Launch of EIT Health Start-up Rescue Instrument 

May 21, 2020

Due to the COVID-19 crisis, start-ups are struggling to close financing rounds and investors are struggling to keep their portfolios afloat. In some cases, private investors are adopting a portfolio-first strategy and pausing investment into new targets to focus on existing portfolios.

In these times of adversity, we are proud to announce the launch of the new EIT Health Start-up Rescue Instrument to help highly innovative ventures survive the crisis. Through this co-investment opportunity, we aim to bridge the fundraising gap of start-ups in Series A, Series B and bridge-financing rounds and increase your current or target investor's firepower. We would like to invite you to consider whether this opportunity is right for you! 

EIT Health will leverage the value of an investor’s commitment to your venture and co-invest up to €500,000 in grants for options. The investor will need to provide the start-up with evidence of ability and willingness to co-invest at least 50% of the EIT Health grant-for-equity. For example, if a private investor invests at least €250,000, EIT Health will match this with an additional €500,000 grant, giving the start-up a total cash injection of €750,000. 

Start-ups that meet the criteria listed below can apply on the EIT Health platform by Monday, 1 June 2020.

  • Seeking Series A or Series B financing round or was in promising preparation of a bridge financing round ≥ €1M before COVID-19 crisis
  • Investment rounds affected/postponed by the COVID-19 crisis
  • Pre-money (of current round) or Post-money valuation (of previous round) ≥ €5M
  • Valuation determined after 1 January 2019
  • Private investor willing & able to co-invest 50% of value of EIT Health grant
  • TRL ≥ 4 (Biotech); TRL ≥ 6 Medtech/Digital Health
  • Incorporated on or later than 1 January 2013
  • Active in Medtech, Biotech and Digital Health areas
  • Drug development projects are not eligible
  • Be an SME According to EU definition registered in EU Member State or Horizon2020 countries

For more information on the Start-up Rescue Instrument, please see this online slide deck. You can also visit the EIT Health website and see the call document for more details on eligibility requirements and the application process.

If members of a start-up have any questions, you can contact a business creation manager in their region.

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