Sprint (NYSE: S) is upping its mobile health game in a new partnership with Techstars. The mobile service provider and its startup accelerator partner will fund and mentor 10 health technology ventures next spring as they launch the Sprint Mobile Health Accelerator.
Based in Sprint’s hometown of Kansas City, the accelerator will provide selected companies with three months of mentorship, work space, technical support, hosting services and testing labs. Companies will receive $20,000 in exchange for 6 percent equity given to Techstars. They will also have the option of accepting a $100,000 convertible debt note from Sprint, which would take an undisclosed percentage of equity as well.
Its first class will kick off in March 2014. On its website, the accelerator gives some examples of what kind of technologies it’s looking for: wearable technology, sensor-driven devices and networks, socially enabled products focused on achieving personal goals, health tools that interact with mobile cameras, mobile apps that can diagnose and big data tools.
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Sprint’s interest in digital health isn’t surprising. The company hired a chief healthcare executive in 2011 and already provides remote monitoring tools and secure mobile networks for healthcare. Meanwhile, competitors Verizon and AT&T have been making moves of their own into the remote monitoring space as the market for mobile solutions soars.
Sprint says it will not retain any intellectual property developed by participating companies, nor will it have any obligation to or restrictions from the technologies developed.
“Sprint has been expanding its work with startups and other ventures that are developing intriguing innovations. The Sprint Accelerator will act as a catalyst for growth in this market,” said Kevin McGinnis, vice president of development at Sprint, in a statement.
Mentors for the program include Bill Crounse, senior director of worldwide health at Microsoft; game designer Jane McGonigal of SuperBetter Labs; and Brad Feld, managing director at Foundry Group.
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Applications are open now through Dec. 6. Finalists will be notified in early January 2014.
[Image credit: Flickr user littledebbie11]
