Who does the Invention stream support?
The Invention stream within Core Innovation supports clinical inventors, researchers and early-stage health technology companies overcome critical challenges in turning innovative ideas into impactful solutions. Whether you’re at the ideation stage, working on prototypes, or refining your market approach, we provide support to address obstacles like developing a strong business case, validating your product, or achieving market fit. We partner with pre-revenue companies led by founders who are ready to dedicate significant time and effort to overcoming these hurdles and driving their ventures forward.
How is the stream structured?
The Invention Stream provides a range of tailored services to help health tech companies succeed, anchored by the Invention Studio Session. This core program that provides intensive support to help companies refine their strategies, build connections, and accelerate growth. By focusing on common pain points and offering actionable solutions, this program is designed to help startups achieve tangible results and move their businesses forward with confidence.
For more specific needs, the Targeted Support track focuses on resolving key challenges, while the Entrepreneur in Residence service provides premium, long-term guidance with an experienced executive joining your team for a year. These offerings leverage the resources and expertise of the Invention Stream to help companies excel in the health tech market.
Assessment Criteria
Invention companies are assessed and supported based on the following key factors:
- Market Desirability: Is there a clear demand for the product?
- Technical Feasibility: Can the solution be realistically developed and implemented?
- Business Viability: Is the business sustainable and scalable?
- Team Capacity: Does the team have the skills and resources to succeed?
Service 1: Invention Studio Session
Fast-track your success with the Invention Studio Session—a cohort-based program designed to propel your company forward. A “Call for Innovation” will be put out twice annually for candidate companies to apply to join the Invention Stream of Core Innovation for the upcoming cohort.
Successful companies will work alongside like-minded innovators while accessing expert guidance, tailored resources, and invaluable connections to refine your business, validate your product, and scale your impact. This is a unique opportunity to stand out and thrive in the competitive health tech market.
Services Provided:
- Hands-On Guidance: Our team of experts is with you every step of the way, offering personalized support tailored to your unique challenges and growth goals.
- Business Development and Market Analysis: We’ll help you uncover market demand, refine your value proposition, and develop a business model that resonates with your target audience, ensuring your innovation is market ready.
- Product Validation and User Feedback: Collaborate with clinicians, patients, and caregivers to test your product and gather actionable feedback, ensuring your technology aligns with real-world clinical needs.
- Ecosystem Connections: We open doors to access critical players in the health tech ecosystem, including clinical champions, industry leaders, and potential partners.
- Investor-Ready Preparations: Gain the tools and guidance to build a standout pitch deck and create a polished due diligence package, giving you the confidence to impress investors and secure funding.
- Exclusive Health Tech Resources: Access tailored tools and templates designed specifically for navigating the healthcare landscape, including regulations, funding pathways, and hospital systems.
- Expert-Led Seminars: Learn from industry leaders through dynamic sessions on critical topics like regulatory strategies, intellectual property protection, and pitching to investors.
Service 2: Targeted Support
his support track is tailored for health tech startups working to overcome specific challenges critical to advancing their business. Whether it’s breaking through regulatory barriers, refining a go-to-market strategy, or validating your technology, we provide focused, actionable assistance to help you navigate these obstacles effectively.
Services Provided:
- Directed Support: Monthly support for 6 months
- Targeted Assistance: Support for specific business needs such as:
- Ecosystem Connector: Introductions to clinical champions, partner institutions and industry experts, building a strong network to propel your startup forward.
- Business Development Plan: We reduce risks and improve decisions through mentorship, guidance, and templates, helping focus limited resources on high-impact actions that drive growth.
- Access to Resources: Entrepreneurs need healthcare-specific tools they can access anytime. Our resources address challenges like navigating hospitals, regulations, risks, and funding, tailored for health tech startups.
Service 3: Entrepreneur in Residence
This premium service pairs your company with an experienced entrepreneur who will actively engage with your business. Their expertise will guide strategic decisions, help you avoid costly mistakes, and ensure you’re prioritizing what drives your success.
Services Provided:
- Entrepreneur in Residence: An experienced entrepreneur will join your team one day a week, providing hands-on guidance to drive growth and innovation while leveraging their expertise to navigate complex challenges.
- Ongoing Mentorship: Gain tailored mentorship in critical areas such as technology development, business strategy, and investment, ensuring you’re making informed decisions that align with your goals.
- Studio Session Participation: The entrepreneur will participate in all elements of the Invention Studio Session alongside your company, ensuring your team fully benefits from its resources, strategy sessions, and mentorship opportunities.
- Access to a Network of Industry Leaders: Unlock access to a powerful network of industry leaders, partners, and investors through the entrepreneur’s connections, helping you forge relationships that accelerate your company’s progress.
For more information, reach out to us at [email protected].