Being an EIT Health veteran, we at munevo have been through multiple EIT Health programmes, but this is our experience with the EIT Health Catapult. I hope you will enjoy the read.
First of all, we always wanted to join the EIT Health Catapult competition and in the EIT Health ecosystem, if you want to reach the next milestone, find the next big investor or connect to the EU network on a bigger scale, then the Catapult is your chance to do it. Before applying to the competition, we were already part of the EIT Health family, having won the Headstart competition in Germany and taken part in the validation labs. Catapult was then our next chance to be on the EU-wide stage and convince people of the potential of our solution.
This is how it all happened for Munevo.
1. Stage One – The SHIP event
The journey starts with the regional selection for the competition and for us, that was the EIT Health SHIP event. The most important thing you need to know about this event is: pitch, pitch, pitch. If you pass the online evaluation phase, start preparing your pitch immediately. Luckily, EIT Health provided us with training and supported us in the process. Looking back at it now, it was a nice week in Heidelberg, meeting the other startups, networking and most of all, learning. For us, the training was very straightforward and the feedback helped us create a high-quality pitch. The actual demo day was organized during the EIT Health SHIP event. Imagine pitching in front of the EIT Health network while the ship is sailing along the Neckar. Luckily, we did well and we were selected as one of the 6 regional finalists.
2. Stage Two – San Sebastian
Last year, the MedTech semifinals took place in San Sebastian. After a whole day of travelling, we arrived at the semi-finals and were very excited since it was a place that we have never been to before. My tip: plan some time for sightseeing if you can. Unfortunately, we did not have so much time since work duties were calling. We had again 1-1 practice as well as dedicated mentor feedback to prepare for the big stage on the last day. We were warmly welcomed by the EIT Health Spain team and it was an amazing opportunity for us to understand the ecosystem in this part of Europe, as well as get exposure to multiple investors and stakeholders. And this is the best thing about the semi-finals, a line-up of networking, collaboration opportunities and seeing the best of MedTech, BioTech and Digital Health from Europe. Our pitch went great and we were selected as finalists.
3. The last stage – Paris
Last but not least it was Paris where the EIT Health Summit took place in 2019. We were pretty excited as many things were happening at the same time. Last preparations for the pitch, the possibility for exhibiting during the summit and after-events in out-of-this-world palaces. To our surprise, even before the finals, there was another selection happening behind the scenes so that not all startups got the chance to pitch on the big stage. Unfortunately, this was also the end of our journey, as we did not pass the final filter and got on the big stage. But the presence itself at the Summit is a win by itself. Our product Munevo Drive was part of the Summit exhibition and visitors had the opportunity to take a closer look at it and meet our team on the spot.
My recommendation would be to be prepared to invest your time. This is a competition with three phases, including in-depth support for pitching and understanding of startup concepts, spanning over one year. Nevertheless, totally worth your time.
For Munevo, the main takeaway from the programme was that it enabled us to grow our reach from local to the European level. We pitched in front of many investors and had the chance to get first-hand feedback. Even if there is time that you need to invest, you still get much out of it, without even winning in the finals. Munevo is now more than happy to be part of EIT Health and continue our journey with more programs such as EIT Health BRIDGEHEAD Global or Gold Track as we moved from early-stage to the growth phase. Munevo right now helps people in more than 5 countries and we are looking to grow our team internationally as well as raise our next funding round. If you want to support our work, we are currently running a crowd-funding campaign at https://www.aescuvest.de/projekt/munevo/.