”“Taking care of health challenges” The open-innovation program that accelerates ideas into Solutions
Innovation comes from joint aspirations and teamwork. That’s why Lab1891 is built around partnerships with healthcare professionals and entrepreneurs. With our open-innovation platform all stakeholders turn ideas into scalable Solutions that improve the quality of health outcomes and lower overall health system costs.
Too often we see great initiatives fail because of lack of expertise, financial uncertainty, or insufficient understanding of the problem within the complex health ecosystem. Through Lab1891, MSD takes responsibility of the challenges of today and tomorrow. With more than 125 years of experience in realizing innovative health products, we understand what it takes.
We launch Challenges with healthcare partners and bring in our expertise as well as network to accelerate the right Solutions. We are unique in the way that we don’t take any equity or ownership in ventures. Instead we prepare startups for a potential launching customer deal with a pharmaceutical company.
By acting as a launching customer, MSD can support startups until they have proven the added-value of their Solution. Our approach offers a win-win for all stakeholders and enables MSD to be at the frontline of innovation. We gain understanding off the newest trends so that when opportunities arise, we can be part of it.
The Lab1891 program
Selected candidates enroll into our Health Industry Readiness Program. The program is executed by our partner UtrechtInc, a leading startup incubator in Europe located in Utrecht, the Netherlands. The selected candidates will follow a 6-months during program focusing on the following topics:
- Health technology assessment
- IT compliance
- Corporate compliance
- Product validation
- Funding & Finance
- Startup organization