TLDR:
Johns Hopkins, CareFirst, and venture capital firm Techstars are partnering to launch an AI accelerator program to support healthcare AI tools in early stages of development. The 13-week program will provide startups with technical, financial, and clinical research support, with the potential for initial investments of up to $120,000 for selected companies.
Article Summary:
Johns Hopkins University, CareFirst BlueCross BlueShield, and Techstars have joined forces to create an AI accelerator program aimed at supporting healthcare AI tools in their early stages of development. The program, scheduled to begin in March 2025 in Baltimore, will be a 13-week-long in-person event designed to offer startups options for technical, financial, and clinical research support. Up to 12 companies will be selected to participate in each accelerator, with Techstars pledging initial investments of up to $120,000 for selected companies that complete the program.
The program is open to AI startups in all aspects of healthcare, including medtech, biotech, and health IT. Participants will have the opportunity to network, receive educational classes, and improve their products, even if they do not secure a financial investment. The initiative is seen as a way to integrate AI seamlessly into healthcare workflows and systems to maximize its effectiveness.
Doba Parushev, who leads innovation and investment at CareFirst, expressed excitement about the potential of AI in transforming the future of medicine. The program aims to provide practical solutions and leverage CareFirst’s experience in supporting millions of members to deliver value to the market. Adam Phillips, former managing director of Techstars Equitech, will lead the 13-week course, which is set to run twice a year.
Interested startups have until November 20 to apply for the program, which is expected to not only provide financial support but also valuable resources and networking opportunities for participants. The collaboration between Johns Hopkins, CareFirst, and Techstars highlights the growing interest in leveraging AI technology to drive innovation in healthcare.
