Startups

The fund will partner with entrepreneurs to build and scale companies that drive the evolution and sustainability of the healthcare system.

Aside from money, the two parties will also provide mentorship, business development, technology and access to local leaders, investors and potential customers.

Made to leverage Techstars' network of corporate partners, the program provides new business opportunities to post accelerator entrepreneurs.

Under the deal, those signing up with Oscar will get a Misfit fitness tracker, and earn breaks on their premiums for healthy behavior patterns.

The unique model is made to stimulate collaboration between inventors, entrepreneurs and industry experts to improve quality of service and reduce cost.

Bessemer Venture Partners and Kaiser Permanente Ventures led the round, with participation from KPCB, Montreux Equity Partners and Great Oaks Ventures.

The venture is looking to incubate companies led by Harvard alumni; in order to join it, at least one founding team member must be a recent Harvard graduate.

Startups in practically all stages of development are welcome, from well-thought-out ideas still in their presentation stages to proof-of-concept prototypes.

Each of the 10 startup companies has been offered an initial seed investment of $50,000 and is now participating in the three-month program in Salt Lake City.

The plan is to use the new money to expand the number of English classes, hire new instructors and launch the service all around the world next month.