Gold Track seeks to optimise and fast forward the growth of emerging healthcare companies that are backed by solid science and technology as well as strong, visionary and committed management teams.
Accelerated development of dynamic life science companies
What is the Gold Track programme?
Gold Track is a competitive, one-year programme focused on the accelerated development of dynamic life science companies. Guided by an Expert Council comprised of successful entrepreneurs and industry executives in the healthcare sector, this milestone-oriented programme is designed to help companies achieve ambitious business goals within short timelines.
The benefits of being GOLD
It’s all about the people – the synergistic relationship between a company and the Expert Council members is what differentiates Gold Track from other start-up programmes in Europe. This combined with access to experienced Mentors who help companies create individualised strategic plans as well as the Gold Card which allows Gold Track companies to benefit from priority access to all programmes within EIT Health Accelerator, make the Gold Track programme a unique opportunity.
What makes a company GOLD?
How does Gold Track work?
Participation in the program is highly-competitive and based on “championship” from EC-members – the company needs to convince at least one EC-member to commit time and support to the company through their vote. Once a company has been selected, the program brings together an additional curated group of mentors with deep domain expertise in the company’s field. These mentors work together with the EC and the company leadership team to help reflect on the current company milestones, and support with the acceleration of achieving the company’s goals. Mentors help devise and execute a tailored strategic plan for the company, adapted to the company’s stage, momentum and needs. Importantly, every interaction is customized to the company – there are no classes, bootcamps, or non-specific start-up advice in the program.
Progress on the company’s strategic plan is discussed with the EC every four months to evaluate achieved milestones. If a team convincingly demonstrates its ability to deliver results, the mentors may also become advocates for the company and provide valuable introductions within their networks. In addition to the customized mentorship program, Gold Track companies receive benefits such as priority access to all programs within the EITH accelerator portfolio.
- Applying for the Gold Track program is simple and straightforward: companies need to fill out a short application questionnaire.
- Up to 10 new applicants are invited to attend a two-day Gold Track Workshop in addition to the current participants. At the workshop, each new company first discusses their technology/ product, business model, and short term goals in 1:1 sessions with EC-members. The following day, the EC provides feedback to the companies during the general assembly, and selects the next cohort of companies. A company enters/ stays in the program, if at least one EC-member champions the company.
- A complete Gold Track program is one-year long and is split into 3 phases (of 4 months) that each begin and end with a Gold Track workshop. The first program phase for selected companies kicks off with a Deep Dive, a half-day meeting to thoroughly reflect on the company’s status quo and to identify and agree on workstreams and deliverables for the company to execute on in the program.
- Throughout each phase, companies execute the agreed workstreams with the support of their mentors. Weekly check-in calls between the company’s leadership team, mentors, and the assigned Gold Track project team ensure that the company stays on track and ambitious timelines are met.
- Companies present their progress at subsequent Gold Track Workshops and only advance to the next phase if their past achievements and plans for the next program phase convince the EC. Even for companies that are not selected to participate in the program, the Gold Track Workshop represents an excellent networking opportunity with members of the EC and other participating stakeholders such as investors and industry partners.
Time: Members of the management leadership team must be available to participate in person at the next Gold Track Workshop and, if selected, at the Deep Dive meeting. Being conscious of the busy schedules of entrepreneurs, all further interactions can be virtual to allow for maximum flexibility. While participation in the program requires dedication and commitment from the leadership team, the work required to succeed in the program is always fully in line with the company’s current strategic priorities for value creation and growth, and thus does not distract leadership teams from focusing on the company’s immediate and top goals.
Financial: Gold Track does not take any equity. Upon selection, companies commit to a small success fee restricted to certain financial events that result in cash proceeds to the company . Further details on the qualifying financial events and success fee are available on request.