- What is B-a-MedFounder?
B-a-MedFounder is a new equity and rewards-based crowdfunding system for people who have bright ideas about creating new medical device related inventions and innovations. Requests for funding can start from as low as a few thousand Euros/U.S. Dollars/British Pounds Sterling for rewards-based projects and continue up to much higher levels for equity-based projects depending on the scope or the stage of the project. Currently the upper limit for funding requests is set as USD 700,000 for equity-based projects and EUR 80,000 / USD 100,000 / GBP 65,000 for all rewards-based projects from across the world.
- Why have you established B-a-MedFounder?
There is a huge untapped source of inventive persons who have ideas for medical devices but do not have the funds to realize them.
We observed that most of the people who have ideas about creating medical devices may not have the necessary funds to develop such ideas. They do not know whom to approach for funding. Thousands of excellent ideas remain at the level of a dream and never come to fruition. We founded B-a-MedFounder to provide the less experienced or even the sophisticated and experienced inventors a virtual showroom through which they can exhibit their inventions and create a web-based funding group to help turn their inventions into commercially valuable devices.
B-a-MedFounder was established, because we saw a genuine need to give any inventor the opportunity to come out with an idea on a new medical device project and seek the funds needed to realize such an idea. In today’s world, there is much more demand for capital than the amount supplied by classic VCs. Our aim is to help such projects find the necessary funds.
- Where is B-a-MedFounder located?
B-a-MedFounder is located in the Republic of Cyprus, which is a full member of the European Union.
- How does the B-a-MedFounder system work?
B-a-MedFounder does not have a closed inventors’ network. Anyone who has a good idea about creating a new medical device anywhere in the world is a natural candidate and member of the our global network.
Our intend is to build a capable and motivated open network of inventors, experts, investors, donors, and medical device companies that are searching for new creative medical device ideas that have the potential to generate a consistent flow of novel medical products that can help people at large.
Our medical and technical experts will evaluate the inventions and innovations that you propose using a novel medical device idea screening method that we have developed.
In the B-a-MedFounder virtual showroom, both the inventors and the investors or donors are in one room. You, as an inventor, do not have to look for a friend-of-a-friend who knows an Angel or a VC to invest in your project. You will not have to do endless and repetitive presentations. You prepare your presentation, send it to us. Once your project is found eligible, it will be displayed in our virtual showroom, and then anyone from anywhere around the world who has an interest in it will be able to review it and fund it.
Through B-a-MedFounder,you can seek relatively small sums of money in the early stages of your project. When your project reaches higher levels and becomes more mature, you can also look for larger sums of money subject to certain limitations.
- Do you offer crowdfunding services anywhere in the world?
Our equity-based crowdfunding service is offered globally, however, currently medical entrepreneurs from outside Israel would need to hire a local law firm first to prepare their start-up compainies for launching an equity-based crowdfunding campaign on our platform and secondly to undertake a closing upon a successful fundraising round. In Israel, B-a-MedFounder has partnered up with a leading law firm to assist Israeli medical entrepreneurs with all the legal aspects of their proposed equity-based crowdfunding campaigns. Equity-based projects can receive investments from across the world (maximum of 50 investors allowed per projet in certain jurisdictions) except from those countries that limit equity-based crowdfunding, or from those countries which have certain MangoPay transaction restrictions.
Our rewards-based crowdfunding service, on the other hand, is also offered globally to all individuals or start-up companies except those fromcountries that limit rewards-based crowdfunding, or those based in those countries which have certain PayPal transaction restrictions. Rewards-based projects can receive donations from accross the world.
B-a-MedFounder is an internet-based company registered in the Republic of Cyprus, which is a European Union member country and except for certain restrictions, almost anyone who has access to internet, and who has an idea about creating a new medical device can use our services.
- Who are the people that you expect to contact B-a-MedFounder?
Individual Inventors / Entrepreneurs
Anybody who has an idea about creating a medical device that could help patients, physicians, or any healthcare provider, may contact us, submit their idea and proposal, and apply for a listing in our virtual showroom.
People who want to invest in new medical device projects, Angels or Venture Capitalists, who are looking for revolutionary or evolutionary medical device projects.
Individuals who have friends or family members suffering from acute or chronic diseases or disabilities and wish to help them and others who suffer can donate their financial resources to inventive people who have ideas to help these patients. Anyone can be a donor.
Medical Device Companies as Donors
Large and small companies that want to support breakthrough technologies and futuristic ideas on medical devices can donate to projects presented in our virtual showroom.