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What we do

We invest money and experience in early stage medtech companies

The Blue Sparrows MedTech Fund invests money and experience in very early-stage medtech companies. The fund is unique in the fact that besides 2 experienced fund managers, a total of 7 young entrepreneurs in medical technology are part of the fund. The aim is to use their recent experience for the benefit of the fund’s investments.

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Through active coaching of the 7 medtech entrepreneurs, the fund expects to accelerate development and commercialization timelines and rapidly increase the value of the companies invested in. The Blue Sparrows have encountered the medical market in real life; their mistakes are not to be made again and their hands-on, done-it-before experience paves the pathway to success. Harvard published research showing that such experience increases the chances of success of a company by 50%.

Think about developing medical software, class 1 and 2 medical products, setting up production, negotiating with suppliers, complying to medical regulations, setting up quality management systems, designing and leading clinical trials, setting up reimbursement dossiers, and commercializing internationally through hospitals, doctors or homecare providers. The good thing about the young entrepreneurs: they have done all of this, shown their own successes and their experience is still very recent, meaning that advice is very relevant for today’s world.

 

Why? The basic fundament of the Blue Sparrows Fund comes from the urge of ‘giving back’. This is what each Sparrow strives to do during the term of the fund: to save other young companies from the expensive and time-consuming lessons and to help each other build successful medtech companies, in the end helping doctors and their patients.

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Investments

We have a very clear focus and cycle, realizing investments within 3 months.

Medtech Focus: The Blue Sparrows MedTech Funds focuses on early stage medtech companies. By that we mean:

  • Early stage: could be as early as just an idea with a business plan.
  • Medtech: any technology or e-health solution that is used to increase health for the benefit of patients and doctors. A patient being defined as a person that has a problem with their health.
  • Typical first investment: €100-200k to develop proof of concept
  • Typical team: very motivated, medical or technical background, eager to learn

 

3 month Cycle: The Blue Sparrows MedTech Fund aims to close investment within 3 months:

  • Step 1: Connect with the Sparrows. We will discuss, ask questions and evaluate your plan.
  • Step 2: If we see a match we will invite you to a monthly Sparrows meeting to present your plan. We evaluate your plan immediately. Within 30 minutes you will know whether the Sparrows want to continue.
  • Step 3: If the presentation is positive, a 1 month mini due diligence will follow with a list of topics that we would like to know more about.
  • Step 4: If the due diligence is positive, you will receive a term sheet with an investment proposal.
  • Step 5: Our aim is to finalize the due diligence and close the investment round within 2 months after signing the term sheet.
Apply for investment

Track Record

The Blue Sparrows in Numbers

> 100.000

Patients helped

> 10

Clinical trials done

> 30

Medical Products brought to market

> 20

Countries active

> 15

Patents filed

> 100

Years of medtech & fund experience

About us

The team

The Blue Sparrows MedTech Fund is formed by 7 medtech entrepreneurs and 2 fund managers. The medtech entrepreneurs collectively have more than 50 years of experience in starting up and commercializing medtech companies. Their value and aim is to support early stage startup companies with active coaching. The experienced fund managers collectively have more than 50 years of successful investment fund management experience, the BSMF being their 4th fund. Their value and aim is to optimally run the fund both legally and financially. Together the aim of the team is to accelerate, remove growth barriers and to support the development of early stage medtech enterprises, resulting in quicker commercialization and increased value of the companies invested in.

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NewCompliance Group

Bo Wiesman

• What: Clinical Cockpits for the Operating Room and ICU & Dutch distributing company for innovative human waste management system
• Where: 5 Countries
• Team: 30
• Achievement: The development and successful market launch of a cockpit for the Operating Room and ICU (operational now in 30+ hospitals). Developed from scratch, without any medical background or prior medical experience.
• Lesson learned: Entrepreneurship and innovation are ongoing processes, that don't stop at the first idea or product.

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Laevo

Boudewijn Wisse

• What: Exoskeletons for workers that prevent work-related back pain.
• Where: Worldwide
• Team: 6
• Achievement: turning a medical device for disabled in a widely-accepted work tool for everybody.
• Lessons learned: make choices as quick as you can, commit, act.

