What is PharmStarsTM?

PharmStars is a global accelerator for digital health startups seeking pharma and biotech clients or partners. Our program offers tailored education and personalized mentoring to startups to help them achieve greater success engaging with pharma. Our startups present to and meet with PharmStars’ pharma members at our Showcase Event. Our pharma members enjoy priority access to our select group of promising, educated digital health startups that align with their digital health needs.

How is PharmStars different from other healthcare accelerators?

• Specialization: We are the only accelerator focused on the needs of digital health startups that want pharma clients or partners.
• Curriculum: We are the only accelerator that offers startups a carefully structured, comprehensive pharma curriculum.
• Mentoring: Our mentoring program is unique and highly personalized. We work closely with each of our startups to understand their business and competitive advantages and then advise them on developing their pharma business model. We assist in developing a clear, compelling pharma value proposition. Every startup completes the program with a revised, highly impactful pharma pitch deck.
• Mentors: All coaching is done by PharmStars' professional staff and Mentor Advisors, who are experienced pharma and digital health experts. Unlike other accelerators, we do not leave the vital guidance of startups to an ad hoc group of volunteers.
• Meeting pharma: Our startups have the opportunity to get to know our pharma members. Our startups attend multiple Members’ Panels and Fireside Chats with our pharma member champions and their subject matter experts, providing the opportunity to ask questions and directly engage with these pharma innovation leaders.
• Presenting to pharma: Our startups present to and meet with our pharma members at our Showcase Event.
• Non-proprietary: Unlike an accelerator run by a single pharma company, we offer membership to multiple pharmas, enabling startups to simultaneously engage with different firms.

How does PharmStars work?

Startups apply online to participate in a cohort focused on a theme of interest to our pharma members. Ten startups are selected participate in PharmaU^TM, our 10-week educational and mentoring program that culminates with a private, members-only Showcase Event. Our educated startups present their refined pitches to pharma members and may have one-on-one meetings with members at the Showcase Event.

How many startups will be in a cohort? How many cohorts per year?

In the Fall of 2024, there will be a cohort of 10 startups that will participate in our 10-week PharmaU program. This is the second of the two cohorts in 2024.

Is PharmStars for US-based companies only?

Participating startups can be based anywhere in the world. On average about 40% of the startups accepted into the program have been headquartered outside of the US. Our international participants have gained a lot from participating in the PharmStars accelerator.

What is the program timeline for the Fall 2024 cohort?

• Applications available: June 17, 2024
• Applications due: July 15, 2024 (by 11:59 p.m. ET)
• Semi-finalist notification: Rolling basis
• Semi-finalist commitments due: 3 days after notification of semi-finalist status
• Acceptance notifications: August 28, 2024 (on or around)
• Participation commitments due: 2 days after notification of acceptance
• Launch Event: September 10-11, 2024
• PharmaU: September 16 - November 7, 2024
• Showcase Event: November, exact date TBD

Overview

What is PharmaUTM?

PharmaU is PharmStars’ educational program, developed and led by the PharmStars team. PharmaU consists of three parts:
1) a structured, comprehensive curriculum to teach startups what they need to know about pharma;
2) individualized coaching and mentoring for startups on developing and presenting their pharma-specific value proposition and how to subsequently effectively engage pharma; and
3) a series of workshops and seminars for pharma members, known as “Executive Ed,” on how to implement digital health programs and partnerships.

What is in the curriculum?

We have asynchronous and real-time virtual classes. The curriculum focuses on what startups need to know to engage with pharma, including: pharma basics, pharma’s internal structure and functions, how drugs are developed, pharma business models, regulatory drivers, pharma-startup deal structures, and current industry trends. Much of the content is studied asynchronously and real-time classes are focused on discussion and review. There is ample opportunity for peer-to-peer sharing through dynamic conversation and interactive workshops. Our curriculum is both educational and fun.

Who teaches the curriculum?

The curriculum is taught by PharmStars' expert faculty and occasional external speakers.  Material is taught through asynchronous videos that participants watch at their convenience. Real-time classes focus on review and discussion and time is also reserved for hearing from and engaging with our pharma members.

What mentoring will the startups receive?

Our mentoring program is unique and highly personalized. We work one-on-one with each startup, getting to know their product and business in order to provide tailored guidance.  Mentoring focuses on defining a unique pharma value proposition and business model, developing a successful pitch, creating appropriate pharma deal terms and structures, and more.  Every startup completes the program with a revised, custom, high-impactful pharma pitch.

Who provides the mentoring?

Our expert PharmStars staff (not an ad hoc mentor network) serve as mentors and provide each startup with individualized guidance on enhancing their business case and preparing to engage with pharma. All of our mentors have deep pharma experience. We believe you must know pharma well to mentor others on pharma.

