StartUp Health Academy with GE Ventures
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Helping Startups Grow
"We’re incredibly excited to add Biome Analytics, Jiseki Health and WinguMD to the growing portfolio of amazing companies in StartUp Health Academy’s GE Program. We’re looking forward to investing in the next generation of Health Transformers creating technologies and business models that enable health systems, plans, employers and consumers to adapt to the rapid shift to value-based care, an area in great need of new solutions." Ruchita Sinha, GE Ventures
The StartUp Health Academy helps digital health entrepreneurs navigate the unique challenges of building successful growth companies. Together with GE Ventures, StartUp Health is expanding the success of their relationship to foster innovation in the transition to value-based care, with specific focus on financial / operational solutions. Select companies will be invited to participate in the StartUp Health Academy, a lifetime program for every stage of growth that provides coaching, community, access and promotion to each of our Health Transformers. Companies selected into the Program will have access to GE Ventures experts, business leaders and customers, with eligibility for a $50,000 investment.Press Release
Criteria Are you a Health Transformer™
Health Transformers are those extraordinary and passionate entrepreneurs and innovators who are on a mission to solve a great challenge of our time: fixing a broken healthcare system in a way that improves care and dramatically reduces costs.
Over the year, GE Ventures and StartUp Health are inviting Health Transformers focused on a series of themes to join the StartUp Health Academy.
Companies will be selected in a series of calls for innovations, with the current call for applications focusing on the following theme:
Financial and Operational Systems: With the shift in reimbursement models, health systems and plans will have to streamline operations and eliminate back-office inefficiencies. Some of the main hurdles in doing so are systems that do not work together, processes that largely manual, payments systems that are unnecessarily complex, and an evolving set of billing codes (ICD-10). New technologies & business models of interest will be in the following areas:
- Identification of gaps in care
- New insurance models
- New billing / payment models, including cost transparency
- Risk adjustment optimization
Application Process & Timeline Instructions and important dates
StartUp Health is now accepting applications from companies for financial / operational workflow solutions.
Step 1: Review the criteria to make sure your startup qualifies. If you want to apply, submit your application online by July 15, 2016 (11:59 PM EDT). Note: this is a new deadline that has been extended by one week. All applications must be in English and nothing confidential or proprietary should be included. You are granting no rights to any intellectual property by submitting an application.
Step 2: GE Ventures and StartUp Health will review all applications and identify companies we’d like to learn more about. Applicants may be contacted for additional information during the review phase.
Step 3: Select companies will be invited to the interview round (in person or videoconference).
Step 4: Select companies from the interview round will be invited to complete diligence and formally enroll in the Program.
Step 5: Initial companies will be publicly announced in Fall 2016.
*There will be additional calls for innovations around new themes throughout 2016.
Program Benefits Providing access to expertise and resources to build and scale your business
GE Ventures and StartUp Health have designed this Program to help startups build growth businesses in healthcare. The Program is open to selected companies in exchange for a 2-8% equity ownership by GE Ventures and StartUp Health LLC.
We have specifically designed the Academy and this Program to provide maximum impact over the long-term relationship at regular intervals, rather than ad-hoc mentoring.
- Enrollment in the StartUp Health Academy, a long-term entrepreneurial coaching program supporting companies through the biggest challenges and opportunities during each phase of their startup
- Participating companies will be eligible to receive an investment of $50,000 total ($25,000 from GE Ventures, $25,000 from StartUp Health Ventures)
- Access to Quarterly Recalibration Workshops to step back every 90 days and assess your progress and growth
- Access to Action Plan Sessions, StartUp Health-led sessions on customer development, capital raising, team building and brand
- Access to Weekly Feedback Sessions, StartUp Health-led coaching sessions focused on your story, traction and deals
- Joining the Health Transformer Community, a trusted peer network of entrepreneurs
- Monthly hangouts and dinners
- Access to Network Access Sessions, weekly pitches to customers, investors and industry experts, including, on a select basis, access to GE Ventures experts, business leaders and customers
- Access to the StartUp Health Network, a curated network of industry stakeholders including customers, investors and experts
- Promotion via social media (35,000+ followers), weekly newsletter (20,000+ readers)
- Promotion via StartUp Health NOW, a weekly video podcast
- Thought leadership and promotional opportunities through events, social media, newsletters and other digital mediums
- Access to the StartUp Health Academy App, a platform to collaborate without friction and access intel and profiles on committed industrystakeholders
- Access to $350K+ in perks and discounts
- StartUp Health Insights, a comprehensive database of digital health funding, tracking over $15B since 2010
FAQ and Terms Important information to review before applying
What role does GE Ventures play in the Program and what commitment has GE Ventures made?
GE Ventures is partnering with StartUp Health (a global health innovation company) to create this three-year Program, which is designed to accelerate and scale innovative healthcare companies. The Program is part of the StartUp Health Academy and supported by GE Ventures, as part of its commitment to grow companies that advance industries and improve lives. The Program will help up to 10 healthcare companies navigate the unique challenges of building successful growth companies. Selected companies are eligible for an initial co-investment of $50,000 from GE Ventures and StartUp Health Ventures. There may be additional opportunities for investment based on the progress of each company and GE Ventures will also offer select strategic introductions to GE experts and customers.
