Healthworx, the corporate investment and innovation arm of MACo’s Gold Corporate Partner CareFirst BlueCross BlueShield, plans to provide $200,000 to emerging healthcare startups in it’s recent partnership with the Halcyon Incubator, a Washington, D.C.-based fellowship program for entrepreneurs.
From CareFirst’s website:
The partnership between Healthworx and Halcyon ensures that one of the eight slots in each of the next four cohorts to join Halcyon is dedicated to an innovative venture in the healthcare sector and places a member of the Healthworx team on the committee that will select it. Healthworx is focused on identifying innovative solutions to reduce the cost of healthcare and improve medical outcomes for patients.
“This investment aligns with our strategy of supporting innovative entrepreneurs and startup companies that are committed to finding ways to disrupt and transform our healthcare system,” said Ricardo Johnson, Senior Director of Healthworx. “In Halcyon, we believe we have a partner that will foster the development these ventures will need to be impactful and help CareFirst transform healthcare in the region.”
Halcyon accepts eight ventures into its 18-month program twice a year. Its 11th cohort joined the program in September 2019. All Halcyon entrepreneurs receive free residency for five months, workspace, a stipend and resources including legal and technical support, mentorship, and coaching. Since Halcyon was founded in 2014, entrepreneurs selected for the incubator have, collectively, raised more than $100 million and created more than 1,000 jobs.
“Knowing that healthcare is one of the most important sectors for our social entrepreneurs, we wanted to find a partner who would work with Halcyon to ensure founders in this space have even greater support as they grow,” said Kate Goodall, Halcyon’s CEO and Co-Founder. “Collaborating with Healthworx will open new pathways for healthcare founders here at Halcyon.”
Applications to join the next cohort of emerging ventures at Halcyon Incubator are due Thursday, Oct. 10, at 5 p.m., Eastern. That group will be selected by the end of this year and join Halcyon Incubator in February 2020.
For more information, visit CareFirst’s website.
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