CHICAGO, June 8, 2011 /PRNewswire/ — Sandbox Industries, a venture capital firm and leading incubator for startup companies, announces Healthbox, one of the first business accelerators in the country to focus exclusively on the healthcare industry. Healthbox builds on the success of Excelerate Labs, the tech accelerator that Sandbox co-founded last year, which Tech Cocktail recently named Top 3 among startup accelerators nationwide.
Healthbox is designed to identify emerging healthcare technology and technology-enabled services startups that address specific industry challenges. Through a competitive application process, ten entrepreneurial teams from around the country will be selected to participate in a three month program. Healthbox will provide each of the ten companies with critical resources that promote rapid development, including:
- