A partnership between the Roux Institute and Maine’s premier healthcare systems to drive innovation
The year-long residency is designed to accelerate digital health, healthcare technology, biotech, and clinical innovation founders at the earliest stages of their entrepreneurial journey. Founders will benefit from the opportunity to engage with experts from the program’s partner healthcare systems, Northern Light Health and MaineHealth, which together serve over 90% of Maine households. They’ll also have access to embedded venture capital investors for key insights, as well as collaboration opportunities with cutting-edge researchers in AI and data visualization to advance their technologies.
Applications for the 2023 Roux Institute Future of Healthcare Founder Residency cohort are now closed.
"If you are a healthcare venture, this is where you want to be."”
Founder and CEO, 119
Future of Healthcare Founder Residency Participant
A testing ground for your innovation
In addition to a $50,000 investment, founders in the residency have access to curated programming and mentorship from top experts and entrepreneurs in the field, free in-house business, design, strategy and legal services, and over $300,000 in free and discounted services. Founders are set up with resources and connections to understand their customer needs, improve their technology, test their innovations, and create a go-to-market plan for their ventures.
One of the biggest barriers for health tech startups is access to experts in the field to conduct customer discovery and test innovations. We select companies that have the potential for high-growth and scalability, but also can make an impact on some of the most pressing challenges healthcare is facing.
Solving For Real Problems
“We need enabling technology. We need innovation. We need to think differently.” – Chris Thomson, Chief Medical and Transformation Officer, MaineHealth
Maine, being one of the oldest and most rural states, presents unique opportunities for addressing healthcare access in innovative ways, overcoming rural workforce challenges, and redefining community care. This program’s distinctive value lies in providing companies with the chance to make a tangible impact on both patients and the workforce in Maine.
“We need bright and dedicated minds in the game of creating new solutions to old problems. Finding companies that can help us solve those problems. That’s what it’s really about.” – Hugh Jones, Chief Strategy Officer, Northern Light Health
Read how three of the Future of Healthcare Founder Residency companies are working with our health system partners.
A $50,000 investment and the opportunity to learn from and collaborate with top clinicians and healthcare experts
This year-long residency offers curated programming to address the specific challenges health tech startups face, whether that’s finding the right customer, building out AI solutions, understanding your regulatory pathway, navigating clinical trials, raising capital, and more.
In addition to programming, founders are supported by dedicated Entrepreneurs-in-Residence, expert mentors from Northeastern University’s McCarthy Venture Mentor Network, AI solutions experts, clinicians, healthcare researchers, and expert staff.
Key program benefits:
- $50,000 investment
- Access to a vast network of dedicated mentors
- Exposure to two healthcare systems, serving 90% of the Maine population
- Curated programming, designed for health tech companies to develop their go-to-market strategy
- Assistance in market research, investor reporting, graphic design, web development, and data analysis
- Opportunity to engage with expert AI researchers and solutions designers
- The power of a global university system
“I’m in a position to dream bigger, because we’re turning all those dreams into reality right now.” – Kam Firouzi, CEO, Co-Founder, Althea
The Residency is divided into three phases throughout the year.
During the first two weeks of the Residency, founders will:
- Be introduced to potential mentors through our unique mentor-matching process;
- Assemble a team of three Lead Mentors for their venture
- Go through team-building exercises with other Residency founders;
- Familiarize yourself with all the resources Northeastern, The Roux Institute, and the Founder Residency have to offer;
- Get acquainted with your new office and maker-space facilities.
The time commitment for the first two weeks is approximately 15-20 hours per week. It’s intense but fast.
The following three months of the Residency, founders will spend time working with their mentors and attending workshops to continue iterating on their ventures. Founders can expect to:
- Meet with their mentor team for 1-hour per week;
- Attend 2-3 hours of workshops per week;
- Meet with subject-matter experts for 1 hour per week;
- Participate in other team building and program events.
The time commitment for the 3-month intensive is approximately 6-8 hours per week.
During the last nine months of the Residency, Founders will work full-time on their ventures. They will meet with their mentor team bi-weekly or monthly, and be connected to resources as needed by our Portfolio Concierge. During this time, we work with companies to raise the appropriate type of outside capital, so they can continue to grow their ventures. Often this is a seed equity round, but there are other options for financing as well.
The time commitment for the 9-month intensive is approximately 1-2 hours per week.
Breaking into the healthcare ecosystem is hard – we have the connections to make it easier.
$50,000 investment in your company to help you accelerate your growth and hit your milestones.
Join the Roux Institute’s network of over 54 portfolio companies to help navigate common challenges in real-time.
Curated workshops and Founder Stories from experts and successful CEOs on everything from product-market fit to fundraising, specifically designed to help first-time health tech founders succeed.
Work out of the Roux Institute’s cutting-edge, open-concept campus in downtown Portland, Maine, surrounded by some of the top researchers and experts in AI, Life Sciences, and Data Visualization.
