One of our key aims at Founders Factory is making the process of launching a startup more accessible. To do that, we mitigate the biggest risks for entrepreneurs from all backgrounds and give them the support they need to thrive and grow.
We believe that by partnering with you, the world’s best entrepreneurs, we can build technology companies that solve our world's biggest challenges. We’ve spent years perfecting a platform that shortcuts - and de-risks - building a business from scratch. We bring together bold ideas, exceptional entrepreneurs, capital, expert operational support, and the scale of our corporate partners, to turn daring ideas into back-able businesses.
To put it simply, our Venture Studio is a fast-track for entrepreneurs to go from idea to scale. Together we will:
1) Validate concepts
2) Test, iterate, and build the MVP
3) Acquire first customers
And when we’re confident that we’ve proven the concept (typically after 6-months), we’ll help you accelerate your launch with an additional cash injection.
Our latest concept in the Studio, backed by Reckitt Benckiser [RB], is ▶️
Project Chiron.
🧐 What is the Chiron concept at a high level?
2 in 3 people live with a chronic condition. There is a growing number of individuals hacking solutions and running self-experimentation to find answers, for example, trying a FODMAP diet for IBS or hyperbaric oxygen therapy for long-Covid. What works for one person may or may not work for the next. Navigating one’s symptoms is overwhelming, expensive and fragmented, leading to a lack of tangible steps forward, and a seemingly endless journey with limited results.
Chiron helps people find solutions faster with a structured, data driven approach. It uses iterative testing cycles to identify what does / does not work for you. Each cycle focuses on a single change and tracks how the body responds. The outcomes of each test are used to determine what to test next, until you find what works.
At high level, Chiron would:
1) Help navigate your way forward with a personalised pathway We remove the burden of researching what to try and where to go next. Our algorithm uses multi-source data to create a pathway of suggested changes you can ‘test’ to find relief to your symptoms. The pathway optimises based on a user’s reported outcome to previous tests.
2) Provide customisable trackers, integrations & automated remindersWe reduce the admin burden by allowing you to customise what you track and integrating with wearables and health apps to automate as much tracking as possible.
3) Turn complex data into actionable insightsWe enable users to easily cross compare data sets and view trends over time to see how changes are affecting different aspects of health eg. how sleep is impacted by a dietary change.
There are strong early signals for demand for such a solution, with many possible business models and potential for real impact towards helping people accelerate their health journey.
💸 Why now?
We are witnessing the golden age of digital health. New ventures going after niche needs, underserved communities and/or specific conditions resulting in a plethora of verticalized propositions. However, chronic conditions remain marginalised given their nebulous nature, particularly within Western medicine - how do you know what to address when, oftentimes, there is no diagnosis to begin with? Growing attention to long-covid is providing an important spotlight on the reality of chronic conditions in general.
Combined with changing customer behaviours (users increasingly searching for and serving their health needs through specific D2C health solutions) and a pressure for greater self-management of health conditions, Chiron will become a turn-key solution for individuals, health practitioners, payers, insurers and employers.
📈 Unfair advantage Founders Factory is in a position to leverage huge value add from our corporate partner RB on Project Chiron. This could include:
- Leveraging RB’s knowledge of consumer health products and the broader health market
- Leverage RB’s brand and scale as a partner to help acquire first customers
- Insights into their procurement process for health services and the business case for insurers joining the Chiron platform
- Insights into industry standards and best practices (e.g. around clinical trials) & navigating (international) regulation
See website here: https://www.trychiron.com/
As the Founder & CEO of this business you will:
- Execute the successful build and launch of Chiron
- Set a clear vision for the business (including product direction)
- Ideally have experience of working within Health & Product/ Design
- Ideally have experience of working within Health & Data
- Ability to iteratively test and develop product in dialogue with consumer
- Activate partnerships and supercharge growth
- Have a passion for innovation in the healthtech sector
- Be brilliant at hiring and retaining a world class team beyond the founders
- Have experience in, or be comfortable fundraising from VCs
- Bring together industry partners to create sizeable unfair advantage
- Everything and anything else that comes with building a Venture Backed Startup!
Our investment:
- In 6 months, we'll help you validate, build and launch an MVP.
- You'll be allocated a £50K budget for the first 6 months to pay yourself a salary as well as other necessary costs
- You get a dedicated team of people from our brilliant operations team (UX, Product, Engineering, Growth Hacking, Talent Acquisition, Fundraising, etc)
- Once the MVP is launched, we'll incorporate your venture as an independent company and invest £150K into your new business
- Unparalleled access to our corporate partners and wider network (for life!)
- Majority equity in the business is yours!
We are committed to building a diverse culture and are eager to receive applications from all backgrounds. All applicants will receive consideration for employment without discrimination.
