Ilex Medical Invests $10M in ARC Accelerator to Catalyze Health Tech Startups Towards Commercial Success
ARC Innovation, a premier ecosystem powering global health transformation, has launched ARC Accelerator, a new accelerator within the Sheba Medical Center campus. Aligned with the launch of the new accelerator, Ilex Medical Ltd. (TLV: ILX), part of the Ilex Group, is investing $10M into ARC Accelerator. This landmark initiative aims to empower early-stage companies through financial backing, expert guidance and an unparalleled support network.
“Our innovation arm partnered with Sheba Medical Center’s ARC Innovation to invest in this newly established accelerator for startups developing breakthrough medical technologies. This investment aligns with our policy of financing innovation and entrepreneurship in Israel,” said Dr. Moshe Ben Shaul, CEO of Ilex Group. “We look forward to taking a leading role in accelerating technology innovations transforming the future of healthcare delivery, improving the standard of care in Israel and around the world.”
The ARC Accelerator program, catering to both Israeli and international innovation companies, pioneers a dynamic blend of professional guidance, engaging content, and interactive sessions designed to provide short and long-term value to participants. Focused on three key tracks, including Senior Health, Women’s Health, and Behavioral/Mental Health, the 10–14-week journey supports 8-10 startups in each cohort. The format, a mix of face-to-face sessions and online interactions, includes mentorship rooted in gold-standard models like MIT’s Venture Mentoring Service.
“The new accelerator will be a central part of implementing ARC’s vision of leading transformation processes in healthcare systems worldwide,” said Prof. Eyal Zimlichman, CEO of ARC Innovation and Chief Innovation and Chief Transformation Officer of Sheba Medical Center. “We aim to support the leading entrepreneurs in Israel and believe in our ability to guide entrepreneurs at various stages to realizing their potential. We believe this can significantly influence economic growth in Israel and within the global healthcare market.”
Uniquely, ARC Accelerator will introduce a new financial model to the Israeli accelerator ecosystem, offering substantial funding to participating startups. Companies will also benefit from free office space for a year, membership in a growing alumni network, and collaboration opportunities beyond Israel through ARC’s vast network of world class health systems and strategic partners. The funding structure offers $125,000 on a post-money SAFE for a 7.5% equity stake, with an additional $125,000 on an uncapped SAFE with a Most Favored Nation (MFN) provision with Uniform funding terms applicable to all startups.
The program is an official part of Sheba Medical Center, enabling ARC Accelerator participants to benefit from Sheba’s clinical expertise, global partnerships, educational insights, and investor relations. Entrepreneurs will have direct access to engage with a robust support network, including the Sheba School of Entrepreneurship and Innovation and exposure to the Sheba ARC Angels’ Club. This diverse ecosystem ensures startups capitalize on funding opportunities tailored to their unique stages of development.
“We are accelerating the development of health technology innovations around Sheba with ARC Innovation at the core of this transformation. The ARC Accelerator will connect us with the best entrepreneurs in the industry who will be able to expedite the progress of their companies using clinical knowledge, databases, and connections to leading hospitals on five continents,” said Avner Halperin, CEO of Sheba Impact. “Ilex Medical is an ideal partner to kick off the accelerator’s initial cohort, providing an infusion of capital at a critical time for the healthtech industry.”
The investment criteria emphasize synergy with Sheba and ARC Innovation, ambassadorial potential, and a commitment to fostering future growth. “We are propelling the construction of a healthtech hub. The ARC Accelerator will connect us with the best industry innovators globally and inject positive energy at a critical time for the local tech market,” added Halperin.
The program is set to launch its inaugural cohort in the second quarter of 2024, inviting visionary investors to collaboratively shape its transformative journey.