Betamore, Johns Hopkins Technology Ventures and UM Ventures have launched Trajectory Next, a health care startup incubator focused on helping new companies that already have gone through at least one accelerator program.
Trajectory Next launched its application this week, and it will run through Feb. 19. The program is looking for digital health, biohealth and life sciences companies that have successfully completed an accelerator or other similar program, show the ability to define metrics and milestones and can devote three hours per week to on-site workshop time.
A focus of the program will be helping already-formed startups take “the next step.”
“Even the best companies exiting accelerators and equipped with seed funding require ongoing support,” said Jim Hughes, co-director, UM Ventures and vice president, University of Maryland, Baltimore, in a statement. “Through Trajectory Next, we will help companies develop revenue streams through hands-on training and by making important connections to our experts and resources.”
The Trajectory Next program will feature five startups and run for 12 weeks, from April through June.
The program was one of the recipients of $125,000 in funding from the Maryland Technology Development Corporation’s (TEDCO) Incubation Challenge at the fall Entrepreneur Expo.
“The hands-on training support and brokering of connections goes beyond the average ‘accelerator.’ This is a partnership that fully leverages our top universities, venture and entrepreneurship organizations in
Maryland,” says Greg Cangialosi, chairman and co-founder of Betamore, in a statement. “We look forward to working with local startups who are ready to take that next step.”
Trajectory Next will include an adviser group made up of experts from Betamore, Hopkins and the University of Maryland along with external consultants. That group will meet with the startups to help them with their strategic plans, look at their short-term obstacles and set progress benchmarks.
The advisers will also help facilitate introductions to customers and advocates to help the startups get in a position to generate revenue.
“Many accelerator programs focus on helping startups perfect the investor pitch,” said Megan Wahler, the program manager for FastForward at Johns Hopkins Technology Ventures, in a statement. “In our experience, startups don’t get enough help with the customer pitch. Our weekly training sessions will fill that gap and get companies over the early sales planning hump.”