The Association of British HealthTech Industries (ABHI) has announced that applications for the ABHI US Accelerator 2024 cohort are closing in mid- October – with nearly 50% of places taken already.
The programme is designed to empower UK healthtech innovators seeking to expand and strengthen their presence in the United States, fostering transatlantic collaborations and trade.
Now in its sixth successful year, the ABHI US Accelerator is aimed at UK medical device, diagnostic and digital health companies looking to grow in the US healthcare landscape. The 2024 programme is scheduled to run from January 2024 to December 2024, and will showcase the excellence of the UK's healthtech industry to the US market.
Tailored as a launchpad for UK early-stage companies all the way up to more established SMEs already in the US market, the programme offers an opportunity for companies to define and strengthen their US strategy. It also allows companies to de-risk market entry and grow their US business by utilising ABHI’s advice, expertise and connections within the US.
Through the programme, participants gain access to ABHI's strategic engagement network, mentorship from a diverse network of in-market specialists, and the resources, guidance and support required to launch and scale in the US throughout the year.
Key amongst this is access to ABHI’s year-round programme of trade missions across the US – a series of week-long visits developed to provide access to senior leaders, clinicians and procurement teams from world-class hospital systems across multiple states.
Paul Benton, managing director, International, ABHI, said “Our programme empowers UK companies in the healthtech space with the essential resources, guidance and expertise needed for a successful US market entry. We are immensely proud to embark on our sixth year, offering comprehensive support year-round for ambitious businesses with proven healthcare solutions seeking to expand their US business. It is a unique opportunity to forge top connections to quickly establish a presence in the US, receive mentorship from an international team that understands navigating both sides of the Atlantic, and tap into our strategic engagement network to secure vital contacts.
“Our aim is to support them in engaging with the right stakeholders within the US's world-class health and life sciences ecosystems, while gaining invaluable market insights to refine and achieve their export goals."
Working with ABHI’s international team, each company who joins the ABHI US Accelerator programme will enjoy a bespoke 12-month plan to support their individual US market entry strategy and this tailored plan is boosted by access to an expansive network of in-market experts.
Throughout the year, participants will embark on exclusive week-long trade missions to key life science states in the US, providing them with prime opportunities to engage with key stakeholders aligned with their company objectives. These missions will serve as platforms to introduce innovative UK healthtech solutions to the US market. Meetings be held with senior leadership from US hospital systems such as HCA Healthcare, Ascension Health, Baptist Health and Ardent Health Services, group purchasing organisations (GPOs), distributors, investors and procurement teams.
The programme also facilitates engagement with supporting organisations like the Greater Memphis Chamber of Commerce, promoting networking opportunities, knowledge exchange, and access to critical resources.
George Costa, founder and managing director, Intelligent Fabric Technologies, a member of the 2023 cohort, said “Across ABHI’s marketing materials, they promise to provide access to a ‘strong network of hospital, clinical and supply chain leader across the USA’. This cannot be more accurate, and in fact, I cannot recall an ABHI meeting with a US health system that did not involve C-suite representatives and leaders of the organisation. The ABHI US Accelerator is definitely the best value for money we have received from a marketing spend in a long time.”
The first mission for the 2024 class of ABHI US Accelerator companies will take place in Texas, followed by visits to Tennessee, Minnesota, and Florida throughout the remainder of the year.
The 2024 ABHI US Accelerator programme is sponsored by international legal firm DAC Beachcroft (DACB), Healthcare Innovation Consortium (HIC) – a digital health and social care agency committed to advancing innovation in healthcare – and legal and business consulting firm, Wilson Sonsini.