Future of Healthcare Founder Residency

A partnership between the Roux Institute and Maine’s premier healthcare systems to drive innovation

Designed in partnership with Northern Light Health and MaineHealth, the Roux Institute’s Future of Healthcare Founder Residency is the first-of-its-kind in Northern New England. The Residency is turbocharging Maine’s growing healthcare technology industry by bringing 30 early-stage HealthTech companies to the state over the next three years.

We’re now accepting applications for the first Future of Healthcare Founder Residency cohort, beginning in March 2023.

Having directors of partnerships, research, and entrepreneurship in the same space means we can solve problems and change lives. To do my work here in Maine with these industry leaders, there’s the potential to touch a huge number of Mainers.

Rai Winslow

Director of Life Science and Medicine Research, The Roux Institute

A testing ground for your innovation

Founders benefit from our exclusive access to partner healthcare systems Northern Light Health and MaineHealth, which together serve over 90% of Maine households, as well as our network of payers and investors in Healthcare. Test your innovation, talk to the right clinicians, and get connected to payers to understand your customer need, improve your technology, and create a go-to-market plan for your innovation.


 

Program Details

A $50,000 investment and direct access to the top clinicians and healthcare experts

The year-long Future of Healthcare Founder Residency is designed to support digital health, healthcare technology, biotech, and clinical innovation founders at the earliest stages of their entrepreneurial journey.

Founders will work out of the Roux Institute’s cutting-edge innovation hub in Portland and have direct access to Northern Light Health and MaineHealth clinicians for mentorship, subject-matter expertise, and to serve as testing grounds for their technologies.

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.

Founders who are selected and receive investment will be co-located at the Roux Institute for 12 months (beginning March 2023).

 

The Residency is divided into three phases throughout the year.

 

Phase 1: Connections (2 Weeks)

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.

Phase 2: Intensive (10 Weeks)

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.

Phase 3: Build and Scale (9 months)

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.

  • Healthcare Partners

    Breaking into the healthcare ecosystem is hard – we have the connections to make it easier.

     

  • Investment

    $50,000 investment in your company to help you accelerate your growth and hit your milestones.

     

  • Peer Community

    Join the Roux Institute’s network of over 26 portfolio companies to help navigate common challenges in real-time.

     

  • Programming

    Curated workshops and Founder Stories from experts and successful CEOs on everything from product-market fit to fundraising, specifically designed to help first-time founders succeed.

     

  • Space

    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.

     

  • Partner Benefits

    Access to over $300,000 in credits and discounts from our partners at AWS, Google, Mixpanel, Zendesk, Vanta, Apollo.io, and more.

     

Key People  

  • Susan Ahern

    Vice President of Innovation, MaineHealth

     

  • Paul Bolin, MBA, SHRM-SCP

    Chief People Officer, Northern Light Health

     

  • Nancy Brown, MBA

    General Partner, Oak HC/FT

     

  • Jonathan Bush

    CEO, Zus Health
    Founder, athenahealth

  • Ben Chesler

    Director of Venture Creation and Acceleration, The Roux Institute

     

  • Lori Dunivan, MS, RN, BSN

    Vice President, Regional Nursing Informatics Officer, Northern Light Health

     

  • Todd Haedrich

    CEO, Optimize Health

  • Aileen Huang-Saad, PhD, MBA

    Director of Life Sciences and Engineering; Associate Professor of Bioengineering, The Roux Institute

     

  • Philip Licari, MBA

    Former Vice President, Operations, Mass General Brigham Innovation Group

     

  • Catharine McLaren, PhD, LCSW

    Vice President, Talent and Diversity, Northern Light Health

     

  • Jennifer Monti, MD

    Health Tech, Meta
    Cardiothoracic Surgeon

     

  • Tom Torre

    CEO, Bend HSA
    Serial HealthTech Entrepreneur

     

  • Rai Winslow, PhD

    Director of Life Science and Medicine Research; Professor of Bioengineering, The Roux Institute

     

  • David Wennberg, MD, MPH

    Serial Health Tech Entrepreneur
    Former CEO, Quarter Health

  • Chris Wolfel

    Associate Vice President, Entrepreneurship & Venture Creation, Northeastern University

     


 

Important Dates

Applications for the March 2023 cohort are now open. Sign up for updates and more information below.

 

March 2023 Cohort  

  • Application Opens

    September 30, 2022

     

  • Application Closes

    November 30, 2022

     

  • Program Start Date

    March 2023

     


 

FAQs

 

What support does the Founder Residency offer?

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.

What does the selection process look like?

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%.

What are the terms of the investment?

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.

Does The Roux Institute take an IP stake in the company?

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.

How is this different from an accelerator?

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.


 

Get in Touch

Interested in the Roux Institute Founder Residency? Please complete this form and our team will contact you with more information.