European startup accelerator Startupbootcamp has launched its latest initiative, HealthXL in Dublin with support from both IBM and GlaxoSmithKline. The accelerator fund is designed to aid entrepreneurial teams and start-ups in bringing new and innovative technologies to the healthcare and wellbeing sector. The programme will select 10 teams who will receive a micro-investment of €15,000 ($19,500), advice and guidance from health and tech experts, office space, and access to over €160,000 in products and services from Startupbootcamp’s sponsors and partners. Finalists who remain in Ireland will offered funds of up to €0.5m from Enterprise Ireland. The program will end next May when the teams will pitch their ideas and business model to more than 300 angel investors and business mentors during an Investor Demo Day in Dublin. Speaking at the HealthXL launch, sponsor GlaxoSmithKline’s David Gibson, head of innovation, global manufacturing and supply said: “As one of the world’s leading research based pharmaceutical and healthcare companies, we look forward to supporting new start-ups to gain the expertise and business acumen to go beyond the early stages towards growth and sustainability.” For the fund, Startupbootcamp and HealthXL, are partnered with GlaxoSmithKline, the London headquartered multinational pharmaceutical corporation, and are sponsored by: IBM through its corporate venturing unit IBM Venture Capital Group. The National Endowment for Science, Technology and the Arts (NESTA), UK government backed independent endowment which invests in innovative tech startups. ByrneWallace, one of Ireland’s biggest Law firms. PHS (Personal Health Solutions), a Netherlands based venture capital firm which investments in startups introducing innovative technologies to the healthcare and wellness market Enterprise Ireland, the state agency managing government funds responsible for supporting the development of manufacturing and internationally traded services companies. Reckitt Benckiser, a British multinational consumer goods company manufacturing healthcare products. And BLG Chartered Accountants, an Irish accounting firm.

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