Funding and Resources for Startups Developing Solutions for Efficient Healthcare: "ADAPT" Program Launched by UCSF Rosenman Institute for Innovation Spurred by COVID-19
Selected Startups Will Each Receive $150,000 Funding and Access to Expertise from Amazon Web Services, Echo Health Ventures, Express Scripts, and UnitedHealth Group
SAN FRANCISCO, May 28, 2020 /PRNewswire/ -- The UCSF Rosenman Institute announced today the launch of UCSF Rosenman ADAPT, a competitive program to accelerate the development of health technology solutions (diagnostics, digital health, medical devices, or health services) to increase the efficiency of healthcare in the light of needs highlighted by the COVID-19 pandemic. Applications will be taken through July 6th, 2020.
Selected companies will each receive $150,000 non-dilutive funding and support from the program's sponsors, Echo Health Ventures, Express Scripts, and UnitedHealth Group. During the three-month program, companies will work closely with the sponsors to identify needs and shortest paths to implementation for their solutions.
To be eligible, companies must be incorporated, operational, and possess technologies with the potential to scale nationwide. Technologies of interest include (but are not limited to) solutions that can tackle remote monitoring, triage tools, patient peer support, elderly care, and burden relief for healthcare professionals.
"The COVID-19 pandemic underscores the importance of solutions that better prevent, detect, and intercept disease," said Dr. Deneen Vojta, Executive Vice President, Global Research and Development at UnitedHealth Group. "The innovations emerging from ADAPT could potentially accelerate adoption of promising approaches to delivering the best possible care."
"We are excited to work with entrepreneurs who see this opportunity to improve the status quo and develop solutions to help patients during this crisis and in future situations," said Lawrence Leisure, Co-Founder and Managing Partner at Chicago Pacific Founders and Chairman of the Board for the UCSF Rosenman Institute.
"Our greatest advances in medicine and health care have come from brilliant innovators eager to solve the greatest threats to human health," said Glen Stettin, M.D., Chief Innovation Officer, Express Scripts. "Supporting the ADAPT program at UCSF aligns directly with our mission to champion solutions for health care's greatest challenges. We are eager to jumpstart innovation in response to the pandemic, and support advances in medicine and health care technology that benefit patients and protect people around the world."
"The unprecedented challenges of the COVID era demand new approaches to innovation driven by quick iteration and adaptation. Echo and our regional health plan owners are looking for solutions that can support consumers' and providers' needs, especially increasing access, advancing remote and virtual care and tracking outcomes and performance." said Rob Coppedge, CEO of Echo Health Ventures.
"We're excited to launch the ADAPT program, as this is a great way for different stakeholders in the healthcare ecosystem to join forces and address a crisis through innovation," said UCSF Rosenman Institute Director Christine Winoto. "By working directly with the payors early in the product development process, we can increase efficiency and deploy much needed solutions faster. This approach of providing immediate funding and access to insights from experienced players in the healthcare game will hopefully lead to innovation that solves problems that matter."
About the UCSF Rosenman Institute
The UCSF Rosenman Institute, a QB3 health technology initiative at the University of California, San Francisco, is a community of investors, clinicians, and technology entrepreneurs who create solutions for unmet clinical needs. Its mission is to drive innovation and education and improve patient care by helping entrepreneurs from concept to commercialization. No UC affiliation is required to obtain support from the UCSF Rosenman Institute. Visit http://rosenmaninstitute.org/.
About Echo Health Ventures
Echo Health Ventures invests to build and grow tomorrow's great health care companies. They invest across every stage and work with our portfolio companies to challenge and transform the health care system. As a strategic collaboration of Cambia Health Solutions and Mosaic Health Solutions, they work closely to catalyze the development of their portfolio companies and accelerate innovations to scale nationally. Echo Health Ventures operates nationwide with offices in Durham, N.C., Portland, Ore., Seattle and Boston. Visit https://www.echohealthventures.com/.
About Express Scripts
Express Scripts is a health care company aiming to deliver a better health care system with greater choice, predictability, affordability and improved outcomes. From pharmacy and medical benefits management, to specialty pharmacy care and everything in between, they uncover opportunities to make health care better. Express Scripts, a Cigna company, unlocks new value in pharmacy, medical and beyond to further total health for all. For more information, visit www.express-scripts.com.
About UnitedHealth Group
UnitedHealth Group is a diversified health care company dedicated to helping people live healthier lives and helping to make the health system work better for everyone. UnitedHealth Group offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. For more information, visit UnitedHealth Group at www.unitedhealthgroup.com.
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SOURCE UCSF Rosenman Institute