Louisville Healthcare CEO Council
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Location |
Louisville, KY |
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|---|---|---|
|
Build to Scale Program |
Venture Challenge |
|
|
Project Name |
Geras Startup Lab |
|
|
Award Amount |
Federal Share |
Local Match |
|
$750,000 |
$1.3 million |
The Geras Startup Lab will be a new breed of accelerator designed to scale startups focused on healthcare and aging innovation and strengthen the region's economic competitiveness. Geras Startup Lab has three main goals: (1) improve healthcare product development by increasing insights into corporate challenges for entrepreneurs, boosting the next generation of industry-leading companies; (2) accelerate company and job growth by providing healthcare entrepreneurs access to paid pilots; and (3) increase corporate customer adoption of innovation by providing scientific evaluations of the piloted interventions, leading to increased economic opportunities. Each year, the Geras Startup Lab will select, support, and pilot three high-growth aging innovation startups focused on improving the health outcomes of vulnerable populations. This is possible because the 12 LHCC member companies backing Geras Startup Lab span the entire continuum of care, generate over $100 billion in annual revenue, and have committed to support Geras Startup Lab and the paid pilots. We will attract the top aging innovators globally utilizing the unmatched aging-innovation founder network cultivated by LHCC partner organization Aging2.0. Finally, the University of Louisville's world-class evaluation scientists will perform the independent scientific evaluations of our piloted interventions. By expanding the evidence base for corporate and venture investment into solutions that address the healthcare system's most complex challenges, Geras Startup Lab will accelerate startup growth in the seven-county region in North Central Kentucky.