Maryland-based businesses working within the digital health, biohealth and life sciences sectors could receive tailored support on how to capture early sales revenue.

Johns Hopkins University (JHU) and University of Maryland, Baltimore (UMB) have teamed up with incubator Betamore to launch the Trajectory Next accelerator aimed at helping startups generate early sales revenue.

Trajectory Next will be funded by state-owned economic development agency Maryland Technology Development Corporation (Tedco), through its Incubation Challenge department. 

JHU and UMB will participate through their respective tech transfer offices, Johns Hopkins Technology Ventures (JHTV) and UM Ventures.

The 12-week program will be open to Maryland-based businesses, or those willing to relocate, and will focus on the digital health, biohealth and life sciences industries. It will focus on training startups in developing revenue streams early on.

Five startups will be selected to participate from April 1 until June 15 2018, with the cut-off date for applications set for February 19. The accelerator will include weekly, three-hour workshops around topics such as sales channels, pilot programs and market development.

Startups must already have graduated from another accelerator or similar initiative to be eligible, and should be able to demonstrate an ability to define metrics and milestones, as well an understanding of how customer segments work and any obstacles to product adoption.

Trajectory Next will connect participants with potential customers and advocates who could assist with revenue generation. Experts from each of the accelerator’s founders and external consultants will also be available.

Megan Wahler, program manager of JHTV’s FastFoward innovation hub, said: “Many accelerator programs focus on helping startups perfect the investor pitch.

“In our experience, startups do not get enough help with the customer pitch. Our weekly training sessions will fill that gap and get companies over the early sales planning hump.”

Jim Hughes, co-director of UM Ventures and vice-president of UMB, added: “Even the best companies exiting accelerators and equipped with seed funding require ongoing support.

“Through Trajectory Next, we will help companies develop revenue streams through hands-on training and by making important connections to our experts and resources.”