It’s an exciting moment in the Twin Cities! This week marks the official start of the first UnitedHealthcare Accelerator powered by Techstars. This Minneapolis-based mentorship-driven accelerator is focused on digital health innovation, supported by executive leaders and subject matter experts from UnitedHealthcare along with the Techstars worldwide network. For the next three months, the 10 companies selected for this year’s program will iterate on their business models and accelerate their companies through access to capital and hands-on mentorship.
The current state of health care is ripe for change, giving entrepreneurs many worthy targets to address with new, innovative ideas and solutions. In addition, outdated technology burdens payors, providers, and patients alike. Promisingly, the amount of venture capital dollars raised by healthtech startups continues to reach new heights year over year. Last year’s record of $8.2 billion was spread across 376 different investments. In the first 2 quarters of 2019 VC’s have already backed 180 digital health startups to the tune of $4.2 billion.
Our founding class of 10 companies is focused on using technology to improve access to care, quality of care, cost of care and gaps in care. Combining technical innovation, clinical expertise and evidence-based guidance from UnitedHealthcare with entrepreneurial expertise from Techstars will enable these 10 startups to create a ripple throughout the modern healthcare ecosystem.
Selection for our accelerator began with a brainstorm where key leaders across UnitedHealthcare ideated on today’s most pressing health problems. A target list was created, and the Techstars team went on the road – recruiting and interviewing hundreds of startups from 33 different countries. This pipeline was narrowed down, and the final group of 10 companies emerged.
It is my pleasure to introduce the Class of 2019 for the UnitedHealthcare Accelerator powered by Techstars!
Virtue’s platform Eva helps women have a healthier menopause through an evidence-based program and data-driven insights.
AI symptom checking + care routing + price transparency + scheduling = digital front door for healthcare.
Phraze lets healthcare providers focus on patient care by automating their clinical documentation requirements with its AI-powered digital medical scribe.
Mountain helps you manage healthcare finances while saving you money on essential primary care services.
Personalized nutrition platform.
Shurpa is solving the logistics of transportation, with a focus on managed care organizations.
Empowering seniors to take charge of their health and find community.
Revealix makes monitoring diabetic limb health simple. Our dedicated suite of mobile imaging and connected health tools helps reduce amputation rates through the early identification and engagement of at-risk patients.
Our smart walker attachment helps seniors maintain their independence by monitoring wellness, health, and safety.
Triggr Health is a real-time texting platform that helps drive meaningful engagement for individuals traditionally disengaged from their health.
The future of digital health is one step closer. Want to join us on the journey? Click here to learn more about Techstars and here to learn more about our UnitedHealthcare Accelerator powered by Techstars.
The digital health market is transforming before our eyes. Unprecedented capital is penetrating the health-tech sector, with startups seeing over $8B in funding in 2018, exceeding 2017’s $5.7B venture funding, and digital health IPOs are starting to infiltrate Wall Street. Digital health acquisitions are making headlines as well, like that of PillPack, a Techstars portfolio company, which was acquired by Amazon in 2018 for nearly $1B.
With the market primed for innovation, the UnitedHealthcare Accelerator Powered by Techstars is launching in Minneapolis to collaboratively develop innovations in digital health and wellness.
“Advances in sensor technology, pattern detection, personalization efforts, behavioral science, and our understanding of wellbeing are all coalescing. At the same juncture, the legacy model of care has led us to a point where costs are unsustainable and population health trends are going in the wrong direction,” said Matt Miller, managing director of the program. “There has never been a better time to pursue innovation and disruption across the continuum of health services.”
Miller’s background in health care is extensive. He’s been an angel investor, an entrepreneur, an early-stage startup employee, and a corporate leader in the industry. He also has a doctorate with research focused on health behavior change interventions.
“All of these experiences blend into my new role as managing director. Knowing how challenging it is to be an entrepreneur, I am committed to helping founders be successful without sacrificing their own health. I look forward to helping them identify and pursue opportunities, navigate complex challenges, grow their businesses, and transform the health care system.”
UnitedHealthcare is focused on making health care simpler, more personal, and more accessible. The UnitedHealthcare Accelerator Powered by Techstars will focus on how technology can be leveraged to solve today’s most present problems across the industry. This mentorship-driven accelerator is one way UnitedHealthcare is showing its commitment to innovation in the industry.
“Some of the most complex parts of health care are the ripest for innovation,” says Joel Nelson, vice president of innovation at UnitedHealthcare and program director for the accelerator. “As a health care company that serves nearly 50 million people, we hold ourselves accountable to helping people live healthier lives – our partnership with Techstars is another example of our commitment to developing innovations that make the health system work better for everyone.”
