The fifth edition of the EIT Health Validation Lab came to an end for 10 startups at YES!Delft this week. The Pitch Day marked the close of the two-month program and brought a number of highlights with it. The event, which welcomed more than 100 guests, gave a platform to all participating startups to pitch their business idea in front of a jury, with KroniKare emerging as the big winner and both Slam Ortho and VitalFlap as the runners-up.
Kronikare, the winner of this edition, is a startup developing a wound scanner that uses AI to automate the process of wound assessment to just 30 seconds. By providing a real-time solution, the team hopes to give clinicians more time and less effort to improve their work.
“It is brilliant how much the pitches improved since I saw the startups in our hospital just a few weeks ago,” said Marten van der Elst, one of the jury members, working at Reinier de Graaf.
As the winner of the pitch competition, KroniKare will get a ticket to this year’s edition of the EIT Health Summit, which will take place on December 2-3 in Paris, France.
EIT Health Validation Lab is a partnership between YES!Delft and EIT Health and combines YES!Delft’s startup expertise with extensive knowledge and network of EIT Health. It is designed to help promising medtech teams validate their technology by working closely with mentors and industry specialists. The program is organized together with partners Biocat, LUMC, FAU, TU Delft, UMCG and University of Copenhagen.
On 26th of June, we celebrated the 5th edition of our signature startup showcase event – Meet the Startups. We welcomed over 250 corporate partners, investors, mentors, journalists, and entrepreneurs to take a look at the best cutting edge tech and startups YES!Delft has to offer. In an Innovation Playground, all the guests could try the prototypes of Warp VR, Somnox, Kitepower, Nurt.Io, Manometric, Momo Medical, Scoozy, Dental Robotics. Meaning they could even test-drive the mobility scooter of Scoozy, try out a VR experience with Warp VR or even sooth their emotions – almost falling asleep – by hugging the sleep robot of Somnox.
Afterwards, they were dazzled by the pitches of Momo Medical,BI/OND, VideowindoW, Qlayers, Dutch Analytics, and Warp VR. The captivated audience was entertained by MtS host Gerrit H – Mr. Red Sneakers – with an ongoing quiz about the pitches and calls to action presented. The sharpest audience member was awarded a Somnox sleep robot for his knowledge about the ecosystem. Even more, the latest batch of Accelerator startups was there with a stand and everybody could talk with them! Make sure to not miss the next edition!
As temperatures rise, Meet the Startups is not the only time when we show the success of our tech startups! YES!Delft startups celebrate soaring success as time passes by! Read all about it in the top 10 tech startup success stories of this month!
This Accelerator alumnus announced a collaboration with YES!Delft partner Tata Steel on stage at Meet the Startups. Together they will utilize Warp VR’s virtual reality training technology for safety in IJmuiden location. In spring, Warp VR developed a first virtual reality training after doing a workshop with the Tata Steel safety team. After the success of the first training, they will continue to develop several safety scenarios for training which will eventually be used to train large groups of up to 2000 Tata Steel employees.
Huawei has joined forces with this Accelerator alumnus and will be showcasing their energy harvesting solution at MWC Shanghai 2019. Nowi is a pioneer in novel energy harvesting technology. Their technology enables the capturing of ambient energy sources such as light, temperature gradients or radio frequency, with the highest efficiency.
Validation Lab and Accelerator alumnus Manometric was one of the startups on the Innovation Playground, where they showcased their 3D hand scanner. Moreover, the MedTech startup won the Vereniging Samenwerkende Topklinische Ziekenhuizen (STZ) Innovation Challenge. The impact and scalability of the product impressed the jury. There Manometric won 3500 EUR to support the further validation of their product.
Nightbalance founder Eline Vrijland-Van Beest, who was named one of the MIT 35 under 35, wrote about her seven biggest learnings for MedTech product development. Founded in 2009, the MedTech startup and Accelerator alumnus developed their Sleep Position Trainer (SPT). This device is a comfortable and easy to use treatment alternative for people who suffer from positional obstructive sleep apnea. Nightbalance was ultimately acquired by Philips in 2018.