Access to over $300,000 in credits and discounts from our partners at AWS, Google, Mixpanel, Zendesk, Vanta, Apollo.io, and more.
Current Portfolio Companies
The following companies are currently participating in our inaugural Future of Healthcare Founder Residency cohort, which launched in April 2023.
Althea Health is developing an artificial intelligence virtual healthcare assistant that aims to ease staffing and burnout faced by healthcare providers.
Apriqot is creating a “community magnifying glass” that produces dynamic population health estimates to help highlight the factors behind inequities in health outcomes and, ultimately, inform policy.
Empallo is an MIT spinoff that is creating machine learning models that will ultimately produce more personalized treatment plans for patients with cardiovascular diseases and improve clinical trials.
EmTech Care Labs is developing a digital platform, Care-Wallet, to assist families in managing home-based long-term care.
Mother of Fact is a digital health platform provided to women’s health clinics that connect their patients with registered dieticians.
PragmaClin is a cloud-based patient monitoring and assessment tool to help neurologists assess the progression of Parkinson’s Disease in their patients.
Radiolife is a startup developing a medical device called Cube Scan that can detect the presence of viruses, bacteria and even cancer cells in under 20 seconds.
Stratos Medical is an early stage company that is working on its first product, TrackSmart, a device that aims to make vascular access easier and less damaging during hemodialysis sessions.
119 is a communication tool designed to guide bystanders through the appropriate response in emergency situations.
Nancy Brown, MBA
General Partner at Oak HC/FT
Karen BuddInnovation Manager at MaineHealth
Chief Executive Officer at Optimize Health
Hugh Jones, MBA
CSO, Senior VP at Northern Light Health
Philip Licari, MBA
Entrepreneur In Residence at the Roux Institute; Part-time faculty member at Babson College and Olin Graduate College of Business; Ret. Vice President of Operations at Mass General Brigham Innovation
Independent Director at Inovio Pharmaceuticals; Maine Angel
Professor of Practice and Director of Professional Programs
Jennifer Monti, MD
Cardiologist and Research Scientist at Meta
Lizzy MulcahyDirector of Telehealth at MaineHealth
Joe PowersManaging Director at Maine Venture Fund
Co-Founder and Partner at The 6ixth Event Capital
Sherry SmithVP, Operational Transformation at AVIA
Tamara St. Claire, PhD, MBAPresident, Primary Care Delivery Services at MaineHealth
Jim StricklandDirector of MDI Bioscience at MDI Biological Laboratory
CEO, Cofounder, and Board Member at bendHSA
ret. Quartet Health, High Value Healthcare Collaborative, Health Dialog
The Roux Institute at Northeastern University’s Future of Healthcare Founder Residency is made possible by:
We focus on what matters most to early-stage companies.
In addition to a $50,000 investment, founders in the Residency have access to curated programming and mentorship from top experts and entrepreneurs in the field, free in-house business, design, and legal services, over $300,000 in free and discounted services, and a peer community of over 36 Roux portfolio companies that have raised over $20MM in the past 24 months to accelerate their growth.
We provide hands-on, individualized support to help your company find product-market fit and hit the milestones you need to raise your next round of funding. Furthermore, we have an extensive network of mentors, subject-matter experts, payers, and investors in the healthcare space that we leverage for your benefit. We also have deep connections with the largest healthcare systems in Maine, which provides you the opportunity to pilot your innovation, engage with clinicians, and explore research collaborations and clinical trial opportunities.
Companies submit an initial application online. We review those applications and schedule due diligence interviews with the most promising companies. Once we have narrowed down applications, we engage subject-matter experts in a comprehensive process to identify finalists, who then pitch in front of our Advisory Committee for a spot in the program. We typically have an acceptance rate of ~10%.
We take a 5% common equity stake in each company (the same type of equity you have as a Founder). This is in exchange for a range of services and program benefits we provide, including the $50,000.
No, we do not. Whatever IP you bring to the program, you continue to own outright. In the event your company conducts research with Roux faculty or any of our partners, the terms of the IP would be dictated by a separate agreement.
We believe that healthcare is a specialized sector that requires a tailored approach to company growth. As opposed to a three-month sprint, we provide a full year to ensure the progress you need to grow your venture. We work hand-in-hand with you every day as an extension of your team, along with the in-house Business, Design, and Legal services we provide. We integrate deeply with our founding partners in the healthcare space to give you access to their networks and systems as well as ours.
In the News
Keep up-to-date on the latest successes coming out of the Future of Healthcare Founder Residency.
Nine Health Tech Companies Pitch Their Innovations at the Future of Healthcare Venture Showcase
Three Months In, Founders Poised to Make a Big Impact on Maine Healthcare
The Roux Institute’s Future of Healthcare Founder Residency to jumpstart Maine’s health tech industry
Get in Touch
Interested in the Roux Institute Founder Residency? Please complete this form and our team will contact you with more information.