OUR CHALLENGE TO THE START-UP COMMUNITY

Merck Sharp & Dohme Limited (MSD), a global healthcare company that is looking to transform healthcare through innovative solutions, and Wayra Open Future, Telefonica’s digital start up accelerator, are investing in digital innovation in healthcare to address the challenges outlined in the NHS Five Year Forward View¹.

We’re challenging the digital start-up community to create solutions that reimagine how healthcare can be delivered in the United Kingdom to help improve patient outcomes.

Up to a total of £64K will be offered in investment to a selected number of start-ups which will include 50 per cent funds and the rest made up of dedicated acceleration services such as access to a network of mentors, coaches and investors. This will also include office space within Wayra Open Future’s academy in Central London and potentially, access to Telefonica’s customer base (more than 300 million) and MSD’s networks locally and globally.

To read the full vision behind Velocity Health and our complete FAQs

WHY HAVE MSD & WAYRA OPEN FUTURE LAUNCHED VELOCITY HEALTH?

With the NHS facing a funding gap estimated at £30bn (NHS: Closing the NHS funding gap: how to get better value healthcare for patients November,2013)² by 2020/21, both MSD and Wayra Open Future believe that we need to look ahead to the future delivery of innovative healthcare solutions. We want to empower patients to take more control and ownership over their wellbeing and believe emerging digital technologies have a vital part to play in achieving this goal.

We believe accelerating healthcare start-ups will help us do this and crucially, identify new and sustainable ways of delivering patient care now and in the future.

OUR FOCUS FOR 2016

Our focus for the 2016 cohort will be on prevention and preventative healthcare.

In the first programme of its kind in the digital preventative healthcare space, Velocity Health is looking to accelerate a select number of UK start-ups developing products and services in this area.

For more information on preventative healthcare and what Velocity Health defines as a preventative healthcare start-up, please visit the Why has Velocity Health selected Preventative Health as an initial focus? and What does Velocity Health mean by ’Preventative Health’? in the FAQs section below.

WHAT WE OFFER

Investment

Our acceleration programme will give you funding up to £64,000.

Our Investor Network

Wayra’s investor network is an attractive proposition to any start-up and will help scale-up your business.

Office Space

The recently refurbished academy provides the perfect location to grow your business.

Masterclasses

Significant skills development is given through our masterclasses that run throughout the year.

Dedicated Mentors

Our mentor network provides helpful guidance to our start-ups throughout their acceleration.

1:1

To supplement our masterclasses, we organise 1:1 with each start-up to develop their business further.

Coaches

Coaches provide more in-depth special advice to our businesses in a number of areas.

Business Development

Opportunity to leverage both Telefonica’s and MSD’s global footprint.

VELOCITY HEALTH START-UPS 2015/16

Baby2Body

We’re creating a generation of healthier children by helping mothers to live better – from baby to body. Women want to know how to have a healthy baby and how to live healthily during pregnancy and beyond. The abundance of information available is overwhelming and does not focus on the mother, leaving her with unanswered questions about her own fitness, nutrition, and wellbeing. Women often feel restricted rather than enabled during this profound time. A healthy lifestyle during pregnancy has an impact on the health of a woman’s baby and their future development. We focus on the mother, taking a comprehensive approach to her health and wellbeing, giving her inspiration, information and motivation right when she needs it most. Our ultimate goal is to help mothers live healthier and have healthier babies.

Aparito

Aparito combines disease specific mobile apps and wearable technology to empower patients and make sure their doctors get the information they need when they need it. The app and ”wearable” generates real-time and real-world passive monitoring, reducing the need for repetitive tests and ensures more meaningful routine clinic visits.

Pzizz

The most advanced sleep technology in the world. Poor sleep can be significantly detrimental to health. Just three nights of inadequate sleep can dramatically elevate a person’s risk of diabetes. Poor sleep is linked to a 58% increased chance of premature death. Poor sleeps are more likely to suffer from Heart Disease, High Blood Pressure, Cancer, Depression and more. Pzizz induces sleep through the medium of technology. By applying an intelligent combination of voiceover, sound effects, music and binaural beats, our patented algorithm is clinically proven to put people to sleep.

TickerFit

TickerFit is a unique cloud based application which empowers health professionals, enabling them to provide personalised lifestyle interventions for each patient based on their current health status. Tickerfit recently won the ‘Innovation Award’ at the 2015 National Healthcare Conference as well as the ‘Best Abstract for Oral Presentation’ at the British Association for Cardiovascular Prevention & Rehabilitation (BACPR).

RELATED NEWS

Screen Shot 2015-10-14 at 15.24.54
Disruptive innovation for sight loss at #WIRED2015

Oct 14, 2015

Wayra start-up GiveVision – a London-based software company, that started as a face recognition project for Google Glass – will...

mumoActive: a diabetes management app developed by a loving father for his two sons

Oct 05, 2015

As part of Velocity Health, a call to accelerate preventative healthcare start-ups, we’ve profiled Sheldon, a father who created a...

