Healthy Investment: GE Pouring Millions into Startups

According to a recent report from our sister site mHealthWatch, GE Healthcare — the $18 billion healthcare technology division of GE — has launched the company’s first healthcare accelerator, five.eight, aimed at improving healthcare outcomes for the world’s developing economies.

“The accelerator 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,” the announcement reads.

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 program. Through the program, 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 $5M/per startup will be evaluated on a case-by-case basis as the collaboration between GE Healthcare and each startup evolves, the announcement notes.

“Globally, it’s estimated that more than 5.8 billion people in the world lack access to quality, affordable healthcare,” said John Flannery, President and CEO of GE Healthcare. “We’ve had a continuous commitment to improving healthcare for those who need it most, but we know we cannot do it alone. 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.”