together, faster. That’s why it’s time to take the way we collaborate to the next level,” says Eugene Borukhovich, Global Head of Digital Health at Bayer.
The three existing programs (Accelerator, Dealmaker and Generator) are being combined to form G4A Partnerships, a joint initiative aimed at start-ups in the health care sector at various stages of development.
Specific business challenges will be defined for which the start-ups can put forward their proposed solutions. The most suitable approaches will then be developed further in collaborative teams with Bayer. The cooperation will be underpinned by a letter of intent. Not only will the start-ups be given one-time initial funding (EUR 50,000 to EUR 100,000), they will also receive additional payments when jointly defined milestones are reached. The first business challenges will be announced at the beginning of April.
“For us, it’s all about developing new health solutions that can change the experience of health,” says Dr. Zsuzsanna Varga who’s heading G4A Partnerships. “We’re convinced that long-term collaborations with digital health companies sharing the same passion and vision are the best way to achieve this.”