Do the startups meet the pharma champions before the Showcase Event?

Yes, the champions from our pharma members participate in Members’ Panels and Fireside Chats. These discussions are a wonderful, informal way for our startups to learn about the member companies’ interests. Startups appreciate getting to know the member champions and having opportunities to ask them questions before they present to them at the Showcase Event.

Who from the startup companies participates in PharmaU?

Each participating startup is expected to send at least two and up to three full-time members of their senior leadership to PharmaU. At least two of the representatives must have decision-making authority to represent the startup when engaging in conversations with prospective pharma clients. Ideally, the representatives should include the startup’s CEO and another senior leader. To gain the full value from our accelerator, representatives are expected to participate in the entire 10-week program, attending classes and mentoring meetings.

What is the time commitment to the program?

Real-time classes are 3 hours per week which includes hearing our pharma champions talk about their companies in our exclusive pharma member Fireside Chats and Members’ Panels.  Participants will also be expected to watch asynchronous video classes on their own. There will be homework assignments to help participants prepare their pharma pitch decks.

Logistics

What is the in-person Launch Event?

The Fall 2024 PharmaU program will begin with a mandatory, in-person Launch Event on September 10-11 in Boston. This live event provides an opportunity for participants to meet the PharmStars team, their cohort peers, and mentors and to learn important details about the accelerator. We dive into the PharmaU curriculum and begin mentoring.

When and where with the Launch Event be held?

The Launch Event will begin at 9 a.m. ET on September 10 and conclude by 5 p.m. ET on September 11. The event will be held in Boston, MA. Applicants should reserve time on their calendars to accommodate both travel and meeting times. Additional details and information on nearby accommodations will be shared with the applicants accepted into the cohort.

What if I can’t travel for the Launch Event or the Showcase Event?

PharmStars requires in-person attendance at both the Launch Event and the Showcase Event. Exceptions will be made only in special circumstances such as illness or other unforeseen circumstances.

What is the class schedule?

Classes will be held virtually on Mondays and Thursdays 12:00 – 1:30 p.m. ET from September 16 - November 11, 2024 . Applicants should block their calendars to be available for all classes.

When will mentoring sessions be held?

Startups will select mutually agreeable meeting times with the PharmStars staff for weekly mentoring sessions. We expect each startup will have multiple meetings over the course of the program.

Will PharmaU be held in person or virtually?

PharmaU classes and mentoring will be held virtually. Startups based anywhere in the world can participate.

Who represents a startup in the PharmStars program?

Each participating startup is expected to send at least two and up to three full-time members of their senior leadership to PharmaU. These representatives must have decision-making authority to represent the startup when engaging in conversations with prospective pharma clients. Ideally, the representatives should be the startup’s CEO and other senior leaders. To gain the full value from our accelerator, representatives are expected to participate in the entire PharmaU, attending classes and mentoring meetings. The CEO and one other representative are expected in person at the Launch Event and Showcase Event.

Is attendance mandatory?

We have an extensive curriculum that builds on itself. Because our curriculum is cumulative, startup representatives are expected to attend all PharmaU classes.

What if I cannot attend a class?

Participants are expected to make every effort to attend all classes. Since there will be two to three representatives from each startup, we expect you to coordinate with your company’s other representatives to catch up if you miss any material. Under special circumstances, classes may be recorded and shared.

What is the Showcase Event?

Each cohort culminates with the private Showcase Event. All startups will pitch to an audience of PharmStars pharma members and sponsors. Private, one-on-one meetings between startups and pharma members will occur at the Showcase Event. It is a unique and powerful way to turbo charge your business development activities with pharma.

Will the Showcase Event be live or virtual?

The Showcase Event will be live provided there is no public health emergency that precludes a meeting of this kind.  A virtual option may be made available if a startup is prohibited from travel for some reason.

What is the “blackout period"?

The Showcase Event will be followed by a four-week promotional “blackout period.” During this time, startups and pharma members will have the unique opportunity to meet and negotiate with each other. Startups, pharma members, and PharmStars will refrain from using social media or other methods to publicize the identities of the participating startups from the beginning of the program until the blackout period is over.

What type of startups should apply?

We are accepting digital health startups that want to engage pharma as clients or partners, would benefit from priority access to our pharma members, and recognize the importance of an enhanced understanding of pharma. Digital health startups that are interested in receiving coaching to create a clearer value proposition and a better pharma pitch are ideal candidates.

What stage should the applying startups be at?

Startups eligible for the program should have a prototype or product developed which they are ready to offer to pharma. Pre-seed through Series B funded startups have successfully participated in our program.

What if I am already selling to pharma, how will PharmStars benefit my startup?

