From Sandbox Comes Healthbox, A Healthcare Startup AcceleratorBY: Chris Young | June 7, 2011
When you think of an industry that rapidly embraces technology innovation, healthcare is probably not the first to come to mind. Well, Healthbox aims to change just that.
Healthbox is a business accelerator focused on increasing innovation in the healthcare industry by providing healthcare entrepreneurs with a platform to rapidly grow their companies. Healthbox, a company from Sandbox Industries, aims to build on the success of the technology accelerator Excelerate Labs.
Similar to other industry accelerators, Healthbox, through a competitive application process, plans to select ten entrepreneurial teams from around the United States to participate in a three month program to promote rapid business development. Target applicants for Healthbox include entrepreneurs with ideas that identify emerging healthcare technology and technology-enabled services that address specific healthcare industry challenges. The applicant pool will draw from a diverse group of companies that target solutions across the spectrum of healthcare; including health IT, informatics, administration and back office, health programs, consumer driven solutions, and healthcare finance, among other focus areas.
The accelerator program will provide selected companies with critical resources; including access to industry leaders, investors, workshops, workspace, and $50,000 in seed capital. At the end of the program, the entrepreneurs have the opportunity to pitch to a targeted group of angel and venture capital investors.
“Healthbox aims to stimulate innovation and empower entrepreneurs with unrivaled mentorship and network access that are critical to success. Our objective is to help participating companies rapidly accelerate their growth and substantially increase their appeal to potential investors by program’s end,” said Dan Phillips, director of the program.
The Healthbox program is expected to begin accepting applications for the first Healthbox class in late summer of 2011 for the program beginning in early 2012.
We are very excited to see the healthcare industry embrace innovation through business accelerators and can’t wait to see what role Healthbox will play in the future of healthcare.