GE Healthcare launches $50 million technology accelerator
GE Healthcare has launched an accelerator, called five.eight, focused on startups creating technologies that can improve care delivery in the the developing world.
Portfolio companies from four social impact investors – Acumen, Aavishkaar-Intellecap Group, Unitus Seed Fund and Villgro – will be among the initial applicants for the first accelerator program, officials said.
The accelerator aims to help companies that demonstrate a goal of improving quality and accessibility of care in in developing or low-resource settings, according GE Healthcare, which is offering as much as $5 million per startup.
"We've had a continuous commitment to improving healthcare for those who need it most, but we know we cannot do it alone," said John Flannery, CEO of GE Healthcare, in a statement. "Through five.eight, our goal is to fuel the greater global health ecosystem, partnering with social impact investors and global health startups, in order to maximize impact and outcomes for populations with the greatest need."
Five.eight – the name refers to the 5.8 billion people worldwide who lack access to quality, affordable healthcare – hopes to fund 10 companies to start. The first is Bangalore-based Tricog, which aims to cloud-connected ECG devices to increase survival rates of heart attacks in India by decreasing the average time between symptoms and treatment.