National healthcare incubator 1501 Health is inviting early-stage healthcare startups to apply to its year-long cohort to help scale their solutions through investment and resources. The incubator is accepting applications until October 25, 2022.
Companies chosen to participate in the program will receive up to $125,000 in investment capital – a 25 percent increase over last year to account for the challenging landscape for early-stage companies raising capital, according to 1501 Health Co-Manager, Soo Jeon. Members of the cohort will have access to unique mentorship opportunities and support from payer and provider experts as they navigate the extremely complex “pay-vider system,” along with networking and educational events with other startups, investors, and stakeholders.
Launched in 2021 by Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield (CareFirst) and LifeBridge Health, a leading health system in Maryland, 13 companies have benefitted from the program to date, and the team is looking for another 7-8 startups for the third cohort’s kickoff in early 2023.
Startups
Is your healthcare company right for 1501 Health? If you are leveraging emerging technologies or have a team that is passionately working on a groundbreaking solution that could improve healthcare access, outcomes or patient/provider experience, you should consider applying to participate in 1501 Health:
- Improve healthcare access
- Reduce the total cost of care
- Improve clinical outcomes
- Improve patient and provider experience
Then you should consider applying to participate in 1501 Health.
To be eligible to participate you must:
- Be a healthcare company offering healthcare technologies or services
- Have a clear, scalable product or model that is currently in or ready to launch into market
- Have a full-time team
- Be a for-profit incorporated company
You cannot:
- Be a pharmaceutical company