Nova pledge to invest £1.2 million to support health tech startups

News
22/10/2021

Liverpool startup venture builders, Nova, have committed to invest £1,200,000 into early stage health tech startups before the end of the financial year. The plans involve a £300,000 investment into 4 fledgling startups, providing a team and cash to support founders to validate, build and launch their startup over a 9 month period. The funding is open to applications from early stage founders or teams across the UK working on projects in health, wellness and life sciences.


Through Nova’s programme to date startup founders have raised over £14m and gone on to create a range of ingenious health tech businesses that include a hand hygiene monitoring system for Hospitals (Hy-genie), a gamified hearing test for children (Clik) and a hydration monitoring system for care home occupants (Aqauarate).


Nova’s programme starts with an 8 week part-time ‘venture readiness’ programme where founders are mentored to quickly validate their concepts, on board their first users and pitch for investment. Post-investment, successful founders are equipped with a full business team from Nova which includes experienced startup builders working in design, product development, marketing, finance, business strategy and legal.


Nova founder and CEO, Andy Davidson explained:

“Over the past 5 years we’ve made 15 or 16 health tech investments, we’ve got a lot of experience in this sector and it’s something we’re keen to leverage further. We’ve developed successful hardware and software businesses in this space, we know all about the regulatory challenges and pitfalls to avoid, and want to do more to support founders in health tech.

Ultimately there’s a feel good about health tech, we love supporting projects where it’s not just about making money, but where we can really make a difference and improve people’s lives.”


Nova have successfully built and launched over 70 tech startups, with a portfolio value growth of more than 80% year on year for the past 10 years. They have recently expanded their operations to Southeast Asia where they have now invested in and are supporting startups in Singapore and Kuala Lumpur.


Interested start-ups can find out more information on the Health Tech programme page of the Nova website. Applications must be made by 31st October.