AIA Launches Second Phase of Their Accelerator Programme
Seven start-ups successfully secured funding in the inaugural phase.
AIA Group Limited (“AIA” or the “Company”) today launched AIA Accelerator 2.0, the second 12-week programme to support innovative businesses in the healthcare arena to deliver break-through innovations and technologies.
The second phase comes after the first-of-its-kind AIA Accelerator programme garnered wide-spread attention within the investor community following its introduction in late 2014. The programme is a collaborative effort between AIA and Nest, Hong-Kong’s full service start-up incubator.
Of the eight start-ups that participated in the inaugural programme, seven successfully secured funding through a Demo Day in June 2015, and continued to raise capital in the weeks that followed. The innovative ideas of the start-ups focused on such diverse areas as biotech, wearables, genomics and applied wellness regimens.
Mark Tucker, Group Chief Executive and President of AIA said, “In only 12 weeks, the start-ups progressed from ideas to prototypes, and from prototypes to products that are commercially viable. They have raised funds, signed partnerships and some have even taken steps to expand internationally. Good ideas need resources to become reality, and the AIA Accelerator programme has provided support to entrepreneurs who have demonstrated passion and expertise towards helping improve peoples’ lives, now and into the future.”
Following the great success of the inaugural programme, applications for the second phase are now open until 9 October 2015 at www.aia-accelerator.com. Eight start-ups will again be selected to join AIA Accelerator 2.0, which will commence on 16 November 2015 and conclude with a Public Investor Demo Day in March 2016.
Formally launching the AIA Accelerator 2.0 programme, Steve Monaghan, Head of AIA Edge, added, “We are looking for innovative solutions and providers who focus on new ways to improve and maintain health, reward people for embracing a healthier lifestyle and help people make informed choices. Health is an area where customer needs and commercial incentives align perfectly. People today are returning to the age-old wisdom of healthy, wealthy and wise. AIA Accelerator 2.0 will include start-ups that can use the power of data or emerging technology to improve the impact and relevance of customer engagement for companies in the field of healthcare.”
Simon Squibb, CEO of Nest, said, “We are delighted with how well our first cohort of the AIA Accelerator has been received by investors and the wider start-up community. Not only did AIA give these eight start-ups access to new clients and great minds from within the business, but they also helped connect them to partners, strategic investors, and potential acquirers. Each of these businesses has emerged from the Accelerator having received support that money cannot buy. With the healthcare and wellness space evolving so rapidly, we are delighted to announce the second phase of the AIA Accelerator so we can continue to support companies at the forefront of healthcare technology.”
The AIA Accelerator programme aims to create opportunities for innovators to shape the future of insurance and healthcare industries. It brings together domain expert providers as co-sponsors, including Amazon, Hong Kong Science and Technology Parks Corporation, InvestHK, KPMG, and Microsoft to create a holistic ecosystem for the start-ups. The second phase will follow a similar ecosystem approach as the inaugural programme.