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Health Wildcatters a mentorship-driven seed accelerator, is improving healthcare by supporting entrepreneurs and companies that are developing innovative solutions for the industry. Based in Dallas, Texas, Health Wildcatters was founded in 2013 and just graduated its third class of startups.
What is a seed accelerator?
Seed investment happens in the early phase of fundraising. It is very difficult to get any angel investors to fund you at this stage. We bridge the gap and make it possible for your startup to be an attractive investment opportunity to angel and VC investors, once you graduate from our program. You will use this modest amount of money smartly to have the maximum impact on your attractiveness to investors. That means, you will try to de-risk your company as much as you can by furthering development and getting organized. Accelerators bring structure to the chaos that is inevitable in the beginning stages of the life of a startup by providing direction and acting as a sounding board.
How does the Health Wildcatters program work?
Our program runs for 12 weeks each Fall. Startups that are selected to participate move into our program offices in the heart of Downtown Dallas where they have access to dedicated work desks, conference rooms and meeting spaces, and all of the other necessities for day to day business operations.
Our accelerator program is mentor-driven. This means that the companies that go through Health Wildcatters have access to our extensive arsenal of seasoned entrepreneurs, investors, and mentors. They come from a range of backgrounds; some are serial entrepreneurs with lots of experience, while some are experienced angel investors who can help you navigate through funding waters, others are subject matter experts; finally, we have some great corporate partners that provide a level of access unheard of in most new startups. These accomplished individuals will pair up with the appropriate companies and help answer the questions that will inevitably come up as the business model is shaped. (See list of mentors).
What kinds of companies do you look for?
Our main areas of focus are digital health/mHealth, medical devices, consumer goods and services, and pharma companies but any healthcare startup may apply. Based on our experience, healthcare IT companies, digital & mobile health are well represented in each class.
No matter what your specialty is, you’ll have to convince our evaluators that you’re a good fit for us, that your startup can be helped by our resources in a meaningful way, and that this translates into a significant change in trajectory for your startup (creating value).
How much funding will our company get?
Each company receives $30K from angel investors and can receive up to $250K in follow-on funding. Startups also work from our downtown office and receive access to additional free and discounted services.
What does Health Wildcatters get?
We ask for 8% of a company’s common founding stock. We don’t hold any rights to make decisions for your company, so that means that we only want to see you succeed!
Dallas is arguably the most competitive healthcare market in the nation. There are a half dozen major hospital
systems competing in one of the most rapidly growing metro-areas in the nation. All aspects of healthcare are well represented here, including insurance companies, hospital groups, physician groups, home healthcare, healthcare IT and so on. Dallas has strengths in IT, wireless, telecom and is one of the entrepreneurial places you could be. We are already home to 25 Fortune 500 companies and our mentors have relationships with most if not all of them. The state is second to none in creating opportunities for people who are willing to take on the risks (and rewards) for pursuing their dreams.
Moreover, Health Wildcatters is among only a handful of healthcare startup accelerators in the U.S. With Texas’ favorable business climate, the region’s thriving healthcare industry, and the growing startup community in DFW, Dallas is an ideal location for any healthcare startup.
Click here to learn more about Downtown Dallas.