Meducation raises $1 million seed round

Meducation said Wednesday it completed a seed funding round worth $1 million. Technology Strategy Board has contributed £180,000 (around $300,000) with the remainder coming from private investors. U.K.-based Meducation is a medical education network aimed at medical students and professionals

PRESS RELEASE

Birmingham, UK Wednesday 19 March 2014: Educational technology startup Meducation (www.meducation.net) has successfully completed a seed funding round worth $1m.

The funding will be used to grow the Meducation team and further develop the platform. It comes in part from the Technology Strategy Board (www.innovateuk.org), which has contributed £180,000 (around $300,000) with the remainder coming from private investors.

Meducation is the first network specifically aimed at medical students and professionals. It offers shared learning resources and support for members around the world, including tutorials, videos, images, slideshows and podcasts in order to help members develop and maintain their knowledge and skills.

Members are also able to contribute to the Meducation blog to describe experiences in detail, while a Q&A service lets them get answers to specific queries from other community members, providing a level of insight unavailable in standard e-learning packages.

Based in Birmingham’s Jewellery Quarter, Meducation was developed by Dr Alastair Buick and Jeremy Walker with the aim of bringing the training of medical professionals into the 21st Century and thereby improving the level of care provided to patients the world over.

“Educational resources used by traditional institutions are often outdated and medical students can feel isolated in their studies – those studying in very specialised areas in particular may have very few people capable of answering their questions available to them,” said Dr Alastair Buick, co-founder and Managing Director of Meducation.

“Meducation’s aim is to make sure that all medical students and professionals can access and share the most up-to-date resources while enabling a members to support each other, no matter what their specialism or where they are in the world,” he continued.

Meducation is used by more than 35,000 medical students and professionals worldwide, with 33% of medical students in the UK already using the network. It is already building partnerships with medical organisations, publishers and universities.

“We want to become the go-to resource for medical professionals and students that want to keep their skills and knowledge fresh,” said Buick. “Primarily, Meducation will be a social enterprise that will generate revenue from high-income countries with highly developed health services, in order to provide top-quality resources to those working in countries that don’t have money to spend on training for medical professionals.”

About Meducation: Meducation (www.meducation.net) is a medical education network aimed at medical students and professionals all around the world. Offering members access to more than 30,000 community resources, Meducation was launched in April 2008 and is based in Birmingham’s Jewellery Quarter.

About the Technology Strategy Board: The Technology Strategy Board is the UK’s innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy.

 

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