Pharmaceutical and HealthCare Giant Bayer To Launch Startup Accelerator In The Self Care Space
Earlier this week at the Health 2.0 conference in Santa Clara California, pharmaceutical and healthcare giant Bayer announced that they were launching a startup accelerator focusing on ideas in the self care space. This isn’t their first soiree into startups, for the past five years the German based company has run a program called Grants4Apps for the last five years in Berlin. The new accelerator will be called G4A Generator.
Now, Barton Warner, Vice President of Strategy and Portfolio Management at Bayer says the company is launching a US based startup accelerator focused on the area of self care where the company has seen growth in interest that hasn’t produced corresponding growth in market.
Consumers are more and more interested in drug-free solutions,” Warner told Mobihealthnews. “This could be through medical devices, this could be through natural solutions. The second thing is people are looking for solutions well beyond medicine. They’re looking for alternative therapies. We’re seeing this whole area of digital really starting to take hold and grow. So the growth is happening, it’s just not happening in the spaces where Bayer traditionally operates.”
Bayer is hoping to build upon the success with the innovation model it uses with the Berlin program. Within the self care industry, the company wants to focus on areas like; nutrition, pain management, skin protection, and the holistic ecosystem.
They don’t have all of the details worked out quite yet, but this was intentional. Warner along with Eugene Borukhovich, Global Head of Digital Health Innovation, are hoping to spark enough interest amongst the startup community to get feedback as to the best way Bayer can facilitate this program.
One option is to start the G4A Generator accelerator program off as a virtual program where the startups they select to participate can participate remotely. They’ve been talking about the idea of bringing all of the startups into a physical location as well, but also said that wouldn’t be at Bayer’s headquarters.
“We don’t want to bring it into the mothership of the company because that’s how it gets slowed down,” Warner said. “We want to do things differently and have this independent environment where the ideas can grow.”
Bayer plans to start connecting with startups between now and the end of the year. They’ve set up a website at g4agenerator.com where interested startups can sign up for more information. In January Bayer will start talking with this companies and begin to whittle the list down. Once they have selected the startups for the accelerator they will meet face to face.
Find out more at g4agenerator.com