Giving Compass’ Take:
• HealthLeaders reports on the Cedars-Sinai Accelerator program, which is giving seed money to promising entrepreneurs trying to address health system gaps and help patients.
• How promising is the venture model for healthcare disruption and what can the nonprofit world do to support it? It’s a challenging field, but with plenty of opportunities for scaling bold new ideas.
Eight healthcare technology startups just received a significant boost toward long-term success as the Cedars-Sinai Accelerator in Los Angeles launched its fourth class of graduates onto the market. Participants completed an intensive three-month program involving mentorships with Cedars-Sinai physicians and executives, and exposure to a global entrepreneurial network through Techstars, an organization that works with entrepreneurs to cultivate their ideas. Each company received an initial investment of $120,000.
The Accelerator is indicative a growing trend at hospitals and health systems to cultivate and invest in entrepreneurial ventures designed to change the healthcare system. These ventures often provide direct benefits to the systems involved in the investment and can sometimes result in profitable returns. In turn, the entrepreneurs receive access to experts who help refine their ideas and strategies, as well as obtain access to the health system itself, which serves as a living lab to test their products and services.
Cedars-Sinai’s first cohort was launched in 2015. Startups in the three previous classes have raised nearly $100 million in investment funds and have collectively hired about 200 people following program completion.
Participants in this most recent class, selected from a global search involving 400 applicants, are developing technologies to enhance health system efficiency and patient care through artificial intelligence applications, hardware innovation, and other digital platforms. Several have already secured commercial contracts with health systems and companies
Read the full article about ventures as a trend in health systems by Mandy Roth at HealthLeaders Media.
Learning and benchmarking are key steps towards becoming an impact giver. If you are interested in giving with impact on Impact Investing take a look at these selections from Giving Compass.
Looking for a way to get involved?
A good way to complement your interest in Health is to connect with others. Check out these events, galas, conferences or volunteering opportunities related to Health.
Are you ready to give?
If you are looking for opportunities to take action and give money to Health, here are some Giving Funds, Charitable Organizations and Projects aggregated by Giving Compass where you can take immediate action.