Applications for the inaugural class of the UnitedHealthcare Accelerator Powered by Techstars are open now through May 12, 2019. The accelerator is interested in startup technologies focused on scalable solutions for health behavior change, aging in place, mental health, addiction, nutrition, fitness, wellbeing, complex care coordination, direct-to-consumer wellness innovation, data integration, social determinants of health, communication tools for health professionals, care automation, remote diagnostics, and more.
Does the UnitedHealthcare Accelerator Powered by Techstars sound like a good fit for your company? If so, we want to hear from you! Read through our FAQs to learn more about Techstars accelerators, request more information about this program, schedule one-on-one office hours, join us for an AMA (Ask Me Anything) on April 25, attend a Meet & Greet event, or apply now through May 12, 2019.
Techstars, the worldwide network that helps entrepreneurs succeed, today announced that applications are now open for 2019’s Q4 mentorship-driven accelerator programs. These programs that are officially receiving applications:
- Barclays Accelerator, Powered by Techstars – NYC (New York)
- Techstars Montreal AI Accelerator
- Techstars Energy Accelerator in Partnership with Equinor (Oslo)
- Techstars Paris Accelerator
- Colliers Proptech Accelerator Powered by Techstars (Toronto)
- The Heritage Group Accelerator Powered by Techstars (Indianapolis)
- UnitedHealthcare Accelerator Powered by Techstars (Minneapolis)
- EPS MaritimeTech Accelerator powered by Techstars (Singapore)
- Alexa Accelerator, powered by Techstars (Seattle)
These nine programs include three new accelerators that will be celebrating their inaugural classes in 2019. The Heritage Group Accelerator Powered by Techstars is digging into technologies across construction, materials, environmental and recycling, and energy and refining. The UnitedHealthcare Accelerator Powered by Techstars is focusing on health care innovations supporting payer and care provider efforts. The EPS MaritimeTech Accelerator powered by Techstars is geared towards technologies with applications to the maritime industry including regulations, fuel efficiency, vessel operations, digitalization, and navigation. Together with our corporate partners, we can’t wait to find the first Techstars classes of startups that are going to transform these industries.
Barclays Accelerator, Powered by Techstars heads into its fifth year of program having achieved amazing success, with notable alumni such as RealBlocks, Sigma Ratings and Novo. Alexa Accelerator, powered by Techstars is going into its third year of program looking for the next class of companies focused on voice technology innovation. Colliers Proptech Accelerator Powered by Techstars, Techstars Energy Accelerator in Partnership with Equinor, Techstars Montreal AI Accelerator and Techstars Paris Accelerator are all gearing up for their second year of program after strong performances in 2018—the companies from these classes are securing funding rounds and growing fast.
Techstars mentorship-driven accelerator programs attract the best startups and founders, who then #DoMoreFaster—participants often say that they accomplish more in the three months of the program than they would in a year and a half, working on their own. We’re proud of our record of success: check our our top 50 Techstars alumni companies and their funding raised to date. Of the nearly 1600 companies that have come through our accelerator program, nearly 90% are active or have been acquired, and between them they have raised over $6.5 billion!
Our alumni entrepreneurs agree that the Techstars experience has been essential to their success: watch these founders talk about exactly how we helped them grow.
Techstars, the worldwide network that helps entrepreneurs succeed, and UnitedHealthcare, a leading health care company, today announced the UnitedHealthcare Accelerator Powered by Techstars. This new mentorship-driven accelerator will be based in Minneapolis, launching in September 2019. UnitedHealthcare is one of the businesses of UnitedHealth Group, a diversified health care company ranked fifth on the Fortune 500.
The UnitedHealthcare Accelerator Powered by Techstars will focus on new health care innovations that support payer and care provider efforts to help people live healthier lives and make the health system work better for everyone. The program will focus on digital health and wellness solutions that help support and enhance the experience of UnitedHealthcare members.
Ten startups will be selected from applicants across the globe, and participating companies will gather in Minneapolis for an intensive three-month program of research, development, mentorship, and collaboration. The program will culminate in a Demo Day, at which each of the 10 companies will pitch its accelerated business model to an audience of venture capitalists, corporate innovation leaders, and industry experts. Demo Day will facilitate venture investment in the companies and interest in broadening and energizing the entrepreneurial community within the health care field.
“Our passion and drive for innovation matched with Techstars’ proven method of startup acceleration will create an environment to build and scale cutting-edge digital health and wellness technology,” said Joel Nelson, Vice President of Innovation, UnitedHealthcare. “Bringing together entrepreneurial spirit and mentorship helps us transform health care in the United States and abroad.”
Applications for the UnitedHealthcare Accelerator Powered by Techstars will open February 18, 2019. Startups interested in applying are encouraged to express interest on the Techstars General Interest form or learn more on the UnitedHealthcare Accelerator Powered by Techstars page.