MedCity–Spex Capital Investment Call FAQs

About Access to Investment 

What is the relationship between MedCity and Spex Capital?

MedCity has entered into a formal partnership with Spex Capital to drive the investment call, source and assess companies.

Does this replace MedCity’s Investment Hub? And can companies apply to other Investment Hub activities and the joint call with Spex Capital at the same time?

The Spex Capital investment call does not replace MedCity’s Investment Hub; it is one offering within the overall Investment Hub programme. Companies may apply to both. MedCity Investment Hub encompasses a range of activities to help companies access investment, including regular pitch days to a vetted community of angel and VC investors.

Who Can Apply 

What kind of company can apply? 

Any early-stage start-up with a digital healthcare or medtech focus.

Can I apply if my company is outside the UK?

Yes. Just ensure you complete the relevant sections of the portal application form so we know which country your company is registered in and what your base currency is. 

What additional support can I get if my company is outside the UK?

MedCity is a UK Home Office endorsing body for start-up and innovator visas for companies wanting to land in the UK and establish a business presence in the UK.  MedCity also supports companies with connections to academic research partners and the UK life sciences community; other investment sources; access to lab and work space; guidance on evidence generation and the regulatory landscape. Please email for more information: office@medcityhq.com

How to Apply

What do I need to submit during the application?

Companies will be asked to complete/submit the following:

• Company, founder and applicant details
• Mutual Non-Disclosure Agreement between Spex and company (mandatory)
• Questionnaire covering:
  • Product/need description
  • Current/past funding information
  • TAM
  • USP
  • Competitor analysis
  • Regulatory clearance/IP information
  • Sales and operations
  • Alignment with NHS
  • Impact and ESG
  • Financials
  • Team profile
• Pitch Deck
• Spex cashflow template (excel download)

Why do I need to complete the Non-Disclosure Agreement (NDA)?

The mutual NDA is in order to maintain confidentiality and protect any potentially sensitive information you are required to submit for the application. We need this information to give us a thorough understanding of your business, allowing us to make the most informed decisions possible. 

Can I submit more than one application?

Yes. Once you have registered on the Spex portal you will be able to submit more than one application – for example, if you are representing multiple companies. To submit an application for another company, click on 'Programs' at the top of the Portal page and then on 'More' to submit another application.

Do I have to complete my application in one sitting?

No, once you have registered you will be able to save your progress and return to the application at any time prior to midnight 27 Oct 2021. Existing applications can be viewed by clicking 'My Applications' at the top of the page.

Is Spex open to co-investment?

Yes. The application portal allows companies to give notification of open investment rounds and existing/incoming investors.

Will Spex request a board or observer seat?

In some cases Spex may request a board or observer seat

What if companies need less than £500K to close out a funding round?

Although the investment call is aimed at companies seeking £500k to £5 million in investment, smaller tickets are welcome. The application portal allows companies to nominate open rounds and amounts to be raised to close a current round. (The average ticket per company selected for investment is expected to be between £500k and £2 million). 

Timing of applications

When do applications close?

Applications close on midnight 12th November 2021.

What are the next steps?

Your application will pass through a two-stage screening process undertaken by the Spex investment team and MedCity team. Applicants who have made it to the interview stage will be notified early 2022 and invited to present to the investment team in person in the first quarter of 2022.

When will the companies applying be introduced to their investment team?

Companies will meet the Spex team at the interview stage and will continue diligence discussions with the team if successful at interview.

What level of feedback can companies expect?

The level of feedback given will depend on the stage a company reaches in the investment process. For example, companies advancing to interview stage would receive more detailed feedback. If not invited to an interview companies will have the opportunity to receive feedback from the investment team.

Can unsuccessful applicants re-apply at the next call?

Yes. In some cases companies may be invited to continue discussions with MedCity and Spex outside of investment call timelines. Companies may also apply for other investment opportunities through the MedCity Investment Hub.