The voucher scheme supports 44 healthcare technology companies with investor readiness

Over the past few months, healthcare technology companies were able to access European subsidy funds through Kansen voor West 2. The ZorgTech innovation program provided support to companies through consultation sessions. The vouchers are reimbursed up to €25,000 for participation in an Investor Readiness Program or up to €10,000 for external advice.

"The vouchers can make a difference for companies in taking their innovation to the next level. By providing expert guidance in the early stages, such as certification or financing, companies don't have to reinvent the wheel themselves and can proceed with the development of their product well-prepared. This is how we aim to stimulate the greater and accelerated application of innovations in healthcare," explained ZorgTech program manager Marieke Kodde.

The scheme

To support companies, a voucher scheme was launched in September of last year with a total budget of €500,000, funded through Kansen voor West. The entire amount has now been allocated, and the scheme is closed. ZorgTech held consultation sessions to connect companies with experts and assist them in clearly formulating their advisory needs. "By establishing these connections, we strengthen the ecosystem, which in the long term is also beneficial for the innovation climate," said Kodde. "Additionally, the consultation sessions and applications provided us with greater insight into the questions companies have."

Outcomes of program vouchers

With a program voucher, companies were able to participate in an Investor Readiness Programma (IRP). During such a program, participants receive theoretical knowledge, assignments, discussions with peers, and sometimes one-on-one coaching by experts. After completing an IRP, a company has a better understanding of what they still need to work on to increase their chances of securing funding.

In total, 15 program vouchers were awarded. One of those companies is Healthy Chronos, which focuses on blended prehabilitation programs. With a voucher, they participated in the HealthTech Accelerator.

"During the HealthTech Accelerator, through intensive advisory sessions, we were able to pinpoint the core problems we want to solve for our customers and determine the appropriate business model. It helped us choose our ideal customer and accelerate our growth," said Pieter Beynen of Healthy Chronos.

Outcomes of advisory vouchers

Companies were able to use an advice voucher to cover the costs of hiring an expert. In total, 29 advice vouchers were awarded. Most companies sought advice on certification, financing their solution through insurers, refining their business case, or market positioning. "By providing them with support in an accessible way at an early stage, we have better prepared them for the launch or scaling up of their product," says Kodde. "This can truly make a difference and prevent a lot of costs or going in the wrong directions."

"With the voucher, we received assistance in developing a health technology assessment model for Virtual Reality in healthcare," says Robbert Brouwer from SyncVR Medical. "With this model, we can demonstrate the cost-effectiveness of VR and show that we are truly saving costs. Several employees also received training in this HTA methodology, and we were able to implement it throughout our entire company. This brings us one step closer to sustainable financing of VR for healthcare."

The ZorgTech innovation program is made possible by the province of Zuid-Holland, TNO, Metropoolregio Rotterdam Den Haag (MRDH), InnovationQuarter, and Medical Delta; the implementation is carried out by InnovationQuarter, TNO, and Medical Delta.