Sandbox Industries, a US-based venture capital firm that manages the medical group BlueCross BlueShield Association’s corporate venture fund, has started an incubator for healthcare companies.
Healthbox will run a competition at www.healthboxaccelerator.com to find 10 entrepreneurial teams from around the US to participate in a three-month programme and receive $50,000 in seed capital.
The launch comes a year after Sandbox started the Excelerate Labs programme, which has its second competition starting next month.
Nina Nashif, vice-president of Sandbox and who founded Healthbox, said: "Given the dynamics of the industry, building a healthcare technology startup poses a lot of challenges.
"The market needs a platform that provides critical support for early-stage healthcare companies that are not typically ready for venture capital."
Dan Phillips, director of the program, added: "We are looking for entrepreneurs who share our passion for finding the next big idea in healthcare.