What are the criteria for this Program?
You can view the criteria here. Please note, employees and contractors of General Electric Company and its affiliates or subsidiaries are not eligible to apply to the Program.
Do I have to relocate my company or be somewhere specific to participate?
It is strongly preferred that companies participating in the GE Ventures and StartUp Health Program be located in the United States or be willing to relocate and incorporate in the United States. International startups are encouraged to apply to the StartUp Health Academy outside of this Program.
Are current StartUp Health Academy companies eligible to apply?
Companies that have previously applied to (or are already in) the StartUp Health Academy will be considered for this opportunity and should complete a new application by the July 15 deadline.
How does the application process work?
The application is online and includes questions about your business and team. All applications should be submitted in English. Apply here. Even if your company is not initially selected, you may be considered for a future theme, so we encourage you to stay in touch and update your application.
How detailed does my idea need to be in the application? Will you keep my information private?
We specifically discourage applicants from submitting formal business plans or anything that you may deem proprietary or confidential. The information you share will be reviewed by representatives from GE Ventures and StartUp Health as part of the application review process but otherwise will be kept private.
How does the review and selection process work?
The StartUp Health team will manage the review and selection process. The team will review all applications and narrow the applicant pool down based on application responses and considerations set forth in the Program criteria. Top applicants will undergo further review by both GE Ventures and StartUp Health, who will then select companies to invite to the StartUp Health Academy and GE Ventures and StartUp Health Program.
If my company is accepted into the Program, can we only commercialize our products with GE?
No, this Program does not preclude a startup from working with or commercializing with other partners. This Program is designed to help participating companies leverage GE's expertise, resources and scale to accelerate their business.
Will GE Ventures invest capital in my company as part of this Program?
Selected companies will be eligible to receive an initial investment of $50,000 total ($25,000 from GE Ventures, $25,000 from StartUp Health). The initial $50,000 investment will be in connection with an unrelated third party financing of $250,000 or more and on the same terms and conditions, subject to confirmatory diligence and documentation. As your company progresses, there may be additional opportunities for investment, although this is not guaranteed.
What is the cost to joining this Program?
There is no cash cost for the Program, however selected companies who join the Program must share between 2-8% equity ownership with GE Ventures and StartUp Health LLC based on the stage of your company when you enter the Program.
Does GE or StartUp Health retain the intellectual property (IP) my company develops during the program?
No. Neither GE nor StartUp Health will retain IP developed by the participating companies. The IP developed by a participating company is retained by the company.
Is a participating company's product or service guaranteed to be used or distributed by GE?
There are no guarantees for this, however, enrollment in the Program may grant access to strategic introductions to GE customers on a case-by-case basis. While the goal of the Program is for participating companies to develop products and services that can ultimately be leveraged by GE, GE Ventures makes no guarantees that any product or service of a participating company will be purchased, licensed or distributed by GE.
Personal information submitted in conjunction with your application to the the StartUp Health Academy and GE Ventures and StartUp Health Program is controlled by StartUp Health, LLC, and will be used by StartUp Health and GE Ventures reviewers for the purpose of evaluating your application to the Program. Personal information may be stored outside your country. StartUp Health will not sell or otherwise disclose personal information about applicants except as described here.
We may share information provided by applicants with service providers we have retained to perform services on our behalf. These service providers are contractually restricted from using or disclosing the information except as necessary to perform services on our behalf or to comply with legal requirements.
We may share information provided by applicants with StartUp Health partners and affiliates for evaluation purposes, however such partners and/or affiliates will be contractually restricted from using or disclosing the information except as necessary for such purpose and/or or to comply with legal requirements.
We may disclose information about you (i) if we are required to do so by law or legal process, (ii) to law enforcement authorities or other government officials, (iii) when we believe disclosure is necessary and appropriate to prevent physical harm or financial loss or in connection with an investigation of suspected or actual illegal activity or (iv) if this is necessary to protect the vital interests of your company.
Applicants can log in to update, edit or delete information on their application at any time. StartUp Health will securely store and retain your application. However, you may choose to edit or delete information on your application at any time during this period. Once you delete information from your application it cannot be restored or retrieved.
StartUp Health maintains administrative, technical and physical safeguards to protect against unauthorized disclosure, use, alteration or destruction of the personal information you provide on this site and employs reasonable technologies to help keep the personal information you provide on this site secure.
This site is not directed at children under the age of 13 and all services available on this site are intended to be used by individuals over 18 years of age. We do not knowingly collect, maintain or store personal information, via this site or otherwise, from children under 13 years of age.
We reserve the right to change or update this notice from time to time. Please check this site periodically for such changes.
If you have any questions or comments about these terms or if you need help updating your information or your preferences, please contact us.
Based on the criteria and considerations posted on the startuphealth.com/GE website, GE Ventures and StartUp Health will select up to ten (10) applicants to be afforded an opportunity to participate in the GE Ventures and StartUp Health Program (the “Program”). GE Ventures and StartUp Health are under no obligation to select any applicants if none of the applications submitted meet the designated criteria and considerations.
