THE WHAT? Israeli investor Welltech1 is encouraging wellness start-ups to vie for a US$200,000 pot it’s making available to firms in the ‘wellness technology’ space, according to a report published by Times of Israel.
THE DETAILS Those who throw their hat into the ring will be evaluated by wellness experts from around the globe and the fund is being launched in partnership with the Global Wellness Institute’s Wellness Moonshot: A World Free of Preventable Disease.
“Wellness, which we define as the personal, proactive and prevention-focused pursuit of healthy activities and lifestyles (self-care versus healthcare), has become radically more important to people during COVID-19,” Global Wellness Institute’s Chief Creative Officer, Nancy Davis, told Times of Israel. “This fund will spur the new ideas we need now and in a post-virus world,” she said in the statement.THE WHY? Amir Alroy, Co-founder of WellTech1 told the Times of Israel that the fund’s launch was prompted by the coronavirus outbreak, which has both hit seed-stage funding hard and also increased the need and demand for healthy living.