Click Here for all our News

7443535068_f50c53f154_k
MSD and Wayra launch, Velocity Health, the UK’s first digital preventative healthcare accelerator

Sep 24, 2015

Challenging the digital community to reimagine healthcare beyond the 21st century. Programme to address challenges outlined in NHS Five Year...

GET IN TOUCH

FAQs

Our vision for Velocity Health

MSD, a global healthcare company that is looking to transform healthcare through innovative solutions, and Wayra Open Future, Telefonica’s digital start up accelerator, are investing in digital innovation in healthcare to address the challenges outlined in the NHS Five Year Forward View¹. The NHS has a challenge of closing a funding gap that is estimated at £30bn (NHS: Closing the NHS funding gap: how to get better value healthcare for patients November,2013)² by 2020/21. Meeting this challenge is the responsibility of the NHS, healthcare providers and patients alike and will rely heavily on the skills of those who are placed at the forefront of innovation. We’re challenging the digital start-up community to create solutions that reimagine how healthcare can be delivered in the United Kingdom to help improve patient outcomes. We want to do this by nurturing entrepreneurial talent and technological expertise to enable the development of innovative products and services that not only deliver savings and efficiencies to the healthcare system, but will test the capabilities of what’s possible with an initial focus on the preventative health sector in 2016.

Why has Velocity Health selected Preventative Healthcare as an initial focus?

Within the Five Year Forward View¹, the NHS has challenged itself to close a funding gap that is estimated at £30bn by 2020/21 (NHS: Closing the NHS funding gap: how to get better value healthcare for patients November,2013)² It is estimated that the NHS spends only about 4% (Monitor: A call to action: Commission for Prevention October,2013)³ of the NHS budget on prevention programmes and only 6% (Monitor: A call to action: Commission for Prevention October,2013)³ on interventions in early life. Technology is revolutionising how we manage healthcare and digital start-ups in the UK can be at the forefront of this innovation to identify new ways of preventing disease that are essential in responding to the health and economic challenges outlined. As a healthcare company with a long legacy of investing in innovation and R&D, MSD wants to actively invest in these types of businesses and harness the amazing talent that is emerging so that we become equally good at ‘recognising and preventing’ disease as ‘diagnosing and treating’ to help reduce demand for expensive acute services and capacity in the long term.”

What does Velocity Health mean by ‘Preventative Health’?

We define preventative healthcare as the following and include primary, secondary and tertiary prevention: to support individuals to change behaviour, for example, through advice during a consultation; systematic community interventions in schools to reduce childhood obesity; and regulatory actions, such as controlling the density of alcohol outlets. We believe digital technologies can help transform care delivery in the following areas (illustrative and non-exhaustive): early detection & screening; exercise and performance; stress reduction; healthcare education; safe sex practices; dietary and nutritional support; mental, physical, and social rehabilitation; managing pain; mindfulness and restoring the health and functions of the individuals affected by disease.

Why has MSD launched Velocity Health?

MSD has always worked to tackle some of the biggest unmet health needs of our time and has a proud heritage of R&D and innovation. But we don’t want to stop there – we want to continue to transform healthcare through innovative solutions that go beyond the pill to help form smarter, more flexible and potentially future proof processes that can help safeguard patients health. Accelerating healthcare start-ups can help provide patients with more access to healthcare; identify new and potentially sustainable ways of delivering preventative care and crucially, act as a framework for further innovation. Smaller businesses, by virtue of their size and flexibility, are able to ‘pivot’ and change quickly depending on their circumstance and environment. We believe that we can learn a lot from these entrepreneurs and vice versa so that we can analyse and help shape major emerging and important trends in the industry.

Why are Wayra Open Future involved?

We believe that helping people to stay healthy and reaching out to patients is not just the remit ofthe NHS. Preventing ill-health requires partnerships and our goal will only be met through working closely with the NHS, public, private and third sector partners to look at the needs of people and how resources can be best used to meet those needs. In this sense, the power of partnership is key in driving innovation forward. In our 150 years, we’ve built long-term, deeply-embedded partnerships with the NHS – who we’ve been working with since their inauguration – academic centres of excellence and other healthcare providers, who believe in creating an environment which thrives for better patient outcomes. Wayra Open Future also share in that belief. Wayra itself is a start-up accelerator owned by Telefónica Open Future, a global entrepreneurship and investment network, open to partners. Wayra first launched in Latin America and Spain in 2011 and there are now 12 innovation hubs in 12 countries in Europe and Latin America. To date, Open Future has invested over 300m euros in 500 businesses and signed 60 partnerships across 17 counties. In 2015, Wayra in the UK has supported in excess of 100 start-ups, half of which were accelerated through Wayra’s social accelerator programme – the UK’s first accelerator facility for digital technology social ventures. Among those were are number of health-related businesses. From intelligent glasses for the visually impaired, to phone apps identifying possible melanoma, Wayra have created an environment where healthcare start-ups have experienced significant growth and scaled fast. This will significantly increase with Velocity Health launching.

