EDCKC, The Downtown Council (DTC) and Nueterra Capital announce the formation of Kansas City’s newest industry vertical accelerator – the LaunchKC Health Accelerator powered by Nueterra Capital – designed for early-stage businesses that are working to disrupt the current healthcare system.
With national healthcare spending projected to grow to $3.6 trillion in 2019, up 4% from $3.5 trillion in 2018, healthcare remains a top issue for Americans. To keep up with the changing world, the healthcare industry needs to change the way healthcare is delivered and the way healthcare is consumed. Additional opportunity lies in payment reform, increasing transparency in pricing, as well as capitalizing on data and analytics. LaunchKC’s Launch Health accelerator aims to foster new ideas and support companies that are working on transformative solutions in each of these areas.
“We are delighted to announce this new accelerator,” said Drew Solomon of LaunchKC. “This continues the evolution of the LaunchKC grant competition into specific industry focus like the Fountain City Fintech accelerator and the Black & Veatch IgniteX Cleantech Accelerator. We’re also very excited to welcome Nueterra Capital as the investment sponsor. Nueterra has been on the frontlines of reforming our healthcare system and we are looking forward to their leadership and investment experience across the spectrum of healthcare and services.”
LaunchKC continues to see momentum, headed into its fifth year, having invested over two million dollars in cash grants to attract or retain 38 tech startups in Kansas City, as well as continuing to strengthen its mentorship ecosystem. Lead by EDCKC, LaunchKC has received more than 2,000 applications from interested start-ups from 25 states and 10 countries throughout the years.
“We all agree that the current healthcare system is unsustainable and it needs serious disruption. With the formation of the Launch Health accelerator, we’re looking for companies with fresh ideas on how to make healthcare more accessible, with more predictable outcomes and transparent costs. I’m hoping we see service and technology ideas that give rise to improving care and lowering costs that can be readily integrated into existing clinical workflows, and some that are truly disruptive,” said Jeremy Tasset, Nueterra Capital CEO.
The LaunchKC Health Accelerator powered by Nueterra Capital will start taking applications today (June 27, 2019) and will welcome its first cohort later this summer.
In addition to a minimum $50,000 equity investment from Nueterra Capital, companies accepted into the program will receive $10,000 in software development services from FullScale, a LaunchKC partner; $5,000 in healthcare and business legal advice from Husch Blackwell, a sponsor of LaunchKC in each of its first five years; and with additional services like accounting, marketing and business mentoring from legacy partners.
LaunchKC is also announcing that local tech and healthcare entrepreneur, Don Peterson, will lead the accelerator program as Entrepreneur in Residence. “Don adds a wealth of experience and a track-record of disrupting the healthcare industry with his most recent venture, Infusion Express,” said Solomon.
For more information, visit www.launchkc.org.
The application can be found here.