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6 Healthcare Incubators Growing the Future of HealthTech

Posted on October 30, 2014 I Written By

With the rapidly-growing demand for technologies that solve challenges for healthcare patients, professionals and institutions, many of the most innovative and disruptive solutions are coming not from large corporations, but small, scrappy startup companies.

With this trend has risen a group of startup “incubators” and “accelerators” specifically focused on healthcare technology entrepreneurs. These organizations serve as a launching pad for healthtech startups by facilitating high-value mentoring, collaboration and investor connections, plus basic needs like office infrastructure and seed funding.

For the startups, this gives them the time and resources to refine their technologies and services while finding investors and customers. Meanwhile the accelerators benefit by building local economies, solving healthcare challenges, and opening up highly-profitable opportunities for their backing investors

Below, we’ll introduce you to some of the leading incubators in the healthcare industry. These incubators have a proven track record in helping innovative young companies bring new ideas and services to consumers and businesses.

The Top-Six Healthcare Incubators and Accellerators

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Rock Health – Rock Health invites early stage companies to work within the incubator and receive funding and mentorship from a variety of companies and health organizations. Rock Health notes that 18% of our economy is healthcare-based, but it’s one of the last industries to receive a tech makeover.  With more than 50 active startups in its portfolio, Rock Health is one of the most experienced healthcare incubators, especially for startups that focus on providing web services, mobile applications and SaaS solutions for healthcare providers and companies.

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Health Wildcatters – Health Wildcatters is a mentorship-driven healthcare seed accelerator in Dallas; slightly different than an incubator. Though similar to incubators in their goals, accelerators typically acquire a small amount of equity in a startup, then work quickly to help a company achieve a short-term goal like raising money or launching a product. While incubators house companies for months or years, accelerators like Health Wildcatters work in weeks. Health Wildcatters focuses mainly on early-stage healthcare technology startups, including IT, SaaS, digital health and mobile health companies. Companies receive an initial seed investment and a 12-week program in which Health Wildcatters works quickly to help the company build value and refine its product. The name “wildcatter” hearkens back to independent oil entrepreneurs who were willing to take risks in where they drilled. Health Wildcatters takes the same approach to finding companies. This entrepreneurial approach allows it to help more startups reach their goals.

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StartUp Health –Chaired by TimeWarner CEO Jerry Levin, this incubator aims to fund 1,000 healthcare companies within the next decade to help transform the face of the healthcare industry. StartUp Health works to build sustainable growth in its companies over a three-year period. During the incubation period, StartUp Health matches companies with a network of more than 10,000 health professionals and business people focused on improving digital health and wellness.

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The Iron Yard – With its first location in Asheville, NC, the Iron Yard is growing a network of incubators focused on growing new areas of technology like digital health, green tech and emerging technologies. Its digital health accelerator, located in Spartanburg, SC, is working to turn one of the nation’s oldest railroad junctions into a hub for digital health innovation. The Iron Yard offers startups $20,000 in seed capital and three months of mentorship and workshops from experts in design, development and financing. The Iron Yard also offers training in web development and programming to place graduates with the startup companies it supports.

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Blueprint Health – Blueprint Health, located in New York City, is one of the largest incubators in any niche and offers an expansive network of healthcare mentors to assist healthcare entrepreneurs launch new ventures. Blueprint Health focuses on companies developing tech projects directly for hospitals, physicians and health plans rather than consumer-facing applications, which means deeper access to established customers. In 2013, Blueprint Health focused its efforts on mature startups companies. While many incubators assist early-stage companies, more than half of Blueprint’s mentees already had paying customers. With more than 12,000 sq. ft. of space and two classes per year, Blueprint Health is able to help more than 100 healthcare companies each year.

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Healthbox –  Healthbox offers accelerator programs in Boston, Chicago, Tampa, London, Nashville and Salt Lake City that provide  digital health entrepreneurs with funding and access to a global network of healthcare investors and providers. Healthbox launched its first accelerator program in Chicago in 2012 and quickly grew to other states and the UK. It recently expanded its business programs with $7 million in funding and started a program that helps hospitals create their own in-house Healthbox accelerator programs that, in turn, help companies gain traction within their own medical communities. So far, Healthbox has invested in 56 active startups, supported by a network of more than 350 expert mentors.

About the Author: David Vogel is a blogger for Datapipe, a leading provider of HIPAA-compliant hosting and managed cloud hosting. Connect with David on Twitter (@DavidVogelDotCo) and Google+ (+David Vogel).

Lots of Investment in Healthcare IT

Posted on June 24, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

There’s been a ton of interesting news about investment in healthcare IT lately. Much of what I’m seeing is happening in the mobile health space. No doubt mobile health is a really exciting market right now and I think it’s also really exciting because the cost to develop a mobile health app these days is so low.

Here are some interesting investment groups, incubators, etc that are focusing on healthcare IT:
Healthbox – A leading venture capital firm and incubator for startup companies launched Healthbox to focus exclusively on the healthcare industry. They offer $50,000 in seed capital, along with standard incubator services (office, mentor/leaders, etc) and are based out of Chicago. The program will culminate in an investor’s day (I might have to get Neil Versel to attend the investor’s day).

Rock Health – Another startup seed-accelerator program that offers $20,000 along with mentorship and office space for 5 months. It just started this month in San Francisco and has connections to a lot of the major players in healthcare.

Blueprint Health – A startup accelerator based in New York City. It provides $20,000 of seed capital along with mentorship and a work environment to be able to build your idea. They’re initially planning for 10 companies.

Startup Health – This isn’t an investment vehicle yet, but I could see it becoming one very quickly. It’s part of the Startup America Partnership and has some big names like Time Warner Chairman and CEO, Steve Krein, Esther Dyson, and the founders of Health 2.0 Matthew Holt and Indu Subaiya.

I’m guessing that there are even more programs that I’m missing. I’d love to learn about others in the comments as well. Either way, it’s exciting to see all this investment happening in healthcare applications.