The Business Sherpas

Built Financial Models for Startups in Corporate Internal Incubator for average of $10M in Funding

We worked with a major national health insurance company that had set up an internal healthcare tech incubator to take advantage of the changing healthcare landscape following the adoption of HIPAA regulations — and the implications that access to large sets of data had revealed regarding the quality of care related to various disease states.

The Challenge

The incubator was responsible for identifying opportunities, ideating on a business model, and then shepherding these concepts through a number of stage gates, each of which had certain milestones and criteria to meet before receiving board approval for further funding. As a new, semi-autonomous body set up by the C-Suite, there was a lot of internal pressure to succeed. Being relatively new, the incubator was also understaffed even while building out these new ventures.

The Solution

We deployed a consultant to help with developing financial models for four of the startups that had received initial funding to build out the business plan and were trying to qualify for the next round of funding — which would provide funds to staff up and build out the tech for the business. While each fledgling business built a business case, our consultant worked on vetting the assumptions and building the financial model that would be used to make the case for the next round of funding. He worked closely with the future CEOs of the businesses and interviewed key stakeholders in various roles in the healthcare industry to gather data, build the financial model, and pressure test various scenarios.

The Outcome

After various iterations, the model was finalized and our consultant then created the financial slides used to pitch to the Board of Directors for the next round of funding. All four of the startups we supported successfully secured their next round of funding for a total of over $40 million.

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“Alex was new to the cc industry and quickly got up to speed. He worked onsite and had direct client interaction. Alex has a professional attitude and asked appropriate and challenging questions about the work streams he is involved with. He is able to take input from different stake holders and use that to adapt the project plan to make the end product more robust, adaptable and usable as well as complete the project on time. “

– Sharad D.

“TBS were proactive in thinking about ways to maximize the value of their work, doing a thorough, timely job in the process. I would be happy to engage them again.”

– Cordell H.

“Excellent feedback and insights on our proposal strategy and content.
Helped us hone our message. Will hire again!.”

– James D.