Bayer puts up $500k for health tech innovations

Kiwi health-tech start-ups looking to get their product to market could be one of five to receive mentoring, office space and $100k capital in Bayer’s 2015 round of global innovation funding.

The program, known as the ‘Grants4Apps Accelerator’, provides funding to support the development and realisation of innovations in software services, hardware, technologies and apps that can "create value for doctors and patients".

For the five chosen start-ups in the 2015 round of funding, Bayer is offering €50,000 to each; mentoring from Bayer experts, entrepreneurs and investors; and office space for 100 days at Bayer HealthCare Pharmaceuticals headquarters in Berlin.

Riaz Buksh, Bayer New Zealand Pharmaceuticals country head, says that establishing relationships with partners from New Zealand science and industry is a key part of the company’s strategy and “creates an ideal environment to foster digital innovation in healthcare”.

“We are keen to support others in developing initiatives that can make a real difference to the lives of doctors and patients,” he says.  

“Bayer recognises the creative potential outside the company and believes that combining expertise is key to innovation and success.”

Of particular interest are technologies that support patient adherence, diagnosis, therapy management or prevention.

The application process is now open and closes on May 31st, 2015.