The Cedars-Sinai Accelerator is transforming healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market.
This three-month program, based in Los Angeles, California, provides companies with $100,000 in funding, mentorship from more than 300 leading clinicians and executives, access to Cedars-Sinai, and exposure to a broad network of healthcare experts, including health system executives from a wide range of organizations, experienced healthcare entrepreneurs, other industry advisers, and healthcare investors. Since 2015, the accelerator has helped dozens of companies transform healthcare delivery and patient care.
WHAT WE DO
The Cedars-Sinai Accelerator supports the growth and development of early-stage companies focused on improving healthcare and healthcare delivery.
Healthcare is complex, and building a successful company in the healthcare industry takes more than a great idea. At Cedars-Sinai, we seek to help healthcare entrepreneurs by giving them mentorship, guidance and support to help them develop and scale innovative companies. Our goal is to accelerate the development of the next generation of companies who will transform care at Cedars-Sinai and beyond.
There is no better way to navigate the complexities of working in healthcare than to get hands-on experience in an active health system environment. By spending three months embedded in a large medical center, companies we work with gain a deeper understanding of the context and environment of their potential customers.
WHAT WE PROVIDE
We invest $100,000 in each company we select for participation, but the true value is the mentorship and networking provided by the program.
The financial investment is a small part of the overall program. Some companies need the funding in order to participate in the program, while many others have already raised significant amounts of capital. Typically, the financial investment is less important to our participant companies than the access and feedback the program provides.
The more significant investment we make in our companies is time. We believe that the companies selected for the program have created (or will create) meaningful solutions to challenges in the healthcare industry. We invest the time and energy of stakeholders across the health system to advance the development of products that we believe will improve care and care delivery.
Once or twice each year, we run a three-month program in Los Angeles. Our next program will kick off in June 2019. During this time, we open every door at Cedars-Sinai to our participant companies, giving them access to insight and mentorship from end-users, stakeholders, and decision-makers relevant to their company.
To apply to the Cedars-Sinai Accelerator, start by filling out an application form. The most promising companies go through interviews with our accelerator staff as well as our health system leadership, ensuring that there is interest in, and excitement for participant companies from the entire organization.
Most of the founders in every company we accept are expected to be in Los Angeles for the duration of the three-month program. During those three months, founders are paired with relevant mentors, both from Cedars-Sinai and external organizations, and work to gather feedback and iterate their product or business to incorporate it. Many companies spend significant amounts of time in the hospital, shadowing end users and understanding their day-to-day workflow. Companies receive feedback on their business model, value proposition, and product market fit, and are offered a variety of perspectives from across our mentor network. They also have access to our technical team to receive expert advice on technical infrastructure and integration with other IT systems.
In addition to mentoring and collaboration with Cedars-Sinai, companies are also able to participate in various other lectures and workshops, primarily focused on topics relating to healthcare or entrepreneurship. We bring in speakers from a variety of backgrounds to share their expertise. We also hold weekly evening meetings where all companies in a class are able to share their successes and challenges, and support each other in setting and achieving ambitious goals.
At the end of the program, we host a Demo Day where all participant companies can present their work to an invited group of investors, potential customers, mentors and press.
We have had nearly 40 companies participate in the program to-date, creating a strong community of healthcare entrepreneurs, all at various stages in their company development.