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NightBalance

Eline Vrijland-van Beest

• What: Medical wearable technology for positional sleep apnea
• Where: 10 countries
• Team: 22
• Achievement: 12,5 million finance round
• Lesson learned: Pursuing the right strategy for reimbursement early on, including clinical trial designs to meet the requirements of health authorities.

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LeQuest

Hicham Shatou

• What: Online trainings and simulations for medical technology to certify healthcare professionals
• Where: 8 Countries
• Team: 33
• Achievement: Collaboration with the top global manufacturers of medical equipment
• Lesson learned: a clear value proposition for all stakeholders in the process is crucial and persistence, persistence, and persistence.

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Clinical Graphics

Peter Krekel

• Company: Clinical Graphics
• What: 3D medical image analysis for orthopedic surgery
• Where: 14 countries
• Team: 12
• Achievement: Exit to a large US-based publicly traded corporation in 2016
• Lesson learned: Work with your first launching customer to gather comprehensive clinical data on your product, even if that means missing out on revenue.

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Intespring

Rogier Barents

• What: Exoskeletons and Balancing devices for Medical purposes.
• Where: 3 Countries
• Team: 5
• Achievement: Founding of two successful spin-off companies: Anchis Technology (BalanceBox) and Laevo (Laevo Exoskeleton). Over 10.000 BalanceBoxes are annually sold worldwide and the Laevo Exoskeleton is currently the first medical grade, commercially available exoskeleton in the world.
• Lesson learned: Don’t stop failing until something turns out to be a success. It’s a fine line between perseverance and having a plate in your head, so always be critical of the steps you make, but don’t give up because you’re just having a setback.

team_image
NightBalance

Thijs van Oorschot

• What: Medical wearable technology for positional sleep apnea
• Where: 10 countries
• Team: 22
• Achievement: Development of CE Class I & CE Class II medical device
• Lesson learned: Ensure a strong regulatory focus early-on in the product development process through proper documentation to ensure medical device regulations compliance.

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Shamrock Partners

Govert Brasser

• Experience: Financial, Strategy, financing, M&A, management of over 15(international) companies. Supervisory Boards (international) companies. Set-up, management and ownership of funds.
• Achievement: Various funds successfully closed.
• Lesson learned: A problem shared is a problem halved. Our funds have become successful mainly through perseverance, no leverage financing, focus and controlling shareholdings creating high added value along with highly involved management/shareholders.

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Shamrock Partners

Lex Vriesendorp

• Experience: Law, Marketing, M&A, management of over 15 (international)companies. Supervisory Boards (international) companies. Management and ownership of funds.
• Achievement: Various funds successfully closed.
• Lesson learned: Invest in people, not businesses. Our funds have become successful mainly through perseverance, no leverage financing, focus and controlling shareholdings creating high added value along with highly involved management/shareholders.

Harvard research shows that adding experience to a company increases the chances of success by 50%.

Agenda

Bootcamps!

Bootcamps! The Blue Sparrows are active within the space of early stage startups in the medical industry. So we are present at many events and we organize several bootcamps for medtech startups to meet and train potential investment candidates. Find an overview of our activities below.

 

The Blue Sparrows organize the following bootcamps:

July/August 2017
Bootcamp EIT / YesDelft
October 2017
Bootcamp UMCG / Healthhub Roden
July/August 2018
Bootcamp EIT / YesDelft
May 2018
Bootcamp UMCG / Healthhub Roden

Depending on applications:

Apply here for one of the bootcamps!

Apply for bootcamp
bootcamps
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Agenda

Events!

The Blue Sparrows have an Entrepreneurs Helpdesk, which is organized 4 times per year in the UMCG/ Healthhub Roden. First one is planned for June 2017.

May 10th 2017
Techilicious
June 27th 2017
Medical Delta
June 2017
Launchlab Yes!Delft
November 20th 2017
SingularityU NL Summit
October 2017
Rockstart Health

Apply here for one of the events!

Apply for the event
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Contact

Eager to get a “money and experience investment” for your early stage medtech company?

New business

info@bluesparrows.nl

 

Call us

+31 (0)85 401 83 10

8AM – 5 PM CET MONDAY TO FRIDAY

Send us a note, we are happy to learn more about you.
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