First-of-its-kind accelerator to focus on health IT solutions that provide the most patient benefits
Washington, DC — Sept. 20, 2017 — The National Health Council (NHC), a patient advocacy umbrella organization, and Boomtown, a startup accelerator that nurtures selected startups through a 12-week mentoring program, have announced a three-year agreement to work in collaboration to select and accelerate approximately 20 early-stage startups that are building patient-centric products and services related to the health care industry.
According to the 2016 StartUp Health Insights Funding Report, patient/consumer experience was the most funded sector in digital health, with more than 160 deals for a total value of more than $2.8 billion that year alone.
“At the NHC, we believe health care should focus on what matters most to people so they can live their best lives possible,” said Marc Boutin, chief executive officer for the National Health Council. “This new partnership with Boomtown allows us to promote that vision by engaging and collaborating with inventive companies on the front line of patient-centered innovation.”
“Lack of patient-centric design in the process of developing new health care products is one of the leading causes of product failures. Putting patients first and understanding their needs will ultimately lead to the most successful products,” said Tom Base, managing director, Healthtech, at Boomtown. “This is why we’re thrilled to partner with NHC, which is widely recognized as the industry thought leader in this area and are actively seeking interested corporate sponsors to join us in this endeavor.”
Teams interested in the first patient-centric cohort can begin the application process on the Boomtown website. The cohort is slated to kick off in February 2018.
“Boomtown’s expansion benefits not only the entrepreneurs — our primary focus — but also organizations like NHC and companies who support teams through investment,” said Boomtown CFO Jason Searfoss. “Beyond returns, companies are finding the best innovation comes from outside of their own organizations, where entrepreneurs are free from any ‘sacred cows’ that may blind industry insiders to revolutionary new solutions,” he added.
About National Health Council
Founded in 1920, the NHC is the only organization that brings together all segments of the health community to provide a united voice for the more than 133 million people with chronic diseases and disabilities and their family caregivers. Made up of more than 100 national health-related organizations and businesses, the NHC's core membership includes the nation’s leading patient advocacy organizations, which control its governance and policy-making process. Other members include professional and membership associations, nonprofit organizations with an interest in health, and representatives from the pharmaceutical, generic drug, health insurance, device, biotechnology, and communications industries. Learn more at: http://www.nationalhealthcouncil.org
Based in Boulder, Colo., Boomtown aims to discover and support promising Healthtech, Internet, mobile, software and Internet of Things (IoT) startups. Boomtown’s goal is not simply to provide the shortest distance between an idea and funding, but instead to support entrepreneurs in building great companies. Currently in its eighth cohort, Boomtown has invested in more than 75 companies since its founding in 2014. Of those, 85 percent are in operation and 88 percent are generating revenue. For more information, visit http://www.boomtownaccelerator.com.