LOS ANGELES–(BUSINESS WIRE)–Techstars, a global investment firm providing access to capital, one-on-one mentoring and bespoke programs for young entrepreneurs, today announces the launch of Techstars Healthcare, sponsored by Cedars-Sinai, Point32Health, UCI Health and UnitedHealthcare. The consortium-led accelerator program will be based in Los Angeles and will select 12 high-growth startups to participate in its intensive 13-week program. Startups receive capital, mentoring and world-class programs from the global network of Techstars and the US healthcare and healthtech ecosystem.
“Techstars has extensive experience and an exceptional track record of investing in healthcare, particularly in Los Angeles,” said Matt Kozlov, executive director of the program. “We are very excited about this program because it brings in new employees, UCI Health and Point32Health, and reunites with our long-standing, valued Techstars employees, Cedars-Sinai and UnitedHealthcare.”
Techstars has co-led 7 accelerator programs with Cedars-Sinai and UnitedHealthcare and co-invested in more than 70 companies including industry leaders such as WELL Health, AppliedVR, Tasso, Regard Health, Kiddo and Kintsugi. This accelerator combines two of Techstars’ key strategic focus areas: investing in the Los Angeles tech ecosystem and investing in US healthcare innovation. Nearly 200 companies have gone through a Techstars program in Los Angeles, raising more than $1.4 billion.
Techstars has invested in nearly 500 healthcare companies worldwide, raising more than $3 billion and valued in excess of $10 billion, including market leaders such as Zipline, Pillpack, Owlet and Ginger.io.
“The Techstars Healthcare Accelerator provides us with the perfect platform to connect and collaborate with a broader range of entrepreneurs working to solve problems we face as healthcare providers,” said James Laur, Managing Director, Cedars Sinai Health Ventures & Vice President, Intellectual Property at Cedars-Sinai.
“Point32Health is excited to partner with Techstars because we believe innovation is critical to improving the health and well-being of our members,” said Michael Sherman, MD, MBA, MS, Executive Vice President and Chief Medical Officer. “Point32Health is proud to be one of the most forward-thinking healthcare plans in the country, and we welcome the opportunity to continue that legacy and provide transformative solutions to those we serve.”
“We look forward to bringing our medical, academic and IT expertise to the Accelerator process and mentoring the incoming class,” said Scott Joslyn, chief information and innovation officer at UCI Health. “We hope to create a platform for access, inclusivity and collaboration for founders as they develop and refine their products and offerings, including potential demonstration and use at our operational sites.”
With the addition of this new accelerator program, Techstars now runs five programs per year in LA (Techstars Los Angeles powered by JP Morgan, which runs twice a year, Techstars Music and Techstars Space) and three programs across the global network, which focus on healthcare (Techstars Future of Longevity Accelerator, Techstars Physical Health Fort Worth Accelerator).
The three-month program runs from March to June 2023 and is currently accept applications for the introductory class. Application deadline is November 30, 2022. Techstars is looking for companies with a focus on:
- SDOH/Health Equity/Health Literacy
- Mental and Behavioral Health
- maternal health
- women health
- Digital Therapeutics
- Treatment of chronic diseases
- Precision Medicine/Genomics
- Digital/Virtual Nursing
- Activation and optimization of provider performance
- Complex care management
- decision support
- Innovations in home care
- patient experience
- experience orchestration
- interoperability
- automation
- health IT
- Health + FinTech
- health – safety
- Digital diagnostics
- Clinical study innovation
Startups interested in the program are encouraged to learn more Visited by Techstars Healthcare sponsored by Cedars-Sinai, Point32Health, UCI Health and UnitedHealthcare. Companies interested in learning more about Techstars Accelerators and Techstars commitment to business innovation can do so Learn more at techstars.com/corporations.
About Techstars:
The worldwide network of Techstars helps entrepreneurs to succeed. Founded in 2006, Techstars started with three simple ideas: entrepreneurs create a better future for all, collaboration fuels innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute and benefit from entrepreneurial success. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations and cities to help build thriving startup communities. Techstars has invested in more than 3,100 companies with a combined market capitalization of more than $140 billion. www.techstars.com