Cedars-Sinai today announced its partnership with Techstars to launch their first-ever Techstars Healthcare Accelerator, in partnership with Cedars-Sinai, a three-month program that will enable entrepreneurs to propel the global healthtech industry.
Marking the 10th Techstars corporate program, the accelerator will provide funding, three months of mentorship and guidance from senior leadership at Cedars-Sinai and the Techstars network of more than 7,000 founders, mentors, investors, and corporate partners. Medical and scientific experts will mentor startup companies that are working to transform health and healthcare delivery within the principal healthcare accelerator.
“Cedars-Sinai’s longstanding focus on innovation, quality and patient-centered care makes this partnership with Techstars a great fit,” said Thomas M. Priselac, president and CEO of Cedars-Sinai. “By helping to accelerate promising new technologies into healthcare, our partnership with Techstars will benefit patients around the country and around the world.”
Techstars’ give-first mission and Cedars-Sinai’s commitment to improving health have aligned as an impetus to accelerate promising new technologies into healthcare. Companies participating in the Techstars Healthcare Accelerator, in partnership with Cedars-Sinai, will receive $120,000 in funding. At the end of the three months, companies participate in Demo Day where they will have the opportunity to present to investors, mentors, company executives, and the community at large.
“Techstars is committed to working with Cedars-Sinai to find the most innovative entrepreneurs who will bring us closer to advancing the current healthcare ecosystem,” said David Brown, co-founder and managing partner at Techstars. “Our partnership will help entrepreneurs tap into the Cedars-Sinai family of more than 19,000 physicians, employees, and volunteers to foster the next wave of healthtech entrepreneurs.”
Techstars is currently accepting applications from startup companies for one of the 10 slots in the Techstars Healthcare Accelerator, in partnership with Cedars-Sinai. The selected companies will begin their mentorship at Cedars-Sinai in March 2016, with Demo Day scheduled for June 23, 2016.
Los Angeles Mayor Eric Garcetti expressed support and appreciation for the partnership.
“Collaboration and a strong entrepreneurial spirit have always defined L.A.’s economic ecosystem, and the partnership between Cedars-Sinai and Techstars is the perfect example of institution and innovation working together to improve the lives of people across our great city,” Garcetti said. “I applaud this initiative effort to address the health care challenges of tomorrow, while empowering L.A.’s entrepreneurs to creatively build their companies today.”
West Hollywood Mayor Lindsey P. Horvath was similarly enthusiastic about the partnership and its potential.
“I’m thrilled about the launch of the Techstars Healthcare Accelerator, in partnership with Cedars-Sinai, in the City of West Hollywood,” Horvath said. “Innovation is in our DNA in West Hollywood and this partnership is a great example of how West Hollywood is attracting and nurturing leading-edge approaches to the highest level of innovation. We look forward to welcoming program participants to the city in 2016!”