GE Healthcare to fund up to USD 50 million in start-up accelerator programme

General Electric Co.’ USD 18 billion healthcare technology division, GE Healthcare, will provide funding of up to USD 50 million for global startups aimed at improving affordable healthcare in emerging markets under its new accelerator five.eight programme.
To commercially scale up the innovations of startups the company would potentially invest up to USD 5 million per startup. The funding will be evaluated on a case-by-case basis for every start-up.
More than 5.8 billion people in the world lack access to quality, affordable health care, thus the name five.eight programme, the company said in the statement.
“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 maximize impact and outcomes for populations with the greatest need,” said John Flannery, President and Chief Executive Officer of GE Healthcare.
Acumen Funds, Aavishkaar-Intellecap Group, Unitus Seed Fund and Villgro Innovations Foundation are among the initial applicants for the first accelerator programme.
Tricog would be the first company to sign onto the program, said the company. The Bengaluru-based start-up focuses on improving survival rates of heart attack sufferers in India by lowering the average time taken between symptoms and treatment.
GE is currently targeting 10 startups that have already received Series A funding in the initial programme.
The five.eight program is part of GE’s one year old Sustainable Healthcare Solutions (SHS) arm operated at Whitefield in Bengaluru.

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