Techstars has made an agreement with the MayoClinic to provide a two week residency program as part of an initiative to equip graduates of its program with more practical experience of working directly with corporate partners, according to a statement on CEO and co-founder David Cohen’s blog. It expects to announce additional partners in the next year beyond healthcare.
The program is called Techstars++. Companies interested in participating in the program would submit an application to Techstars outlining what they wanted to accomplish. A full time Techstars program director will reside on-site and work closely with the startups and the corporation to help maximize the opportunity, according to the statement. There is no charge to Techstars companies to participate.
Of Techstars 322 active companies, about 35 health IT startups have graduated from Techstars’ accelerators, particularly its accelerator with Sprint centered on mobile health and based in Kansas City, Missouri. In addition to healthcare, Techstars has accelerators that focus on robotics, technology, education, athletics, connected devices and finance.
In an interview with Cohen, he explained that Techstars++ isn’t a separate accelerator, it’s an extension of the program. Companies can spend two weeks at the Mayo Clinic exploring business development opportunities and other synergies. A full time Techstars Program Director will reside on-site and work closely with the startups and the corporation to help maximize the opportunity. Cohen envisions Mayo Clinic working with about four accelerator companies per month.
The strength of healthcare accelerators can often be measured by their partnerships, particularly with hospitals. It’s notoriously difficult for healthcare entrepreneurs to get an audience with CIOs and even tougher to get adoption. With more than 115 accelerators around the world, there’s more competition to offer a more meaningful experience to attract applicants. Although Techstars has a mentor pool with a wide range of experience, it sees the two week program as a way to deepen the experience of its accelerator companies.
