1. Am I eligible to apply to Springboard’s Health Innovation Hub?
Companies that apply must meet the following criteria:
- A woman in senior leadership with a significant equity stake who will represent the company through the program
- A credible management team that is open to feedback
- A track record of milestone achievement (Our sweet spot is Series A or B)
- An intent to raise capital in the next 12-18 months
- An industry focus in the pharma space including new drugs, diagnostics, pharma technologies, and drug-delivery devices
2. What stage of company are you looking for?
We accept applications from companies at all stages, from seed to early stage (series A) to late stage (series B and beyond). Our “sweet spot” is any company that is or will be seeking institutional investments within the next 12-18 months.
3. Do you have a geographic focus?
We are location-agnostic. Our main focus is finding the most promising companies, regardless of where they are located. We’ve worked with companies in over 30 states and more than 10 countries and are fine with virtual teams, too.
4. I’m not sure if I’m a good fit for your program. Should I apply?
Let’s talk first. If you have doubts, we’d hate to waste your time completing the application only to find out you aren’t an eligible candidate. That said, it’s difficult without reviewing your information and seeing your application to properly determine whether or not you’re a fit. Chances are, you’ll meet our criteria to apply and we’ll recommend you submit an application. If you end up not being selected for the program, we’ll still point you in the direction of the right resources for you – whether it’s a seed accelerator, angel group, or someone (or something) else entirely.
5. How do I apply?
The application will be available online on January 9. This is designed to better understand the business opportunity. You will complete questions about the business and attach an investor pitch deck and executive summary.
Your application will not be finalized until you have submitted the application and your application fee. Please contact firstname.lastname@example.org with any questions about the application process.
6. What is the cost?
There are two fees associated with the program:
- For all applicants, there is a $100 application fee for applications submitted by the priority deadline February 2. The application fee raises to $200 for applications submitted between the priority deadline and the final deadline on February 6.
- For all selected companies, there is a: $5,000 program fee and a suggested contribution of 1-2% in warrants*
*Contribution of warrants to Springboard is optional but encouraged in recognition of the value of the Springboard network.
7. Do I need to move somewhere to participate?
No. We do not require companies to relocate in order to participate in our program. Instead, we host several high-value in-person events over the course of several months that are most often condensed into a single day but never longer than three days. We complement this face time with strategic virtual connections to surround our talented women business builders with the expertise and connections they need to grow scalable, sustainable businesses.
8. I’m an experienced entrepreneur. Why should I apply?
Some of our most successful alumnae like Pamela Contag, Robin Chase, Gail Goodman and Linda Hall Keller also asked that question. In our previous programs, these women and over 600 others have achieved remarkable results: 84% have raised capital, $7.4B raised in total, 13 IPOs, tens of thousands of jobs created and billions in annual revenue. We understand what it takes to help build great women-led businesses. Every step in our program is remarkably calculated and has evolved from over 16 years of experience in running high-touch, high-value programs for the world’s most promising entrepreneurs. We won’t waste your time.
9. Who’s involved in the program?
Our programs are truly community-driven. We involve over 600 entrepreneurs, angel investors, VCs, corporate investors, business development contacts, press, service providers and domain experts in the program. These individuals help by referring applicants, evaluating applicants, speaking at our events, coaching selected companies and recruiting new talent into this pool of experts.
10. How can I increase my chances of being selected?
We accept around 10-15 companies in each accelerator class, which means the application process is highly competitive. We play close attention, as investors do, to the referral source of the companies that come to us. Find out who we know, and ask them to give you a reference. Mention their names on your application and include any other external sources of validation like awards that tell us you are a force to be reckoned with.
11. What happens during the program?
During the program, selected entrepreneurs attend a three-day highly interactive Bootcamp where they are introduced to our network and assessed by our team to determine their greatest needs. Based on these needs, each entrepreneur is surrounded with a team of advisors who work to refine the investor pitch, open doors to decision-makers, and address any other needed strategic areas like the got-to-market strategy. The advising period may also be complemented with a series of workshop sessions led by our advisors and trusted partners built around the collective needs of our entrepreneurs. Entrepreneurs continue to get access throughout the advisory period through 1:1 calls, group meetings, and other timely introductions.
Towards the end of the program cycle, we set up opportunities to present before small audiences of relevant investors or corporate partners. Depending on the specific program, these events may be attended by up to 100 investors, industry experts and connectors or by just a few, highly connected, highly regarded decision-makers.
12. What happens after the program?
The alumnae of our accelerator programs never stop reaping the benefits of being part of our curated entrepreneurial expert network.
After the program, we continue to serve as a relentless advocate for our entrepreneurs, leveraging our relationships and the connections within our network to add value, whether by helping you get access where you need it, or by having your back in the most challenging of circumstances. We are your partners on your search for success and strive to be the backbone and the peer network that you turn to in times of stress and success.
We are invested in the long-term success of our entrepreneurs, and we expect our entrepreneurs to be invested in the long-term success of the Springboard network. We host an annual Winners’ Circle dinner, a bi-annual Caucus, and have a constant influx of new talent into the Springboard pipeline. When you exit your company, we seek to involve you in the virtuous Springboard cycle by serving as an advisor to the next class, as a Life Science Council Member, and as an investor in Springboard’s mission to cultivate and promote the best entrepreneurial talent in the world.