Industry-Specific Programs: What You Need to Know About ConTech/HealthTech/FinTech
- Yaniv Corem
- 22 hours ago
- 8 min read
I was consulting with a program director a few months back who'd just decided to launch a HealthTech accelerator.
She was excited. Her region had strong healthcare infrastructure, she had a corporate sponsor from a hospital system, and she'd seen a handful of impressive HealthTech applications in her previous generalist cohorts.
"This is going to be great," she told me. "We're just going to take our existing program and add some HealthTech mentors."
I paused.
"Have you thought about FDA pathways?" I asked.
Blank stare.
"Clinical validation requirements?"
Another pause.
"Reimbursement models? HIPAA compliance? Evidence generation timelines?"
She laughed nervously. "I thought we'd figure that out as we go."
Here's the thing: running an industry-specific accelerator—whether it's HealthTech, FinTech, ConTech, or any other vertical—isn't just your generalist program with different mentors.
It's a fundamentally different beast.
And if you don't understand what makes that vertical unique, you're going to set founders up to fail.
Why Industry-Specific Programs Are Different
Let me be clear: I'm not talking about a program that "focuses on" a sector while basically running the same curriculum as everyone else.
I'm talking about programs that are designed for the specific challenges, timelines, regulatory requirements, and market dynamics of a vertical.
The difference matters because:
Generic startup advice doesn't work in heavily regulated industries. "Move fast and break things" is a disaster in HealthTech when you're dealing with patient safety and FDA approval.
Go-to-market strategies are wildly different. Selling to enterprises in ConTech requires pilot programs, long sales cycles, and navigating procurement. That's nothing like B2C SaaS.
The expertise you need is specialized. A great B2B SaaS mentor has zero value for a medical device founder navigating 510(k) clearance.
Timelines don't match typical accelerator models. If your program is 12 weeks and a HealthTech founder needs 18 months just to complete clinical validation, your "demo day success" metrics are meaningless.
So if you're thinking about going vertical—or if you're already running an industry-specific program and wondering why it's harder than you expected—let me walk you through what you actually need to know about three of the most common verticals: ConTech, HealthTech, and FinTech.
Construction Tech (ConTech)
What Makes It Unique
ConTech isn't software. It's software trying to operate in one of the oldest, most change-resistant industries on the planet.
Construction moves slowly. Adoption cycles are long. Procurement is bureaucratic. And the people you're selling to—contractors, project managers, site supervisors—are not early adopters of technology.
If you're running a ConTech program, you need to understand:
Pilot programs are everything
ConTech founders can't just "launch" a product and iterate based on user feedback. They need pilot sites—actual construction projects where they can test their tech in real-world conditions.
And getting access to pilot sites is hard.
You need relationships with general contractors, developers, or construction companies willing to take a risk on unproven technology. Without those relationships, your founders are stuck.
Regulatory and safety requirements are non-negotiable
Construction is heavily regulated. If your founder is building something that goes on a job site, it needs to meet safety standards, pass inspections, and often get certified.
This isn't "we'll figure it out later" territory. Founders need to understand compliance requirements before they build, not after.
Sales cycles are 9-18 months (minimum)
ConTech isn't a "try it free for 30 days" business. Sales involve:
Multiple stakeholders (project managers, procurement, safety officers)
Proof of concept / pilot phase (3-6 months)
Procurement approval (another 3-6 months)
Implementation across multiple sites
If your program is 12 weeks, founders won't close a single deal before demo day. Your success metrics need to reflect that reality.
The talent gap is real
ConTech founders often come from one of two backgrounds: construction (they understand the industry but lack tech skills) or tech (they can build but don't understand construction).
You need to help them build hybrid teams. That means recruiting co-founders, advisors, or early hires who bridge the gap.
What Your Program Needs
If you're running a ConTech program, here's what you actually need (not just "nice to have"):
Mentor network:
General contractors, project managers, construction company execs
Regulatory experts (OSHA, building codes)
Construction tech investors (they understand the long sales cycles)
Pilot site access:
Partnerships with construction firms willing to test new tech
Clear pilot frameworks (how long, what metrics, what happens if it works)
Curriculum must include:
Navigating procurement and safety requirements
Building pilot programs that generate real data
Selling to conservative, non-tech buyers
Understanding construction workflows and pain points
Realistic timelines:
Don't expect revenue in 12 weeks
Measure progress by pilot site acquisition, safety certifications secured, and proof-of-concept results
Common Mistakes
Treating ConTech like SaaS: It's not. Sales cycles are longer, margins are thinner, and adoption is slower.
