They each weathered a 90-day business boot camp at Cedars-Sinai Medical Center designed to jump-start health care startups from across the world.
And the 10 fledgling firms that graduated from the program at the Beverly Grove campus this month sauntered off with a combined $1.2 million in financial backing.
Some emerged with more, too, thanks to new contracts to sell digital health apps or medical devices to Amazon.com Inc., Microsoft Corp. and various hospitals, health care providers and university researchers.
“We’re excited,” said Omkar Kulkarni, director of the Cedars-Sinai health care accelerator program. “Technology can always support better quality, and better efficiency. This program … allows us to closely work with these companies to select the best emerging tech for our organization.”
The third Cedars-Sinai Accelerator Powered by Techstars, as it is formally known, provided 10 companies out of more than 600 applicants with 90 days of business training, mentors, access to world-class physicians and exposure to global network. The next accelerator will start Jan. 8.
Each firm received $120,000 in backing, including a $20,000 stock purchase and $100,000 in a convertible note for future investments by Cedars-Sinai and Techstars.
On Dec. 6, entrepreneurs from each company paraded their products during a “Shark Tank”-style Demo Day at the Beverly Hilton before 75 venture capital firms and angel investors.
The upshot for Aiva Health, a Culver City company founded by tech guru Sumeet Bhatia that pioneered the first bedside voice assistant for hospitals and clinics: signed contracts with Amazon, Sheridan In Home Care, Cedars-Sinai and Henry Mayo Newhall Hospital, Cedars-Sinai officials say.
The company aims to have a thousand devices – at $100 per bed, per month - in use by mid-2018.
CancerAid of Sydney, Australia, signed with Cedars-Sinai to provide a mobile app that alerts doctors of unusual patient symptoms. The company now plans to open an office in Los Angeles.
Seremedi’s CareScriptions of Houston, Texas, devised a mobile app that helps patients with complex cancer surgeries. It not only signed with Microsoft to sell its app to hundreds of hospitals nationwide, but Seremedi also plans to soon move its headquarters to L.A., a decision made in the wake of Hurricane Harvey earlier this year.
USC in Alzheimer’s Consortium
Alzheimer’s disease research got a big boost from the National Institutes of Health this month that will be shared by the Keck School of Medicine of USC.
The federal funds will go to a consortium that includes USC, the Mayo Clinic and two hospitals affiliated with Harvard University.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Medical Center Nurses Startups
- Aiva Health Gets Investments From Google and Amazon
- Cedars-Sinai Welcomes New Class of Startups to Incubator Program
- Cedars-Sinai Accelerator Graduates Companies with Innovative Health Care Products
- Emmaus Plans Reverse Merger, Nasdaq Listing
- Cedars-Sinai Accelerator Welcomes Nine New Digital Health Startups
- Cedars-Sinai Develops Experimental Technology to Detect Alzheimer’s
- Cedars-Sinai to Launch Health Care Accelerator