Submission of an application and participation in the Program create no business relationship between you and/or your company and GE Ventures, nor do they create an obligation on either your part, your company’s part or GE Ventures part to enter into any further business relationship or to sign any commercial agreement. If an applicant is selected for participation in the Program, GE Ventures may decide, but is under no obligation, to further evaluate your business to determine whether a more formal business relationship is desirable.
Nothing in the application or Program participation requires you to negotiate or do business with GE. You are free to discuss your business, innovations, products and services with other parties and you are free to contract with any other parties as long as you do not sign any agreements or undertake any obligations which would conflict with any agreement which you do enter into with GE.
Application Information You Submit
You acknowledge that you are responsible for the information in the application, including the legality, reliability, appropriateness and originality of such information. Your application should not include any information that (i) is confidential, proprietary, false, fraudulent, libelous, defamatory, obscene, threatening, invasive of privacy or publicity rights, infringing on intellectual property rights, abusive, illegal or otherwise objectionable, or (ii) violates the rights of any party or otherwise give rise to liability or violate any law.
You represent and warrant that the information in your application is accurate and that you have submitted nothing confidential or proprietary.
Application Notification and Program Dates
You acknowledge that the company selection notification date and Program start date are subject to change. Applicants will be notified of any such changes to these dates via email and on the application website. Neither StartUp Heath, GE Ventures nor the Program are responsible for any failure of an applicant to receive notice of such date changes.
Intellectual Property Rights
By submitting an application, you are not granting StartUp Health, GE Ventures or the Program any rights to the Intellectual Property of yourself or your company.
By submitting an application, you consent to the use by StartUp Health, GE Ventures and the Program of your name, likeness, and image and your company’s name, in connection with the Program, in any media or format now known or hereafter invented, in any and all locations, without any payment to or further approval by you. You agree that this consent is perpetual and cannot be revoked.
You agree that nothing in the official rules grants you a right or license to use the StartUp Health or GE Ventures name or any StartUp Health or GE Ventures trademark or service mark. You grant to the Program, StartUp Health and GE Ventures the right to include your company name as an applicant on the respective Program-related websites. Other than these uses, you are not granting to StartUp Health, GE Ventures or the Program, any rights to your intellectual property, including the GE Trademarks.
Since StartUp Health and GE Ventures do not wish to receive or hold any submitted information “in confidence,” it is agreed that, with respect to your application, no confidential relationship or obligation of secrecy is established between you, your company or the owner of any part of your company, and either StartUp Health, GE Ventures or the Program. If you are invited to and ultimately do participate in the Program, GE Ventures may offer to sign a confidentiality agreement as part of further discussions about your company and its innovations. StartUp Health and GE Ventures shall have no liability or responsibility for use by any other individual or entity of any aspect of your application.
By submitting an application, you represent and warrant that all information in the application is true and complete to the best of your knowledge, that you have the right and authority to submit the application on your own behalf or on behalf of your company and that the information in your application:
(a) is your own, or is used by permission with full and proper credit given within your application;
(b) does not contain confidential information or trade secrets (yours, your company’s or anyone elses) and is not the subject of a registered patent or pending patent application;
(c) does not violate or infringe upon the patent rights, industrial design rights, copyrights, trademarks, rights of privacy, publicity or other intellectual property or other rights of any person or entity;
(d) does not contain malicious code, such as viruses, timebombs, cancelbots, worms, Trojan horses or other potentially harmful programs or other material or information;
(e) does not and will not violate any applicable law, statute, ordinance, rule or regulation; and
(f) does not trigger any reporting or royalty obligation to any third party.
A breach of warranty set out in this clause will result in the corresponding application being invalid. In addition, you agree to indemnify StartUp Health, GE Ventures and the Program against all loss, damages and costs they may incurred arising out of such breach of warranty.
You acknowledge that multiple applicants may submit applications that contain concepts, business models and/or technologies similar to those of yours and/or your company, and that GE Ventures, its subsidiaries and business partners may already be investigating or developing technical solutions or business activities that are related or similar to those that you disclose in your application. You acknowledge and agree that GE Ventures’ action with respect to another application, even if similar to your application, shall not create in GE Ventures any liability to you or others. Further, GE Ventures is not and shall not be restricted in any way from pursuing, developing, or commercializing, in any way that GE Ventures sees fit, independent of you and at GE Ventures’ sole discretion, any technology that is created independent of your application. For the avoidance of doubt, you acknowledge that GE Ventures is not obligated to take any business development action whatsoever with regard to your application.
If Selected for Participation
Initial applicants selected for participation in the Program will be notified via email before the end of September 2016, with additional selections happening throughout 2016. There also will be a public announcement of those applicants selected. Selected applicants will be afforded an opportunity to participate in the Program and will be invited to complete the Program enrollment process, which will include signing an agreement to participate in the Program and submitting to the Program some additional documents. Program benefits include those posted on startuphealth.com/GE.
StartUp Health Academy Overview
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