EIT Health partners with 1Mby1M virtual accelerator to train more than 100 entrepreneurs

Announcement made at European Health Catapult semifinals

European Health Catapult Digital Health Semifinalists will receive scholarships worth $1 000 each for a one-year training from the Sramana Mitra’s famous One Million by One Million accelerator thanks to a partnership with EIT Health that was announced by Sramana herself during the Semifinals, held 10 October 2018 in Erlangen, Germany.

Through the partnership, EIT Health will also fund three-month One Million by One Million (1Mby1M) scholarships, each valued at $99 per month, to a selection of 100 digital start-ups that did not make it to the semifinal but still show great promise.

Silicon Valley-based serial entrepreneur Sramana founded 1Mby1M, the world’s first virtual accelerator, with the goal of helping 1 million start-ups get their first $1 million.

“As Europe’s largest consortium dedicated to health and one of the largest Accelerators in the health domain that doesn’t offer start-ups its own physical space, EIT Health did a competitive analysis on other global players during its initiation phase. Within this strategy we found a great example, One Million by One Million, (1Mby1M), a global virtual accelerator founded in Silicon Valley by Sramana Mitra,” said Kurt Höller, Director of Business Creation at EIT Health. “Their aim is to nurture a million entrepreneurs to reach a million dollars each in annual revenue and beyond. Today we join forces. We are very proud to announce our partnership with 1Mby1M: From now on we will jointly support more than 100 European Digital Health Startups per year with their business model development and access to the Silicon Valley ecosystem”.

Find out more abou European Health Catapult here.