GE Ventures and StartUp Health are expanding their partnership to invest in and coach startups focused on several areas of healthcare innovation, including virtual health platforms and next generation payment solutions.
Over the next year, the two parties will accept at least 10 companies into the three-year-long program, designed to help startups commercialize and grow their solutions. Each of the companies accepted will be eligible for a $50,000 investment, with the opportunity for additional investment as they progress. Also, as part of the deal, companies will get access to GE Ventures' executives and technology experts, as well as StartUp Health Academy's coaching and global network of investors and customers.
Over the next year, the two parties will accept at least 10 companies into the three-year-long program."Our initial program's participants have hit some amazing milestones – including two follow-on investments from GE Ventures and one acquisition by a major healthcare company," said Ruchita Sinha, Director of Healthcare, GE Ventures. "We look forward to extending the program to a new group of entrepreneurs, offering them StartUp Health's powerful platform to gain traction, and GE's global network to help them scale."
Interested companies can apply at StartUpHealth.com/GE through November 2, 2015. Those who have have previously applied to (or are already in) StartUp Health Academy will also be considered for this opportunity and should complete a new application, as well.
This isn't the first time GE and StartUp Health are co-operating — in 2013, the two parties launched GE and StartUp Health Entrepreneurship Program with 15 consumer health companies.