Techstars, a firm that invests in early-stage startups, Johns Hopkins University and CareFirst Blue Cross Blue Shield, announced the launch of a new healthcare accelerator program designed to support early-stage entrepreneurs using artificial intelligence to improve care pathways.
Backed by Johns Hopkins University and CareFirst, Techstars AI Health Baltimore leverages the power of academic research to translate findings into commercially viable businesses.
It also leverages CareFirst's experience in promoting affordable, equitable and high-quality access to health care and the Techstars accelerator model.
The Baltimore-based accelerator program aims to build on the success of Techstars Equitech, a three-cohort series in partnership with UpSurge Baltimore that concluded in May.
As Baltimore's tech ecosystem builder, UpSurge will continue to work to help Techstars founders leverage the wide range of assets present in the Baltimore metropolitan area.
Adam Phillips, former managing director of Techstars Equitech, will lead the 13-week program, which will focus on supporting entrepreneurs leading healthtech, medtech and biotech startups.
Startups can get the capital, expert mentorship and other support they need to navigate the complexities of the healthcare ecosystem and regulatory environment.
Applications will open on August 26th and will be accepted until November 20th.
“By collaborating with Techstars at the intersection of healthcare and AI, Johns Hopkins aims to attract more entrepreneurs to our ecosystem and spur more startup activity to bring high-impact healthcare innovations to market,” said Myra Norton, director of startup acceleration at Johns Hopkins Technology Ventures, the university's commercialization and entrepreneurship arm.
Larger trends
In 2021, Techstars was one of the investors in Klaim, a UAE-based healthtech startup that raised $1.6 million (€1.4 million) in a pre-Series A round of funding. The funding enabled Klaim to expand into the Saudi Arabian and US markets.
On August 15, researchers at the Johns Hopkins Kimmel Cancer Center announced a new test that may enable gastroenterologists to determine which patients with Barrett's esophagus are likely to progress to esophageal cancer or abnormal cell collections called high-grade dysplasia. This information could help doctors decide how to monitor or manage patients during clinical treatment.
In July, Johns Hopkins Technology Ventures announced the development of specialized nanoparticles that can deliver gene therapy directly to different types of cells in the bone marrow to correct disease-causing mutations.
That same month, researchers at the Johns Hopkins Kimmel Cancer Center and its Ludwig Center, Lustgarten Institute and Bloomberg Kimmel Institute for Cancer Immunotherapy used genetic engineering techniques to engineer a new type of cell that can recognize and fight cancer.
Others offering healthcare accelerator programs include Duke-NUS Medical School, which in July launched a $20 million incubator called LIVE Ventures to help commercialize academic research projects and translate scientific advances into clinical applications.
The incubator aims to provide academic innovators with expertise and resources from the public and private sectors, including pharmaceutical companies, market data research experts, investors and industry professionals, to conduct product-market fit assessments for commercializing their projects.
Mayo Clinic's Platform_Accelerate is a 30-week program that helps early-stage healthtech AI startups get market ready.
Penn HealthTech’s HealthTech Accelerator is a one-year, cohort-based program designed to provide support through advice and funding aimed at accelerating the lifecycle of innovative medical technologies.
The HIMSS AI in Healthcare Forum is scheduled to take place in Boston on September 5-6. More information and registration available here.