That is great! If you want more pharma clients, PharmStars can turbo charge your startup’s pharma business development activities. PharmStars provides the unique opportunity to pitch and meet with our pharma members at our Showcase Event. Our startups and members have both reported that their first meetings with each other have been much more successful than other traditional first meetings. Furthermore, PharmaU will help you better understand how pharma works and how to be a better partner. Series and A and B funded startups with existing pharma clients have reported tremendous benefit from participation in our program and particularly the personalized mentoring.

If I have an innovative medical device, can I participate in PharmStars?

Absolutely! We consider medical devices to be part of digital health innovation. Our pharma members are interested in using innovative software and technologies of all types.  We have had many medical device startups successfully graduate from our accelerator.

What is the focus of the startups that will be selected to participate in this cohort?

The Fall 2024 cohort will focus on digital innovations in clinical trials. We welcome applications from startups with any type of clinical trial innovation including but not limited to trial design and execution, participant recruitment and retention, and patient experience and engagement.

What are the criteria for selecting startups to participate?

We will choose digital health startups to join the accelerator based on:

• Fit: Have a promising digital innovation in the cohort theme area that pharma can use.
• Product stage: Have a developed product or viable prototype that can be immediately adopted by pharma.
• Need: Have not yet broadly and successfully engaged with our pharma members and are in a position to benefit from the education and coaching PharmStars offers.

What benefits can startups expect from the program?

Startups that participate in PharmStars can benefit in numerous ways. Through PharmaU, participants will learn about the pharma industry and how to successfully navigate pharma organizations. Startups will also receive personalized mentoring to assist them in preparing and articulating a value proposition that resonates with pharma. Startups will meet our pharma members at a series of Members’ Panels and Fireside Chats before having the chance to pitch them during the Showcase Event. Startups may also be invited to one-on-one meetings with our pharma members. In addition, startups will also have the opportunity to be part of a community with other pharma-focused startups.

Should startups approach new pharma clients while enrolled in PharmStars?

Startups will gain tremendous insight into the functioning of pharma companies over the course of PharmaU, which may influence their plans for how to best engage pharma. As a result of personalized mentoring, startups may pivot their business model and/or value proposition. Startups will also develop a high-quality pharma-focused pitch deck in the accelerator. Startups get only one chance to make a good first impression with pharma.  It is in the best interest of participating startups to wait to initiate any new contacts with pharma until they have completed the accelerator. Startups enrolled in PharmStars are discouraged from seeking new pharma business engagements from the time of acceptance into PharmStars until the conclusion of the blackout period (four weeks after the Showcase Event).

The Application

How can startups apply to PharmStars?

When applications are being accepted, the application form is available under the “Apply” tab located on the main website menu.

Is there an age requirement to apply?

Yes, you must be at least 18 years old to participate in PharmStars.

Is there a fee for startups to apply?

There is no fee to apply.  Startups accepted as semi-finalists will be asked to pay a refundable Participation Deposit (see additional details below.)

Is there a cost to participate?

Startups accepted into the cohort will pay tuition of $ 6,500 to participate, which is a small fraction of the actual cost and value of the program.

Does the application need to be completed in one sitting?

Yes, the application needs to be completed online in one sitting. We recommend downloading a copy of the application from the application tab of this website, working on the application offline, and then pasting your answers into the application.

Can a startup apply if they already have pharma clients?

Yes. While PharmStars can be of tremendous assistance to startups with no experience engaging with pharma, startups that have had success engaging pharma as customers have also found the program to be extremely valuable. The opportunity to pitch and meet with our members can accelerate any startup’s pharma pipeline.

If a startup has participated in other accelerators, can it join PharmStars?

Yes. Accelerators have different focuses and offer different benefits. PharmStars is the only accelerator for digital health startups focused on understanding the pharma industry and learning how pharma “thinks.” Our expert staff has extensive pharma experience and will assist startups in refining their value proposition and crafting a pitch that resonates with pharma.

Semi-Finalists

How and when is a startup notified that they have become semi-finalist?

Startups will be notified on a rolling basis by email if they are selected as a semi-finalist.

What does a semi-finalist need to do to continue to ensure their application is considered for participation in the program?

Semi-finalists must sign and return the “Participation Terms and Conditions Acknowledgement Form” and provide a refundable $500 Participation Deposit within three days of notification.

How long does a semi-finalist have to indicate their continued interest in being considered for participation?

Semi-finalists must return their signed “Participation Terms and Conditions Acknowledgement Form” and make their Participation Deposit within three business days of notification to remain eligible.

Why does PharmStars select semi-finalists in this way?

PharmStars receives many applications and invests significant resources in the selection of startups for each cohort. The purpose of the Participation Deposit is to ensure that these resources are focused on applicants that are committed to participating in the PharmStars’ program should they be selected.

What happens to a startup’s $500 semi-finalist Participation Deposit?

