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Ventures Are a Growing Trend in Health System Innovation

HealthLeaders Nov 7, 2018
This article is deemed a must-read by one or more of our expert collaborators.
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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.

• Here’s how collaborative healthcare investments are becoming part of this new model.


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.

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Since you are interested in Impact Investing, have you read these selections from Giving Compass related to impact giving and Impact Investing?

  • This article is deemed a must-read by one or more of our expert collaborators.
    Click here for more.
    Impact Investing: Empowering Washington D.C.’s Founders of Color

    Melissa Bradley wants to make entrepreneurship and impact investing work for people of color in Washington D.C. the way it does for a white kid from Stanford. Bradley’s Project 500 is recruiting, training and connecting 500 black and Latino founders from the east side of the river in Washington D.C. Making entrepreneurship more accessible to people of color is more than an ethical imperative. “It’s an economic one,” Bradley told ImpactAlpha.  The exclusion of the majority of its population from entrepreneurship “needs to be quickly reversed, she says. ImpactAlpha: Tell me about Washington D.C.’s startup ecosystem and why it’s not working for founders of color. Melissa Bradley: There are inherent systemic racism challenges and there are challenges with people and processes. In D.C., we joke and say there’s east of the (Anacostia) river and everywhere else. East of the river you will find what has typically been termed resident-owned businesses, I think there’s one financial institution there. There are no CDFIs. There are lots of churches and there’s really been a policy focus on nonprofit social services. We realized that there was a gap east of the river. These were people who were already running businesses. For some of them going to a startup weekend or a startup program, was not of interest to them. They were either doing side hustle from their house or running a business in their home. They were running businesses out in the community. That created an opportunity for Project 500. ImpactAlpha: What are the challenges entrepreneurs in these communities are facing and how is Project 500 responding? Bradley: We know that 55% of our folks live or work in high-poverty areas. We know that 34% have a college degree. They’re educated but they need the technical training in business operations and finance. With training, we give them the language, work on their business plan, work on their pitch work on their financials, subsidize a lawyer, a tax person, a tech person, a branding person — so that they actually have the language and the package to be able to talk to investors. Read the full article about impact investing by Dennis Price at ImpactAlpha. 


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