What You Should Know:
– Tampa General Hospital announces its plan to launch a new healthcare innovation venture fund to improve the quality and access to care across the Tampa/St. Pete metro area in Q1 2021.
– Through TGH InnoVentures, Tampa General will partner with Embarc Collective, Tampa Bay’s innovation hub and education nonprofit dedicated to helping startups grow into scalable, thriving businesses.
Today, Tampa General Hospital President and Chief Executive Officer John Couris announced the creation of Tampa General Hospital’s InnoVentures, a venture capital healthcare innovation fund focused on early-stage startups and direct investments. With the inauguration of TGH InnoVentures, Tampa General will join an elite group of the nation’s leading medical centers engaged in venture capital investing.
“TGH InnoVentures is a critical ingredient in our strategic vision to become the safest and most innovative academic health system in America,” said Couris. “It has the potential to be a game-changer for both the organization and the health care industry. First and foremost, TGH InnoVentures will allow us to develop innovative solutions to improve the quality and access to care right here at Tampa General. At the same time, TGH InnoVentures will provide us a platform to invest both resources and funds into emerging companies and technology that will have the ability to significantly improve the delivery of health care within our region, state, and even nationally.”
TGH InnoVentures Investment Approach
TGH InnoVentures will be comprised of three primary vehicles:
1. The TGH Innovation Lab will serve as an onsite program designed to support team members and physicians in improving operational efficiencies and solving problems within the organization. Through the TGH Accelerator program, the organization will invest and nurture early-stage health care or health care delivery companies as they prepare their business for the market.
2. Function as a living-learning laboratory engaging team members and physician-scientists, as well as emerging companies, providing space, expertise, and access to organizational resources in addition to direct capital.
3. Directly invest in health care and healthcare-related companies.
Partnership with Embarc Collective
Through TGH InnoVentures, Tampa General will partner with Embarc Collective, Tampa Bay’s innovation hub and education nonprofit dedicated to helping startups grow into scalable, thriving businesses. TGH InnoVentures will serve as Embarc Collective’s healthcare partner, taking up residence in their 32,000 square foot facility, located at 802 E Whiting St in Tampa, Florida.
TGH InnoVentures is the latest site to be located in Tampa’s developing medical district, which is comprised of research, clinical care, and educational buildings clustered together to create an environment that will spur innovation and collaboration, and further attract private equity, venture capital, and biosciences.
Official Launch Date
TGH InnoVentures will officially launch in the first quarter of 2021.