Techstars, a company that invests in early-stage startups, Johns Hopkins and CareFirst BlueCross BlueShield, announced the launch of a new healthcare accelerator program designed to support early-stage entrepreneurs using artificial intelligence to improve care pathways.
With the backing of Johns Hopkins and CareFirst, Techstars AI Health Baltimore utilizes the university’s proficiency in converting research into commercially feasible businesses.
It also takes advantage of CareFirst’s experience in advancing access to economical, fair, high-quality healthcare and Techstars’ accelerator model.
The Baltimore-based accelerator program aims to build on the success of Techstars Equitech, which is a three-cohort series in conjunction with UpSurge Baltimore that ended in May.
Baltimore’s technology ecosystem builder, UpSurge will continue to ensure that Techstars founders can leverage the wide continuum of assets that exist in the greater Baltimore area.
Adam Phillips, former managing director of Techstars Equitech, will spearhead the 13-week program focused on supporting entrepreneurs leading healthtech, medtech and biotech startups.
Startups will get capital, guidance from experts and other support needed to navigate the complexities of the healthcare ecosystem and regulatory environment.
Applications open on Aug. 26 and will be accepted through Nov. 20.
Myra Norton, head of startup acceleration at Johns Hopkins Technology Ventures, the university’s commercialization and entrepreneurship arm, said that “by collaborating with Techstars at the intersection of healthcare and AI, Johns Hopkins aims to bring more entrepreneurs to our ecosystem and catalyze more startup activity to bring high-impact healthcare innovation to market.”
THE LARGER TREND
In 2021, Techstars was among the investors in UAEs Klaim, a healthtech startup that raised $1.6 million (€1.4 million) in funding in a pre-Series A round. The funding enabled Klaim’s penetration in the Saudi and U.S. markets.
On Aug. 15, Johns Hopkins Kimmel Cancer Center investigators revealed a novel test may provide gastroenterologists with insight into which patients with Barrett’s esophagus are likely to progress to esophageal cancer or an abnormal collection of cells called high-grade dysplasia. The information could help physicians determine how to monitor or manage patients during clinical care.
In July, Johns Hopkins Technology Ventures announced the development of special nanoparticles that can send gene treatment directly to various types of cells in bone marrow to correct the disease-causing mutations.
That same month, using genetic engineering techniques, investigators at the Johns Hopkins Kimmel Cancer Center and its Ludwig Center, the Lustgarten Laboratory and Bloomberg~Kimmel Institute for Cancer Immunotherapy designed a novel type of cell to recognize and fight cancer.
Other companies offering healthcare accelerator programs include Duke-NUS Medical School, which launched a $20 million incubator, LIVE Ventures, in July, to help commercialize academic research projects and transform scientific breakthroughs into clinical applications.
The incubator aims to supply academic innovators with expertise and resources from the public and private sectors – including pharmaceutical companies, market data research professionals, investors and industry experts – to conduct product-market fit evaluations for project commercialization.
Mayo Clinic’s Platform_Accelerate is a 30-week program that helps early-stage health tech AI startups get market ready.
Penn Health-Tech’s Health-Tech Accelerator is a yearlong, cohort-based program that is intended to provide support through advising and funding aimed at accelerating the life cycle of innovative health technologies.
The HIMSS AI in Healthcare Forum is scheduled to take place Sept. 5-6 in Boston. Learn more and register.
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