Startups are deft. When it’s time to change course, founders with focus, ability, and an agile nature can generate unparalleled productivity. Products are built and go-to-market plans are executed in short order.
Along with new startups that joined via our expanded intake, several companies at the Velocity Incubator pivoted in early March to work on COVID-19 solutions. Opportunities to address both acute and long-term healthcare challenges triggered by the pandemic were identified and are under development. Moreover, Velocity expanded support for companies creating COVID-19 solutions to include non-portfolio companies. All of these companies are actively working with Velocity advisors, and some are using Velocity’s unique product development facilities.
“We thought if Velocity could reasonably help a company pivot to deploy a COVID-19 solution to the market within the timeframe of the pandemic, we should find ways to support founders” said Adrien Côté, Executive Director of Velocity. “Expanding our intake for companies in April was an efficient way to engage pivoting startups.”
In addition to diagnostic solutions, challenges in materials for PPE, healthcare supply chains, drug delivery, alternative vaccine development, and manufacturing of biological medical products for COVID-19 are all being developed by Velocity companies. These technologies are beyond an idea and will evolve over the coming months as they approach market readiness.
Stay connected with Velocity to learn more about how Velocity companies are building solutions for COVID-19.