GE Healthcare has launched new five.eight healthcare accelerator program to provide financial assistance to global healthcare startups.
Under the program, the company plans to provide up to $50m to the healthcare startups to improve their healthcare quality and accessibility, as well as develop low-resource setting ranging from education and training to disruptive, low-cost technologies and digital applications.
Acumen, Aavishkaar-Intellecap Group, Unitus Seed Fund and Villgro social impact investors are the initial applicants for the first accelerator program.
Under the program, GE Healthcare and each startup will focus on commercially scaling healthcare innovations for emerging economies.
GE Healthcare will distribute the startup product, as well as integrates the service into GE Healthcare’s affordable care portfolio.
The company will provide funding up to $5m per startup based on a case-by-case basis.
GE Healthcare intends to help around 10 startups in its initial program by sourcing applicants from four social impact investors.
Bangalore-based startup Tricog is the first company to join the program, which will focus on improving survival rates of heart attacks in India by decreasing the average time between symptoms and treatment,
Through using cloud-connected ECG devices in medical centers, Tricog will enable doctors diagnose a patient within minutes of their arrival at a clinic.
As part of the program, the startups will have access to innovation network programming and resources, as well as connectivity to other GE global innovation centers in Helsinki, Cardiff, Istanbul, Calgary, Johannesburg and Dubai.
GE Healthcare president and CEO John Flannery said: “Globally, it’s estimated that more than 5.8 billion people in the world lack access to quality, affordable healthcare.
“We’ve had a continuous commitment to improving healthcare for those who need it most, but we know we cannot do it alone.”