Johns Hopkins, CareFirst partner with venture capital for ‘AI accelerator’ program
Venture capital firm Techstars is partnering with Johns Hopkins University and CareFirst BlueCross BlueShield to launch a program designed to support healthcare artificial intelligence (AI) tools in the early stages of development, providing startups with options for technical, financial, and clinical research support.
The program is a 13-week-long, in-person event promoted as an “accelerator,” which an announcement said will result in the trio of investors supporting up to 12 companies. The first of these events is scheduled for March 2025 in Baltimore, with plans to do two accelerators each year.
AI startups in all aspects of healthcare—medtech, biotech, health IT, etc.—are invited to apply. The events will also serve as educational classes for participants, offering a chance to network and improve their products, even if no one makes a financial investment.
“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,” Doba Parushev, who leads innovation and investment at CareFirst, said in an announcement. “We are excited to work with early stage entrepreneurs building practical solutions in the space, and eager to lend them CareFirst’s learnings from supporting our 3.5 million-plus members as they seek to deliver true value to the market.”
The 13-week course will be led by Adam Phillips, the former managing director of Techstars Equitech. Techstars has invested in more than 600 early stage healthcare companies and is promising to dish out initial investments of up to $120,000 for selected companies that complete the accelerator program.
Those wishing to participate have until Nov. 20 to apply.
Chad is an award-winning writer and editor with over 15 years of experience working in media. He has a decade-long professional background in healthcare, working as a writer and in public relations.