Applying to IPHA does not require the use of a standardized template. We believe that the representation of a startup is best expressed in the founder’s words and presentation. The IPHA application process contains two components, a letter description of your business plan and a video submission. In developing your application submission, please note that the partners will be looking for information on the following topics:
- Origin of the company
- Current leadership team
- What the company produces and sells
- Key value proposition
- The current state of development of the company’s technical solution
- Market segments the company will target
- Origin of the intellectual property used by the company
- Why the company would be of interest to the Inova Health System and other similar consumers
- The company’s economic model (revenue, net, capital)
- Key competitors
- Previous investments in the company
Applications and videos are reviewed as received. Feedback to the applicant occurs within a week of submission (holiday periods may be extended).
If the application and video are determined to be aligned with IPHA’s acceptance criteria, the application is reviewed and discussed by all partners. After the partners meeting, successful applicants are offered the opportunity to meet the partners in-person, or via teleconference.
Within 2 weeks of the in-person interview, candidates will be informed if they are accepted into the program and the investment contract process is initiated. IPHA uses the SAFE investment contract format which will be provided at the in-person interview.
Unsuccessful applications receive email correspondence indicating the rationale for not proceeding with the application. Unsuccessful applicants may resubmit an application if the reasons for non-acceptance have been addressed.