GE Ventures and StartUp Health, a global health innovation company, today announced the expansion of their partnership to invest in and coach digital health startups focused on health payment and virtual health solutions. The program builds on the success of the GE and StartUp Health Entrepreneurship Program, which launched in 2013 with 15 consumer health companies.
Expanded Partnership Details
As part of the expanded partnership, StartUp Health Academy and GE Ventures will accept at least 10 new, qualified companies together over the next year. Selected companies will be invited to join the StartUp Health Academy for three years and initially receive a $50k investment, with the opportunity for additional funding as they progress. The purpose of the program is to help startups commercialize and scale their product by providing access to GE executives and technology experts as well as StartUp Health’s coaching and global network of investors and customers.
“From day one, we’ve had a synced vision with GE Ventures – to foster innovation that will make a big difference in transforming every aspect of healthcare,” said Steven Krein, co-founder and CEO of StartUp Health. “We believe unique collaborations are required between extraordinary entrepreneurs and the world’s industry leaders like GE in order to fix today’s most complex healthcare challenges.”
Program Focus Areas: Payment Solutions and Virtual Health Platforms
The program will initially support startups and early-stage growth companies that fit any of the following areas of focus:
Payment solutions including network offerings, point solutions and claims free economy
– Network offerings that include: supporting private exchanges, provider cost and performance analytics, healthcare payments and remittance clearinghouses, health information exchanges, claims dispute management, fraud monitoring and mitigation, provider database and credentialing, online consumer portals and apps.
– Point solutions that include: e-wallets, patient eligibility verification and liability estimation, electronic receivables management, point of care consumer payment processing, e-pay or tokenized payment processing, online shopping sites.
– Claims-free economy solutions that include: subscriptions, flat-fees, shopping sites for health.
Virtual health platforms
– Virtual health platforms that enable clinician-to-clinician engagement, specialist referral, interpretation services, second opinions, clinician-to-patient engagement, remote monitoring, e-visits/consultations, store-forward diagnosis.
Companies interesting in joining can visit StartUpHealth.com/GE to apply. Companies that apply by November 2, 2015 will be considered for acceptance this year. Companies that have previously applied to (or are already in) StartUp Health Academy will also be considered for this opportunity and should complete a new application.
