Healthbox said it will launch an accelerator program for health care startups in the Cambridge, Mass., area, where up to ten New England-based companies will be selected for a three-month program and receive $50,000 in seed capital. The program also provides access to a mentor network of industry experts, collaborative workspace and strategic guidance.
HEALTHBOX TO FOSTER AND SUPPORT HEALTHCARE INNOVATION IN NEW ENGLAND
Leading accelerator expands to Massachusetts to drive growth of healthcare startups
BOSTON – April 26, 2012 – Healthbox, a company that supports innovation and entrepreneurship in healthcare, has announced it is launching a business accelerator program in the Boston/Cambridge area. Up to ten New England-based healthcare startups will be selected for the three-month program. Each company selected will receive $50,000 in seed capital, access to a mentor network of industry experts, collaborative workspace and strategic guidance. The program launches this August and will conclude with a high-profile conference in November, where each participant will be able to pitch to an audience of investors and healthcare leaders from across the country.
“Massachusetts’ world-renowned academic institutions, cutting-edge provider systems and strong investor community make it an ideal location for a healthcare accelerator to stimulate the ecosystem and support new ideas,” said Nina Nashif, Founder of Healthbox. “We are looking forward to working with New England’s most promising healthcare entrepreneurs to help them gain traction in the industry and develop sustainable businesses.”
Earlier this year, Healthbox hosted its first program in Chicago. Ten healthcare technology startups were selected out of hundreds of applicants to participate in the program, and in three short months, the teams were able to evolve their business models and establish new partnerships and pilots through the support of the Healthbox infrastructure. The program was supported by strategic partners that included Boston-based HLM Venture Partners, as well as Ascension Health, BlueCross BlueShield Venture Partners, California HealthCare Foundation, Merge Healthcare, Merrick Ventures, Sandbox Industries and Walgreens. Healthbox will continue to expand its partnerships and will be working with additional leading organizations as it continues to grow.
Healthbox has attracted seasoned professionals with healthcare and business experience who are tackling real challenges in the industry and thinking creatively about new solutions. Entrepreneurs who have worked with Healthbox have been given the opportunity to refine their value propositions and gain market traction and insight in a very short period of time.
“This program has helped us really focus in on our core value, rapidly test assumptions and launch pilots with new customers,” said David Nichols of CareWire, a Minnesota-based company that participated in the Healthbox Chicago program. Mark Hall, the CEO of New Jersey-based United Preference, another Healthbox Chicago participant, added “Things that take 6 months or 12 months in other environments, we’ve been able to achieve in 2 to 4 weeks here.”
Applications are currently being accepted on the Healthbox website atwww.healthboxaccelerator.com/apply. For information and announcements about the program, visit www.healthboxaccelerator.com and follow the Twitter feed – @health_box