Startupbootcamp announced on April 24 the launch of its MedTech Accelerator in Hartford, designed specifically to rapidly scale healthcare-focused technology startups. The MedTech Accelerator has been established to attract new talent and technology to Hartford, and will provide entrepreneurs with the support, resources, and industry and investor connections they need to help grow their business. The program will include a special emphasis on digital health.
Founding local partners of the MedTech Accelerator are Hartford HealthCare, Trinity College, UConn’s School of Business and Technology Commercialization Services unit and CTNext. The MedTech Accelerator will join Hartford’s growing community of innovation and entrepreneurship assets, including Hartford’s InsurTech Accelerator, also launched by Startupbootcamp in 2018. Both of these efforts were catalyzed by investment from CTNext, through the Hartford/East Hartford Innovation Place Program.
“Connecticut needs economic development,” said Elliot Joseph, Chief Executive Officer, Hartford HealthCare. “We need to grow our economy. Last year, a third of all venture capital investments were made in healthcare. It is time to bring those investment dollars to Connecticut.”
Each year, 10 startups will be accepted into the three-month intensive accelerator program in Hartford. Hartford has unique assets that can be leveraged to create a world-class environment for emerging digital health companies. Startupbootcamp, and the program’s partners, will work with local stakeholders to create opportunities for participating companies to receive coordinated feedback from leading healthcare payers, providers, and research institutions in a very short period of time. As a result, digital health companies will find a place and program like no other – a center where they can receive fast, focused, and fundamental feedback that will help them develop products that will improve health, and patient experience.
To be eligible for the program, entrepreneurs must have a working prototype and have secured operating capital to fuel their current stage of growth from other sources.
“The launch of the MedTech Accelerator represents a major expansion of our innovation ecosystem and a major commitment to growth by some of Hartford’s anchor institutions,” said Hartford Mayor Luke Bronin. “Since we launched the InsurTech Accelerator less than two years ago, we’ve grown Hartford into a budding hub for innovators of all kinds faster than anyone imagined. Healthcare has been a strength of our region for a long time, and we want entrepreneurs who are changing the industry to grow their companies in our Capital City.”
The program will reach beyond Connecticut and leverage Startupbootcamp’s global network of business acceleration resources and programs, including other Digital Health programs in Miami, and Berlin.
“We believe in the vision,” said Alex Farcet, co-founder of Startupbootcamp, “and can’t wait to scout the globe for the very best startups so that we can bring them to Hartford to find new ways to improve healthcare and patient outcomes.”