GE and StartUp Health, an academy for health entrepreneurs, today announced a new three-year program designed to accelerate growth for consumer health companies. The program is part of GE’s healthymagination initiative, a $6 billion global commitment to provide better health for more people by improving the quality, access and affordability of care. Qualified consumer health companies may apply to the program starting today at http://startuphealth.net/GE.
The program will help early-stage consumer health companies navigate the challenges of building successful companies by providing access to GE’s executives and technology experts; training on scaling business operations; and a GE leadership mentor. The program also offers a virtual commercial laboratory where GE and StartUp Health will create opportunities for partnerships, customer development, and pilot programs to test products and business models.
Sue Siegel, CEO, GE healthymagination, said, “Entrepreneurs seek an environment where their great ideas can incubate and flourish. We are happy to join StartUp Health to cultivate an atmosphere that accelerates growth and serve as a resource for young consumer health companies working to improve quality, access and affordability of healthcare.”
Rafael Torres, healthymagination fund leader, GE Ventures said, “One of the biggest challenges for young companies is the ability to scale. Often access to a market or specific domain training can stand in the way of growth. Working with StartUp Health, our goal is to make connections, provide expertise, and enable collaborations to help these consumer health companies grow.”
Steven Krein, co-founder and CEO of StartUp Health said, “We have a synced vision with GE healthymagination -- to build things that matter and will make a big difference. This is the same spirit of so many entrepreneurs who are passionately working on solutions that will transform healthcare.”
Unity Stoakes, co-founder and president of StartUp Health said, “We’re thrilled to partner with GE healthymagination to help emerging consumer health companies innovate and grow. Virtually every aspect of healthcare is being re-imagined and there’s no better way to speed up the cycles of innovation than to provide entrepreneurs with ongoing support, expertise and resources to grow their business.”
Qualified consumer health companies may apply online between January 8, 2013 and February 8, 2013 at startuphealth.net/GE. Companies that have previously applied to StartUp Health will also be considered and can update their original applications online. The selected finalists will be announced after a formal review process by GE and StartUp Health. Companies will be evaluated on the following criteria:
- Focus on better quality and more affordable health care for consumers
- Unique technology and/or service that transforms health
- Potential to be a stand-alone business
- Large market and scalable business model
- Monetization strategy
For more information on the application please visit: startuphealth.net/GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and helping to cure the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
About GE’s healthymagination Initiative
GE healthymagination is about better health for more people. We’ve committed $6 billion to continuously develop and invest in innovations that deliver high-quality, more affordable healthcare to more people around the world. For more information about our healthymagination commitment, visit www.healthymagination.com.
About StartUp Health
Startup Health is a national platform for health and wellness entrepreneurship and represents a new model for helping innovation succeed in the health sector. StartUp Health is on a mission to help 1,000 Healthcare Transformers build growth businesses over the next decade through StartUp Health Academy, The StartUp Health Network, and The StartUp Health Innovation Fund. StartUp Health was founded by health tech entrepreneurs Steve Krein and Unity Stoakes, and is chaired by former TimeWarner CEO, Jerry Levin. The organization’s investors include leading health, technology, and business minds: Esther Dyson, Roger Ehrenberg, Richard Forman, Jason Finger, Linda Holliday, Howard Krein, MD, PhD, Jon Miller, Jeff Stewart, and Artists & Instigators. Learn more and apply at startuphealth.com or follow @startuphealth.
Megan Parker, 646-682-5605
Unity Stoakes, 646-416-4121
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