Underestimating regulatory complexity: Founders often don't realize they need certifications until it's too late.
Not providing pilot access: Without real construction sites to test on, founders are building in the dark.
Healthcare Tech (HealthTech)
What Makes It Unique
HealthTech is one of the highest-impact verticals—and one of the hardest to navigate.
You're dealing with patient safety, clinical validation, FDA approval (in the U.S.), reimbursement models, and risk-averse healthcare systems that move at glacial speed.
If you don't understand these dynamics, your founders will waste months—or years—building something that can't get to market.
FDA pathways are complex (and often misunderstood)
Not every HealthTech product requires FDA approval. But many do. And the pathway depends on what you're building:
Class I devices: Low risk, often exempt from FDA review (e.g., bandages, most wearables)
Class II devices: Moderate risk, require 510(k) clearance (e.g., blood pressure monitors, some diagnostic software)
Class III devices: High risk, require PMA (Premarket Approval)—extensive clinical trials (e.g., pacemakers, implants)
Most founders don't understand which class their product falls into, what data they'll need to submit, or how long approval takes (hint: 6-24 months for 510(k), years for PMA).
If your program doesn't help founders map their regulatory pathway early, they'll build the wrong thing.
Clinical validation is expensive and time-consuming
Even if you don't need FDA approval, you often need clinical evidence that your product works.
That means:
Designing clinical studies (often with academic partners)
Recruiting patients and clinicians
Collecting and analyzing data
Publishing results in peer-reviewed journals
This takes 12-24 months. And it costs money—often more than a pre-revenue startup can afford.
Your program needs to help founders figure out: What's the minimum evidence we need? Can we partner with a hospital for a pilot study? How do we design a study that's credible but affordable?
Reimbursement is the make-or-break factor
Even if your product works and gets FDA approval, it won't scale unless someone pays for it.
In healthcare, "someone" is usually:
Insurance companies (who require reimbursement codes)
Healthcare systems (who have budget constraints and procurement processes)
Patients (if it's direct-to-consumer)
Founders need to understand reimbursement pathways before they build. If there's no clear path to payment, the business won't work—no matter how good the tech is.
Go-to-market is relationship-driven
Healthcare is conservative. Hospitals don't adopt new tech just because it's cool. They need:
Clinical evidence that it works
Proof that it won't disrupt workflows
Trust in the company behind it
That means founders need relationships with clinicians, hospital administrators, and key opinion leaders (KOLs) in their specialty.
Your program needs to facilitate those intros, not just provide generic "sales training."
What Your Program Needs
Mentor network:
Clinicians (MDs, nurses, hospital administrators)
Regulatory consultants (FDA pathway experts, reimbursement specialists)
HealthTech investors (who understand long timelines and clinical validation requirements)
Clinical partnerships:
Relationships with hospitals, clinics, or academic medical centers willing to pilot new tech
Support for designing pilot studies that generate credible data
Curriculum must include:
FDA pathways and regulatory strategy
Clinical validation and evidence generation
Reimbursement models and payer strategy
Healthcare sales and KOL engagement
Realistic timelines:
Don't expect market-ready products in 12 weeks
Measure progress by regulatory pathway clarity, pilot partnerships secured, and clinical data collected
Common Mistakes
Underestimating FDA timelines: Founders think they can "figure it out later." By the time they realize they need clearance, they're 18 months behind.
Skipping clinical validation: "We'll get evidence after we launch" doesn't work in healthcare.
Ignoring reimbursement: If there's no clear payment model, the business won't scale.
Treating healthcare like B2B SaaS: It's not. Trust and evidence matter more than features.
Financial Tech (FinTech)
What Makes It Unique
FinTech is fast-moving, high-stakes, and drowning in regulation.
You're dealing with money, which means compliance, fraud prevention, banking partnerships, and regulatory scrutiny from day one.
