Techstars, Along with Cedars-Sinai, Point32Health, UCI Health, and UnitedHealthcare to Re-launch Healthcare Program in Los Angeles
Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs announces today 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 select 12 high-growth startups to participate in its intensive 13-week program. Startups will receive capital, mentorship and world class programming from the Techstars global network and the U.S. healthcare and healthtech ecosystem.
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Techstars' corporate program returns to tap into innovative healthcare solutions. (Graphic: Business Wire)
"Techstars has deep experience and an exceptional track record investing in healthcare, especially in Los Angeles," says Matt Kozlov, managing director of the program. "We're enormously excited about this program because it brings in new collaborators, UCI Health and Point32Health, and reunites us with our long-running, highly valued Techstars associates, Cedars-Sinai and UnitedHealthcare."
Techstars has collectively run 7 accelerator programs with Cedars-Sinai and UnitedHealthcare and co-invested in more than 70 companies, including industry breakouts like WELL Health, AppliedVR, Tasso, Regard Health, Kiddo and Kintsugi. This accelerator combines two of Techstars' top strategic focus areas: investing in the Los Angeles Tech ecosystem and investing in U.S. healthcare innovation. Nearly 200 companies have gone through a Techstars program in Los Angeles and have raised more than $1.4B.
Techstars has invested in nearly 500 healthcare companies globally that have raised more than $3 billion and are worth more than $10 billion, including market leaders such as Zipline, Pillpack, Owlet, and Ginger.io.
"The Techstars Healthcare Accelerator provides the perfect platform for us to connect and collaborate with a broader range of entrepreneurs who are working to solve problems that we have as a healthcare provider." Says James Laur, managing director, Cedars Sinai Health Ventures & vice president, Intellectual Property at Cedars-Sinai.
"Point32Health is thrilled to collaborate with Techstars as we see innovation 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 prides itself on being one of the most forward-thinking health plans in the nation, and we are excited for the opportunity to continue that legacy and bring transformative solutions to those whom we serve."
"We look forward to bringing our medical center, academic, and IT experience to the accelerator process and help mentor the incoming class," says Scott Joslyn, chief information and innovation officer at UCI Health. "We hope to create a platform of access, inclusivity, and collaboration for the founders as they develop and refine their products and offerings, including potential demonstration and use at our sites of operation."
With the addition of this new accelerator program, Techstars now runs five programs a year in LA (Techstars Los Angeles powered by J.P. Morgan, which runs twice a year, Techstars Music, and Techstars Space), and three programs across the global network focused on healthcare (Techstars Future of Longevity Accelerator, Techstars Physical Health Fort Worth Accelerator).
The three-month program runs March through June 2023 and is currently accepting applications for the inaugural class. The application deadline is November 30, 2022. Techstars is seeking companies focused on the following areas:
Startups interested in the program are encouraged to learn more by visiting Techstars Healthcare sponsored by Cedars-Sinai, Point32Health, UCI Health, and UnitedHealthcare. Corporations interested in learning more about Techstars Accelerators and Techstars' dedication to corporate innovation can learn more at techstars.com/corporations.
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas-entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. 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 cap of more than $140B. www.techstars.com
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