Berkshire Health Technology Challenge (BHTC)
Four teams compete for $25,000 cash and 4 months of incubation at Lever.
The Berkshire Health Technology Challenge (BHTC) will award $25,000 of equity-free seed funding to the startup that presents the most scalable and investable business model based on health technology. The funded startup will be incubated at Lever for four months at no cost. Lever will provide access to top leaders within the health and technology industries as mentors, one-on-one coaching, and intensive weekend workshops.
Application Phase: November 1st - January 2nd
Teams that wish to participate in the Challenge will need to apply by submitting an application found here. We’re happy to help with the application process. Four finalists will be selected from among the applicants and invited to participate in the Workshop Phase.
Workshop Phase: January 16 - May 9th
Finalists will refine their ideas and optimize their funding potential. They will participate in mentoring sessions, including three weekend workshops, to help advance their business models. Workshop topics include:
- Lean Startup
- Customer Development
- Growth Strategies
Incubation Phase: May 13th - August 30th
The winning team will develop their product or service while working full time in North Adams. In addition to the $25,000 equity-free cash prize, the winner of the competition will receive four months of no-cost office space at Lever, and fundraising and networking support from the Lever staff.
The winning team receives:
- Cash: $25,000 equity-free. To receive the award, teams must participate in the 4 month incubation period.
- Incubation: 4 months of office space at Lever, mentoring, fundraising support, and housing.
Runner-up teams who demonstrate progress, market potential, and coachability may also be awarded incubation resources at Lever.
Companies at any stage of development will be considered, from “just an idea” to enterprises already generating revenue. Only companies with less than $500,000 in annual revenue are eligible.
Local Asset Leverage
The proposed or current business must leverage an existing asset in Berkshire County within their model. Although entrepreneurs must specify asset(s) based in the Berkshires, “asset” will be broadly interpreted. The asset could be another company, a space, a program, a natural resource, or a key supplier/buyer.
To receive award funding, companies must be scalable with high growth potential and can generate a 10-fold return to investors. While we love small, owner-operated "lifestyle businesses,” these will not be eligible for the BMIC.
Business models must plan to develop products or services in the healthcare industry.
Teams must work full time at Lever during the Incubation Phase.
Key 2018 Dates
- November 1st: Applications open
- December 5th: Information session 1
- December 19th: Information session 2
- January 2nd: Application deadline
- January 16th: Finalists announced
- February 16th: Workshop 1
- March 16th: Workshop 2
- April 13th: Workshop 3
- May 9th: Challenge Finals/Award Announced
- May 13th - August 30th: Incubation Phase
For questions or information, please contact Brent Filson at firstname.lastname@example.org