Health IT

Calling all health (and other) IT startups: LaunchHouse to invest $25K in 10 teams for 12-week program

Entrepreneurs who think they have promising ideas for information technology companies should hit up Cleveland-area incubator LaunchHouse. The incubator plans to invest $25,000 each in 10 IT and web-based startups as part of a 12-week entrepreneurial boot-camp program that it’s dubbed “LaunchHouse Accelerator.” The program is open to teams from across the country that consist […]

Entrepreneurs who think they have promising ideas for information technology companies should hit up Cleveland-area incubator LaunchHouse.

The incubator plans to invest $25,000 each in 10 IT and web-based startups as part of a 12-week entrepreneurial boot-camp program that it’s dubbed “LaunchHouse Accelerator.”

The program is open to teams from across the country that consist of at least two co-founders, according to a statement from LaunchHouse.

Accelerator programs typically aren’t all that interested in medical technology startups because those companies require so much cash to get off the ground that the typically small investments the programs provide don’t make much of a difference.

Plus, those types of companies typically take years to develop. (Medical device startup LifeServe Innovations has received investment from LaunchHouse, however.)

Health IT firms can develop just as quickly and cheaply as other IT firms, however, so they’ve been able to curry favor in several incubator/accelerator programs throughout the country.

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LaunchHouse will provide the 10 startups with low-cost housing and “a playful work environment” in which they can plan to stay and grow their businesses, according to the statement.

The program starts on Sept. 3 and the deadline to apply is July 1.

Funding for the accelerator program comes from Ohio’s state-backed Third Frontier technology support program ($200,000) and Cleveland-based Clarion Direct Investment ($50,000).

[Photo from flickr user Erik Charlton]