The barrier to entry is high. But if you can navigate it, the upside is massive.
1. Regulatory complexity is jurisdiction-specific
Unlike SaaS (where you can launch globally with minimal friction), FinTech regulation is local.
If you're building a payments product in the U.S., you need to comply with:
State-by-state money transmitter licenses (expensive, slow)
Federal regulations (BSA/AML, KYC requirements)
Card network rules (Visa, Mastercard have their own compliance requirements)
If you're building lending products, add:
Federal lending laws (Truth in Lending Act, Equal Credit Opportunity Act)
State usury laws (interest rate caps vary by state)
And if you're building something in crypto? Good luck—regulation is evolving in real-time and varies wildly by country.
Founders need regulatory guidance early, not after they've built a product they can't legally operate.
2. Banking partnerships are essential (and hard to get)
Most FinTech startups don't have banking licenses. They partner with licensed banks who provide the regulatory infrastructure.
But getting a bank partner is hard:
Banks are risk-averse (they don't want to partner with unproven startups)
Compliance requirements are extensive (banks will audit your systems, processes, and team)
It takes 6-12 months to go through diligence and onboarding
Your program needs to facilitate banking partnerships or help founders understand alternative paths (e.g., white-label providers like Synapse, Unit, or Treasury Prime).
3. Fraud and risk management are non-negotiable
If you're touching money, you need to prevent:
Identity fraud (fake accounts)
Payment fraud (stolen credit cards, chargebacks)
Money laundering (AML compliance)
This requires sophisticated risk management systems that most early-stage founders don't have the expertise to build.
Your program needs to connect founders with fraud prevention experts, compliance consultants, and tools (e.g., Plaid, Alloy, Sift).
4. Go-to-market depends on trust
People don't trust startups with their money.
To build trust, FinTech founders need:
Strong branding and messaging (no "move fast and break things" vibes)
Transparency about security and compliance
Social proof (partnerships, press, customer testimonials)
Marketing in FinTech is different from SaaS. Your program needs to teach founders how to build trust, not just how to acquire users.
What Your Program Needs
Mentor network:
FinTech founders who've navigated compliance and banking partnerships
Regulatory consultants and compliance experts
Banking partners or white-label infrastructure providers
FinTech investors (who understand regulatory risk)
Regulatory guidance:
Access to lawyers who specialize in FinTech regulation
Workshops on money transmitter licenses, KYC/AML, and fraud prevention
Curriculum must include:
Regulatory pathways (federal, state, international)
Banking partnerships and white-label infrastructure
Fraud prevention and risk management
Building trust in a high-stakes category
Realistic timelines:
Don't expect launches in 12 weeks
Measure progress by regulatory strategy clarity, banking partnerships secured, and compliance systems built
Common Mistakes
Underestimating regulatory complexity: Founders think they can "launch first, comply later." That's illegal.
Building without a banking partner: Most FinTech products need a licensed bank. Start that conversation early.
Ignoring fraud: One fraud incident can kill an early-stage FinTech startup.
Treating FinTech like consumer tech: It's not. Regulation and trust are everything.
The Bottom Line
If you're running—or thinking about running—an industry-specific program, don't fool yourself into thinking it's just your existing program with different mentors.
ConTech, HealthTech, and FinTech each have unique challenges that require specialized expertise, curriculum, mentor networks, and realistic timelines.
Do the work upfront. Understand the regulatory landscape, build the right partnerships, and set founders up with realistic expectations.
Because if you don't, you'll end up with a cohort of founders who thought they were getting industry-specific support—and instead got a generic program that didn't prepare them for the realities of their market.
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Thinking about launching a vertical program? I've created a Vertical Program Readiness Checklist that walks you through the expertise, partnerships, and curriculum requirements for ConTech, HealthTech, FinTech, and other verticals. Download it here.
You might also find the Industry-Specific Mentor Recruitment Guide helpful—it shows you exactly what expertise you need to recruit for each vertical and where to find it. Grab it here.
This post is part of a series on program design and operations for accelerators, incubators, and startup studios. If you found this useful, you might also like: "Vertical vs. General: How to Choose Your Program's Focus" and "The Curriculum Design Playbook."
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