New AI healthcare accelerator launched in Baltimore
BALTIMORE, UNITED STATES — Johns Hopkins University, CareFirst BlueCross BlueShield, and venture capital firm Techstars have partnered to launch an innovative accelerator program focused on advancing healthcare artificial intelligence (AI).
This 13-week initiative — named Techstars AI Health Baltimore — aims to support up to 12 startups in the health tech, medtech, and biotech sectors by providing them with essential funding and expert guidance.
Leveraging expertise for entrepreneurial success
The accelerator combines the strengths of its three partners: Johns Hopkins University’s expertise in translating research into commercially viable businesses, CareFirst’s commitment to advancing affordable and equitable healthcare, and Techstars’ proven accelerator model. Techstars has a track record of helping entrepreneurs build successful companies, including over 600 in the healthcare sector.
“The application of artificial intelligence to healthcare will enable new avenues of innovation, creating more powerful solutions for patients more quickly,” said Andrew Cleland, Chief Investment Officer at Techstars.
“Entrepreneurs are at the center of this change as they apply cutting-edge technology to improve care and, ultimately, impact people’s lives.”
Baltimore: A hub for healthcare AI
The program will be conducted in person in Baltimore, a city recognized for its healthcare innovation, largely due to the presence of prominent institutions like CareFirst and Johns Hopkins.
This new initiative builds on the success of the Techstars Equitech program, which concluded in May 2024. UpSurge Baltimore, a key player in the city’s tech ecosystem, will continue to support Techstars founders by providing access to Baltimore’s diverse assets.
Myra Norton, head of startup acceleration at Johns Hopkins Technology Ventures, emphasized the university’s role, saying, “By collaborating with Techstars at the intersection of healthcare and AI, Johns Hopkins aims to bring more entrepreneurs to our ecosystem and catalyze more startup activity to bring high-impact healthcare innovation to market.”
Program details and application process
Adam Phillips, the former managing director of Techstars Equitech, will lead Techstars AI Health Baltimore. The 13-week program will focus on supporting startups in the healthtech, medtech, and biotech sectors. Participants will receive capital, expert guidance, and support to navigate the healthcare ecosystem and regulatory challenges.
Applications for the accelerator open on August 26, 2024, and will be accepted until November 20, 2024. Interested entrepreneurs are encouraged to apply and take advantage of this opportunity to drive innovation in healthcare.
Doba Parushev, who leads innovation and investment at CareFirst, expressed enthusiasm for the initiative, stating, “We are excited by the prospect of artificial intelligence as a transformative tool for the future of medicine, but also recognize that it needs to integrate seamlessly into workflows and systems to be most effective.”