Who will this benefit?

The benefits of this will be felt not only by MSD and those new emerging businesses we’re investing in; the programme will also bring growth to the healthcare sector and the economy with the potential of providing job opportunities and help differentiate the UK from other innovative healthcare hubs. Ultimately, our aim is to improve the way we deliver care to patients and hopefully improved patient experience.

What’s in it for MSD?

We’re looking to run this programme to maximise every opportunity that comes out of Velocity Health. For the start-ups, this means maximising their potential, so they take full advantage of the services on offer as well as the networks that will open up to them. The programme is dependent on their success and our focus will be to ensure they optimise their products and services; build out their teams; attract investment; build credibility; a customer base; enhance their sustainability and scale up fast. In return for the investment made by MSD in partnership with Wayra, MSD will have a right of first negotiation with selected start-up companies. If MSD elects to exercise this right, it will allow MSD to negotiate such reasonable terms that will enable MSD and the start-up to commercialise potential product offerings. There’s opportunity in finding product market fit and sharing value between MSD and the start-ups depending on what problems we need to solve at any one time. The research and innovation potential is very exciting and we can learn a great deal from the start-ups and the process itself. We also envisage using the programme to evoke further intrapreneurship within our own organisation.

Will MSD take equity from the start-up or a share of revenue?

No. However, MSD may exercise the right of first negotiation for potential commercialisation opportunities.

What happens after the acceleration programme ends?

Wayra Wayra Open Future have an active Alumni community, who return each month to provide updates and take full advantage of the networking opportunities available at many of Wayra’s events. They too utilise the academy in Central London to run their own events and hold meetings. Wayra’s ongoing commitment can be measured by the successes seen by companies following the programme. For example, Wayra Alumni Qudini, who graduated from the programme two years ago, recently signed a deal to be the preferred global supplier of queue management services for the Telefonica Group – an opportunity that will see their platform launched across 17 countries. Another example is Yoyo Wallet. The UK’s leading mobile payment wallet recently closed a $10m series A and has seen its operation expand to the United States. It is our belief that those graduating from Velocity Health will go on and make a profound difference and proof-point the potential of what acceleration can do in reimagining healthcare services and delivery. MSD In return for the investment made by MSD in partnership with Wayra, MSD will have a right of first negotiation with selected start-up companies. If MSD elects to exercise this right, it will allow MSD to negotiate such reasonable terms that will enable MSD and the start-up to commercialise potential product offerings. There is also the potential to continue to provide access potentially, access to our networks locally and globally which may help in the scalability of the start-up.

Eligibility

  • You must be developing a digital product or service within the preventative healthcare sector. Full definition can be found within the FAQs.
  • Deadline for submissions is 11:59pm (GMT) on 29th October, 2015.
  • Selection process will take place the week beginning 16th November, 2015. Teams MUST be available on this week for pitches.
  • Winners announced at Wayra’s Demo Day on 25th November.
  • In return for the investment made by MSD in partnership with Wayra, MSD will have a right of first negotiation with selected start-up companies. If MSD elects to exercise this right, it will allow MSD to negotiate such reasonable terms that will enable MSD and the start-up to commercialise potential product offerings.
  • Full terms and conditions can be found within via this link (please ignore deadline dates within this document): https://goo.gl/2AypPB

Reporting Adverse Experiences

To report an adverse experience with a specific MSD product, please call MSD on 01992 467272. You may also report an adverse experience directly to your healthcare provider or to the Medicines and Healthcare products Regulatory Agency (MHRA) directly by visiting https://yellowcard.mhra.gov.uk.

Non UK Residents: Countries outside of the United Kingdom may have specific procedures in place to address reports of adverse events. Please ask your healthcare provider for more information or contact your local health authority.

If you have questions relating to MSD prescriptions, your medical conditions or personal health matters, please contact your physician, General Practitioner (GP) or healthcare provider since he or she is most familiar with your medical condition. MSD cannot respond to questions regarding general medical information or information regarding your specific condition.

SOURCES 1. NHS 5 Year Forward View: https://www.england.nhs.uk/wp-content/uploads/2014/10/5yfv-web.pdf 2. NHS: Closing the NHS fundings gap: how to get better value health care for patients (November,2013) https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/284044/ClosingTheGap091013.pdf 3. Monitor: A call to action: Commission for Prevention (October, 2013) http://www.england.nhs.uk/wp-content/uploads/2013/11/call-to-action-com-prev.pdf