If the startup is accepted into the Fall 2024 cohort, their deposit will be credited toward the $6,500 tuition payment required for participation (or forfeited if the startup declines to participate). If the startup is not selected to participate in the cohort, their deposit will be fully refunded within 30 days of notification, provided startup has provided the requested repayment mechanism details.

Acceptance

How will a startup be notified if it is accepted into the cohort?

Acceptances will be communicated by email on or around August 28, 2024. Startups must respond within 2 business days to accept or decline the opportunity to join PharmStars. If no response is received within 2 business days, the invitation will be forfeited and extended to another applicant.

If a startup does not get selected, can it apply again?

If an applicant is not selected, the startup may apply for future cohorts. Unlike other accelerators a large component of our selection process is fit with the cohort theme and our pharma members current needs. This means we often must pass on some incredible startups. We have accepted a number of startups who applied but were not previously selected.

What is a pharma member “champion” and what do they do?

Each pharma member designates a champion to liaise between their firm and PharmStars' startups, including at the Showcase Event. The champions are director-level or higher with strong internal relationships, demonstrated interest and comfort in working with startups, and familiarity with their firm’s digital health needs and strategy.

Do pharma members influence themes for the cohorts?

Yes, our pharma members assist in the selection of our cohort themes.

Do pharma members select the startups for the cohort?

No, members are not involved in selection of the startups. In fact, participating startups’ identities will be kept confidential from members until the startups have finished PharmaU and are fully prepared to engage. Members will meet startups at the Showcase Event.

What are the educational opportunities for pharma members?

The “Executive Ed” portion of PharmaU provides optional, proprietary educational seminars and workshops on key topics to assist our pharma members in closing the “pharma-startup gap.”

Does PharmStars take equity in startups that participate in PharmStars?

No, unlike many other accelerators, PharmStars does not take any equity from startups who are accepted into our program.

Will PharmStars be involved in any deal making or IP discussions?

No, PharmStars will not be involved in the negotiations between members and startups. Our role is to select, educate, and prepare startups to have constructive conversations with pharma. The rest is up to each startup.

What is the Success Fee?

PharmStars helps startups create powerful pitch decks and then provides unique access to potential pharma clients. Startups get to pitch to an audience of pharma members at the Showcase Event and also have the opportunity to meet one-on-one with PharmStars pharma members. These meetings with PharmStars’ pharma members can lead to projects and deals for participating startups. PharmStars will share in its startups’ successful deals through the payment of a “Success Fee.” The Success Fee will be paid only when a successful deal is struck between a startup and any PharmStars pharma member (that the startup is introduced to through PharmStars).

What does the Success Fee apply to?

The Success Fee only applies to non-equity transactions that are done between startups and PharmStars members to whom they have been introduced. The PharmStars pharma member champion may be the initial point of contact into a pharma firm but not necessarily the end user.  So any transactions that are traced back to introductions through PharmStars are covered. Should a transaction close with a member that is the result of an introduction through other channels, the Success Fee will not apply to that deal.

Does the Success Fee apply to all the deals and projects that a startup does with a PharmStars pharma member?

No. The Success fees will only be paid on the first four transactions with each member that are a result of the introductions made through PharmStars.

How much is the Success Fee?

The Success Fee is paid on a per member basis based on (1) the total consideration received in connection with the transaction (excluding equity investment in a startup) and (2) the number of distinct transactions with each member. The Success Fee rates are as follows (example for company Pharma A):

Does a startup pay a Success Fee if they are already working with a PharmStars pharma member?

No. The Success Fees are only paid for projects that result from introductions made through the PharmStars program.

What is the duration of the Success Fee period?

The term of the Success Fee is 3 years. If no deal is closed with a particular pharma member within the first three years after graduation, the obligation to pay Success Fees for deals with that member expires. If fewer than 4 deals are done within the first three years, the Success Fee term will extend up to 3 years from the date of the first deal or until the fourth deal is done, whichever is sooner.

Can I share that I have been accepted into PharmStars?

No, a startup’s selection and participation in PharmStars is confidential until the end of the blackout period.

Can I share my PharmStars materials?

No, startups are required to keep PharmaU curriculum and materials confidential.

Can I publicize that my startup is participating in PharmStars PharmaU program?

Startups must keep their selection and participation in PharmStars confidential throughout the program until the conclusion of the blackout period, which ends four weeks after the Showcase Event. Exceptions may be granted on a case-by-case basis for fundraising purposes. Once the blackout period ends you are welcome to publicize your participation in PharmStars.

Will confidential information be shared by startups or pharma members during the program?

No, startups and members are not allowed to share confidential information in the application or at any time during the program.

Where should questions about PharmStars be sent?

Email us at info@pharmstars.com.

How can I reach technical support if there are issues related to submitting an application?

For any technical difficulties with the online application, please contact info@pharmstars.com.