BOSTON, October 6, 2021 / PRNewswire / – PharmStarsMT, the first and only pharmaceutical-focused, member-based accelerator for digital health startups, launched its first fall 2021 program. 73 digital health startups from 18 different countries applied to the program, which offers a 10-week educational and mentoring program (PharmaUMT) to help startups better engage with pharma.
The goal of PharmStars is to bridge the “pharma startup gap” by preparing pharma and digital health startups to work effectively together. Through education and mentorship, PharmStars helps pharmaceutical companies and startups overcome barriers to partnering, leading to greater success and faster adoption of digital health solutions that can improve patient outcomes.
PharmStars is a pharmaceutical member-based accelerator. The founding members of PharmStars include Boehringer Ingelheim, Eli Lilly and Company, Novo Nordisk and Takeda Pharmaceutical Company Limited. PharmStars members benefit from priority access to PharmStars startups. Additionally, members can participate in specially designed workshops focused on how pharmacy relates to digital health startups.
“We are delighted with the volume and the quality of the applications we have received. This demonstrates the strong interest that digital health startups have in working with pharma. The range of innovative ideas submitted was really impressive ”says Laura Gunn, Managing Director of PharmStars. The identities of the startups will be made public after the conclusion of the program.
Naomi Fried, the founder and CEO of PharmStars, says the selection of participating startups has been difficult due to the number of high quality applicants. “Because the competition to join PharmStars was fierce, we decided to expand our cohort size from 10 startups to 12 for PharmaU’s first ‘semester'” says Naomi Fried. “We have selected an exceptional and diverse group of innovators and digital health solutions. In line with the theme of the ‘innovations in clinical trials’ cohort, startups have prototypes or commercialized solutions in areas such as recruitment and retention of clinical trial participants, drug adherence, digital biomarkers and real-world data collection.
As PharmaU takes off, startups are excited to get started. “After struggling to navigate the ‘black box’ and complicated organizational chart within pharma, we want to learn how to improve our go-to-market strategy,” said a startup CEO enrolled in the program. Another startup CEO said, “I am very happy to participate in this unique program to better understand and overcome the challenges of working with the pharmaceutical industry on common business goals.
Naomi Fried said, “We see huge potential to help startups bridge the gap between pharmaceutical companies and startups, both through formal education and one-on-one mentoring. This program will transform them. Our pharma members are also eager to learn how to partner more effectively with digital health startups. so they can apply this knowledge in future partnerships with startups. “
Pharmaceutical membership with PharmStars is still available for 2021 and 2022. Registration details for the 2022 cohorts will be announced soon.
PharmaStarsMT is the first and only member-based pharmaceutical focused accelerator for digital health startups. With our vast expertise in the pharmaceutical industry, startups, digital health and innovation, we understand the challenges that the pharmaceutical industry and startups face when looking to collaborate. Our PharmaUMT The program helps digital health startups and our pharmaceutical members ‘close the gap’, leading to greater success and faster adoption of ‘beyond the molecule’ solutions for patients.
Telephone: (617) -333-8723
View original content to download multimedia: https://www.prnewswire.com/news-releases/pharmstars-accelerator-selects-and-expands-2021-startup-cohort-301393708.html