Earlier in the week, as the Cedars-Sinai Accelerator in Los Angeles announced the launch of its fourth class of graduates into the market, as many as eight healthcare technology start-ups went on to receive an incredible boost towards long-term success.
With the assistance of TechStars, an association that works with entrepreneurs to nurture their ideas, each participant went on to complete an intensive three-month program that came inclusive of exposure to a global entrepreneurial network and mentorships with Cedars-Sinai’s executives and physicians. As per reports, every company got an initial investment of $120,000.
The very first cohort of Cedars-Sinai was launched back in 2015. Also as per reports, in the three previous classes, start-ups have jointly hired nearly 200 individuals while also raising approximately $100 million in investment funds following program completion.
As per reports, participants involved in the latest class, chosen from a global search that involves 400 applicants, have been working towards developing technologies to enhance patient care and health system efficiency via hardware innovation, artificial intelligence applications, and other digital platforms and reportedly several of them have already gone on to secure commercial contracts with companies and health systems.
In a news release, MD, chair of the Department of Surgery, vice dean for Academic Affairs and vice president of Interventional Services at Cedars-Sinai, Bruce L. Gewertz went on to say, “All companies involved in this accelerator class are working at the pinnacle of technologies that can better the delivery of care.”
Gewertz further added, “The thing that impressed me the most, even beyond their passion for the work, specifically in the area of machine learning, was that these companies would be offering physicians an opportunity to increase their focus on patient care and in turn reduce the potential for risk.”