ComplexTech startup VSParticle was named one of the ten winners in the Academic Startup Competition, out of the 28 startups competing. All winners first pitched at GES 2019. Now, all the winning startups will travel Silicon Valley, courtesy of the Dutch Ministry of Economic affairs, to learn how to scale their innovations faster.
The Aviation startup and Accelerator alumnus has announced that Rene Worms, former Managing Director of Topcon Positioning Europe, will be joining as Head of Global Sales. Together they will work on the international expansion of the professional vertical take-off landing (VTOL) mapping and surveying (fixed wing) drone Marlyn, which is known for its accuracy, ease of use, and highest wind resistance in its class.
BNR’s annual Green Quest Award looks for the most sustainable entrepreneurs, and Accelerator alumnus McNetiq has been nominated. Their magnetic Controlock scaffold anchor can cuts costs by reducing energy usage, the anchors can be reused indefinitely and the application is toxin free. McNetiq is up for the Audience Award, and you can vote for them here! The grand winner will be announced at the grand life show on July 1st.
Ontmoet de 40 Green Gallery bedrijven live tijdens The Green Quest Award show op 1 juli. Met key note, visionair Thomas Rau. Aanmelden kan via de volgende link! @BNR@Harm__Edenshttps://t.co/RjVeg6Ozil
Tjarda Voorneman – the Project Manager of EIT Health Validation Lab that takes place in Delft for more than four years – talks about the successes of the collaboration between EIT Health and YES!Delft in this period.
This year we are again proud to organize the EIT Health Validation Lab in our incubator in Delft! The unique two-month pressure cooker program allows aspiring entrepreneurs from all over Europe all the way to Delft in The Netherlands to discover the business potential of their MedTech ideas. Tjarda Voorneman, the project manager of EIT Health Validation Lab looks back ahead of the 5th edition.
After 4 successful editions EIT Health Validation Lab, what has changed?
“One of the amazing things that have happened over the course of the last four editions, is the steady growth of the European network. This results in new and powerful partnerships from which everyone benefits. We have many great partners in this program, such as TU Delft, LUMC, UMCG, Biocat, Copenhagen University, and FAU Erlangen- Nurnberg. In turn, this also attracts startups of course, not only in the Netherlands but from the whole of Europe. Since the start four years ago, the majority of European countries have been represented in the program.”
“We have many great partners in this program, such as TU Delft, LUMC, UMCG, Biocat, Copenhagen University, and FAU Erlangen- Nurnberg. ”
Tjarda Voorneman, Project Manager EIT Health Validation Lab
What is it that makes the program so successful?
“The power of the program is the process of validation. EIT has ideation events, such as the Innovation Days and Summer Schools. Validation Lab is a very logical next step from that. We have a strong core program here in Delft that yields results. This is why Validation Lab is one of the Bootcamps offered now in the EIT innovation funnel. The teams get the chance to travel through Europe to validate their business assumptions further, which is an incredibly valuable and rewarding experience. The extensive EIT network is highly beneficial for this.”
There have been many excellent entries in the EIT Health Validation Lab, what are the criteria for winning?
“Winning is not just about having an amazing product, but it’s mostly about how the team has gone through the process of validation. The main goal is finding a product-market fit, and it’s amazing to see how the teams manage to make such massive strides on a European level in such a relatively short time.
Last year’s winners, Smart Medical Optics, are a prime example of this. Through the course of the validation program, they realized they needed to pivot in terms of their beachhead market. They started to focus on research institutions in Europe, which really helped them take off. Participation in EIT Health Validation Lab can help you grow really rapidly. When you go through the process of validation well, you could be pitching before an audience of a thousand peers from the medical sector.”
“The most valuable lesson for us was market-fit: we found potential launching customers not only in Africa, but also in Europe. The Validation Lab really challenged us to think critically about our ambitions and business plan and identify our a beachhead market – Europe. Our ultimate ambition is still to make an accurate and fast malaria diagnosis available in remote parts of the African continent. But the European market is also interesting for our technology – research institutes working with malaria benefit from the fast and accurate reading of blood samples.”
