The first two rounds of the Nordic AMPlify project have shown promising results. 14 leading Nordic companies were selected to participate in the full program in 2021 and a total of 26 companies have been selected to participate in the full program since the beginning of the project in 2020. From there, one Nordic company has already signed term sheets with a health system and one company has their product displayed at the Novant Health Innovation Lab. Additional three companies have moved to the next steps in the further discussions with health systems.
Nordic AMPlify 2021-2022 is the second project and a continuation of the first AMPlify project that ran from 2020.
“The level of insights and access to people and resources is not comparable to any other initiative I have taken part into. And the growth has been evident, not only for us but also the other participants, which is a testament to your approach and mission.”Participating company in the Nordic Amplify 2021-2022 program.
Nordic AMPlify Results
+200 participants and stakeholders took part in the initial part of the program
From there, 51 companies applied to participate in the full program
14 companies were selected to participate in the full program
26 companies have participated in the full program during the first two rounds
1 Nordic company has signed term sheets with a health system
1 company has their product displayed at the Novant Health Innovation Lab
3 companies are in advanced discussions with health systems
A great platform for companies to enter the US market
The purpose of the Nordic Amplify project has been to accelerate the US market entrance for a group of selected Nordic Digital Health Tech and MedTech companies by shortening the time to market, kick-start a US growth journey and facilitate partnerships and business opportunities.
The companies have received guidance and mentoring sessions on topics related to the US healthcare system including market entry, business models and health innovation.
“Being new to the US market, we were quickly brought up to speed with the amount of information provided by the advisors and our assigned mentors. Having these advisors and mentors readily available helped in answering questions about the market. Being able to rely on the mentor for some answers and ideas was a blessing. Being able to visit health systems was a great way to see first-hand how our services could be used.”Participating Company in the Nordic Amplify 2021-2022 program.
Participating companies learned about:
Demystifying U.S. Healthcare and market Entry
Watering Hole Exercise
Why Business Models and Startups Fail
Establishing Your Value and How to Effectively Communicate it
Case Study: How to do it and why
An Expanded View of U.S. Healthcare Market Verticals
FDA and Reimbursement
Health Innovation: What is it? Where is it today and where will it be tomorrow?
Market Visit to North Carolina
In May 2021, the participating companies went on a discovery tour to Winston Salem, North Carolina, to visit health system sites, network with potential partners and learn more about the US health care system from local experts.
“Nordic Amplify is a great platform for companies wishing to introduce their innovative technology into the US market. It created a much-welcomed opportunity for us to engage in a direct dialogue with our initial users and to network with others in the industry and share our thoughts and ideas with them. The speakers were insightful and informative but most importantly Nordic Amplify delivered on all their promises.”Participating Company in the Nordic Amplify 2021-2022 program.
To be continued: Nordic Amplify 2022-2023
Nordic Innovation wishes to build on the success laid in 2021 and has decided to continue the program in 2022–2023. The Nordic Amplify 2022-2023 will include the creation of a joint export platform preparing Nordic health technology companies for business opportunities in the ecosystems as well as health care provider partnerships and networks.
The Nordic AMPlify structure and activities have been established in a way that enables the program to become a recurring activity on an annual basis. The AMPlify 2022-2023 is the third round of the program.
Project partners and participants
The Nordic AMPlify project is a collaboration between Nordic Innovation, Business Sweden, Business Finland, Business Iceland, Innovation Norway and Innovation Centre Denmark in partnership with the city of Winston-Salem NC, FCA Venture Partners, Chmg Capital, Flywheel Co-Working, Courage Venture Funds and Winston Starts.
A total of 26 companies have been selected to participate in the full program in the first two rounds of Nordic AMPlify. The companies are: Liita Care, Memaxi, Flowox, AlgoDx, Aiforia, Respinor, Miiskin, EpiGuard, Dignio, Cerenion, Moovment, sidekickhealth, HealthFOX, Dossier, Medfield, Megical, RaiSoft, Curron, kindfull, NeckCare, No Isolation, Buddy Healthcare, Cuviva, Orion and KamuHealth .
The project is a part of the Life Science and Health Tech program which is one of the eight initiatives launched by the five Nordic ministers of trade and industry. The aim is to strengthen the Nordic companies' opportunities in the field of life science and health technology to create societal benefit and new products and solutions for the citizens.