As a pioneer when it comes to collaborating with digital health start-ups, Bayer is now taking the next step. Instead of one-off startup programs, it is now focusing on collaborating in specific digital health focus areas, e.g. digital therapeutics, AI for drug discovery, and patient engagement platforms to name a few. To do this, Bayer is combining the G4A programs and concentrating on longer-term collaborations and investments. "The digital health ecosystem has matured over the years and there are some very well developed start-ups across the value chain. We wanted to simplify the process for entrepreneurs to work with Bayer and scale innovative solutions together, faster. That's why it's time to take the way we collaborate to the next level," says Eugene Borukhovich, Global Head of Digital Health at Bayer.
The three existing programs (Accelerator, Dealmaker and Generator) are being combined to form G4A Partnerships, a joint initiative aimed at start-ups in the health care sector at various stages of development. Specific business challenges will be defined for which the start-ups can put forward their proposed solutions. The most suitable approaches will then be developed further in collaborative teams with Bayer. The cooperation will be underpinned by a letter of intent. Not only will the start-ups be given one-time initial funding (EUR 50,000 to EUR 100,000), they will also receive additional payments when jointly defined milestones are reached. The first business challenges will be announced at the beginning of April.
"For us, it's all about developing new health solutions that can change the experience of health," says Dr. Zsuzsanna Varga who's heading G4A Partnerships. "We're convinced that long-term collaborations with digital health companies sharing the same passion and vision are the best way to achieve this."
About G4A
Bayer is combining the Group's digital health initiatives under the name G4A (formerly Grants4Apps). In addition to identifying new technologies, business models and market trends, these initiatives also involve collaborating with start-ups. Since its launch in 2013, Bayer has supported over 149 digital health companies. This has resulted in 29 direct collaborations with companies such as Agamon, KinAptic,Turbine, and xbird. Bayer now operates G4A in 12 countries, developing and promoting collaborative health care projects around the world. G4A.Health
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros.