Future of Healthcare Founder Residency

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.

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.