Launching a new venture is extremely difficult. That’s why healthcare incubators and accelerators can play a vital role in a company’s success early on by connecting them with financing, work space, mentors, customers, business programs and more.
Healthcare is a $5 trillion industry globally and about half that is U.S. healthcare expenditures. And it’s a growing industry. The Austin and San Antonio region is a hotbed of healthcare activity. It’s surprising San Antonio doesn’t have a healthcare accelerator considering all of the major cities in Texas do. San Antonio has been extremely active in commercializing technology spinning out of the University of Texas Health Science Center and the University of Texas at San Antonio.
Austin has a few incubators and accelerators focused on the healthcare industry and there are a few more in Dallas and Houston. Here’s a list of the top ones in Texas.
AthenaHealth More Disruption Please – Austin – this accelerator provides seed stage capital and access to healthcare experts and exposure to clients. It also provides workspace in downtown Austin and mentoring and other tailored programming. Companies are admitted on a rolling basis. The accelerator generally lasts seven months to a year. AthenaHealth also recently acquired Patient IO, an Austin-based startup, that participated in its program.
Austin Technology Incubator’s Health and Bioscience Program – Austin – this accelerator is based at the University of Texas at Austin and is a program of UT’s IC2 Institute. It is more than 25 years old and is Austin’s oldest incubator and one of the oldest in the country. It doesn’t provide funding but has connections to many angel and VC investors and a vast network. It does provide coworking space, mentoring and lots of other programs. Startups are admitted on a rolling basis.
Capital Factory – Austin – This accelerator is not solely focused on the healthcare industry, but it has many healthcare startups that got their start there like Chiron Health and Macromoltek. It provides co-working space and access to capital and mentoring, networking and other programs.
Texas Health Catalyst – Austin – this is the newest accelerator in Austin as the Dell Medical School at the University of Texas just admitted it inaugural class in June. This is just for Dell Medical School clinical affiliates, UT Austin faculty members and Seton healthcare clinicians. The program, administered by the Dell Medical School, provides up to $100,000 in seed stage financing for one year. The program accepts applications in June.
Health Wildcatters – Dallas – This accelerator is on its fourth class of startups. Its program runs for 12 weeks each Fall. The program provides $30,000 in seed investment for an 8 percent equity stake, co-working offices in downtown Dallas, meeting spaces and access to a network of mentors. It culminates with the Pitch event at the end.
TMCx – Texas Medical Center Accelerator – Houston – This accelerator, located at TMC Innovation Institute, gives startups work space, tailored programs, access to 120 advisers. It doesn’t take any equity or charge membership fees. It is a four-month long program that ends with a Demo Day.
This content appears as it was originally published in SiliconHills News.