Mirthe Vendel , co-founder Smart Medical Optics
EIT Health Validation Lab draws an international selection of startups, but also from different backgrounds. How important is this diversity?
“During Validation Lab the teams learn a lot from each other. Not only about their countries and the medical fields there but also about the different backgrounds. Some teams are already fully fledged companies. Others are working on projects within major European universities and then some are fresh graduates. They all have different experiences, different perspectives and that enriches the Validation Lab environment. For example, pitching is a skill very central to Validation Lab, and the levels of experience can vary incredibly. To me, it’s amazing to see the journey of all the participants.”
Startup life is unpredictable. In the YES!Delftstartup incubator we believe in sharing successes as well as failures. We want fellow entrepreneurs to inspire each other and learn from each other. By telling their stories on a case by case basis, you can learn about all the different (and sometimes wholly unexpected!) things you might encounter on your startup journey.
Adeezy is a SaaS-startup from the YES!Delft AI/Blockchain Validation Lab. They are focused on building a platform where brands and agencies can plan and execute cost-effective social media campaigns. Adeezy uses the latest technological solutions such as Blockchain and Artificial intelligence to deal with problems in current online marketing, such as ad fraud, transparency and aversion to advertising.
The eleventh hour
After Adeezy’s initial investor ended up being unable to deliver right before the holidays, they had to re-start the arduous process of searching for new investors. Then, after the New Year, when Adeezy was in the process of finalizing a new investment, the deal fell through at the eleventh hour. This left the team without funding while developing their product – and the bills were due.
“It was a Thursday night, and things were looking pretty bleak for us. The next morning we were meeting with an investor, but we didn’t expect much of it – it felt like a last-ditch attempt. That Friday morning the rollercoaster began, and the one-minute pitch we perfected in the Validation Lab proved to be the key.”
Marco Berkheij, Adeezy co-founder
The Friday morning investor meeting proved to be successful, even though it didn’t provide all the funds Adeezy needed. However, because they were in the YES!Delft AI/Blockchain Validation Lab, Adeezy had access to all the YES!Delft services.
One of those services is YES!Funded. On the advice of startup trainer Noor Figdor, Adeezy got in touch with Investment Director Jan Geert van Hall. They met on Friday before noon, pitched their story, and Jan Geert immediately referred the team to an investor meetup in Amsterdam that same afternoon.
“While is it extremely unique to find funding so quickly- within the space of a day – it speaks volumes about the quality of the company, the team, and their pitching skills. At YES!Funded we have quick access to the right investor networks for our startups, a benefit of being with such a prestigious organization as Yes!Delft.”
Jan Geert van Hall, Investment Director
In the YES!Delft AI/Blockchain Validation Lab the Adeezy team had perfected their pitching skills with startup trainer Noor, and so was more than ready with a strong and relevant proposition for the investors. And it paid off – 12 out of 15 attending investors visited Adeezy’s breakout session and showed interest in potentially investing. The Adeezy team went home that evening, satisfied their startup journey would continue.
“During our training in the YES!Delft AI/Blockchain Validation Lab the Adeezy team did great with their pitch – they worked hard, and we challenged them to condense their story and highlight the strength and relevancy of their proposition. This success goes to show the importance of a fantastic pitch, and how much of a difference it can make.”
Noor Figdor, Startup Trainer
YES!Funded is a YES!Delft service launched in January 2019. The service is aimed to assist entrepreneurs in planning their financial strategy and seeking funds. Do you want to know what YES!Funded can do for you? Visit the website!
About AI/Blockchain Validation Lab
The AI/Blockchain Validation Lab is a unique YES!Delft program, based in the brand new Digital Hub YES!Delft The Hague. During this unique two-month ‘pressure cooker’, aspiring entrepreneurs discover the business potential of their ideas. The part-time program helps participants to explore and validate their ideas, product/market fit, and business model while enabling them to continue to work on their business. Participants also get access to the extensive YES!Delft ecosystem of experienced mentors, investors, corporate partners and launching customers.