Press Esc to close

GE Healthcare to fund startups

September 24, 2016, Bengaluru, DHNS 22:35 IST
GE Healthcare, the $18-billion healthcare technology division of American giant GE, announced $50 million in funding aimed at improving services of healthcare startups in developing countries on Friday.

The company launched its first healthcare accelerator five.eight, aimed at improving healthcare outcomes for the world’s developing economies, and will target global health startups with a vision to improve healthcare quality and accessibility in developing or low-resource settings — from education and training to disruptive, low-cost technologies and digital applications.

Addressing reporters here on Friday, GE Healthcare President and Chief Executive Officer John Flannery said, “Through five.eight, our goal is to fuel the greater global health ecosystem, partnering with social impact investors and global health startups, in order to maximise impact and outcomes for populations with the greatest need,” he added.

Portfolio companies from four social impact investors: Acumen, Aavishkaar-Intellecap Group, Unitus Seed Fund and Villgro, will be among the initial applicants for the first accelerator programme, through which, GE Healthcare and each startup will focus on commercially scaling healthcare innovations for emerging economies, with the potential for GE Healthcare distribution of the startup product, or integration of the service into GE Healthcare’s Affordable Care Portfolio. In addition, potential funding of up to $5 million per startup will be evaluated on a case-by-case basis as the collaboration between GE Healthcare and each startup evolves.

Five.eight aims to welcome at least 10 startups in its initial programme, with applicants sourced from the four social impact investors, but not limited to these portfolio companies.

Meanwhile, the first company signed to join five.eight is Bengaluru-based Tricog, which is focused on improving survival rates of heart attacks in India by decreasing the average time between symptoms and treatment. As the first startup in five.eight, GE Healthcare and Tricog will collaborate on scaling Tricog’s solution globally.

Go to Top

More from this section
Most trending stories
Photo Gallery
Miss World 2017 Manushi Chhillar and actor Rekha pose for a picture...

Miss World 2017 Manushi Chhillar and actor Rekha pose for a picture...

Actor Sunny Leone gives her measurement for her wax statue to be displayed at Madame Tussauds...

Actor Sunny Leone gives her measurement for her wax statue to be displayed at Madame Tussauds...

A woman dries red chillies at a field in a village near Jodhpur on Thursday....

A woman dries red chillies at a field in a village near Jodhpur on Thursday....

Pope Francis holds a cross that reads in Spanish

Pope Francis holds a cross that reads in Spanish "I give you my peace" upon arrival...

A villager displays a mortar shell allegedly fired on a residential area from the Pakistan...

A villager displays a mortar shell allegedly fired on a residential area from the Pakistan...

A contingent of Territorial Army wait during the Republic Day parade rehearsal at Rajpath...

A contingent of Territorial Army wait during the Republic Day parade rehearsal at Rajpath...

'Boyevaya Machine Pekhoty' tanks seen at Vijay Chowk during the Republic Day parade rehearsal...

'Boyevaya Machine Pekhoty' tanks seen at Vijay Chowk during the Republic Day parade rehearsal...

Artists paint an idol of Goddess Saraswati at a workshop in Amritsar on Thursday...

Artists paint an idol of Goddess Saraswati at a workshop in Amritsar on Thursday...

Cranes lift a Boeing 737-800 of Turkey's Pegasus Airlines in Trabzon, Turkey...

Cranes lift a Boeing 737-800 of Turkey's Pegasus Airlines in Trabzon, Turkey...

Tableaux artists rehearse for the upcoming Republic Day parade at Rajpath in New Delhi...

Tableaux artists rehearse for the upcoming Republic Day parade at Rajpath in New Delhi...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.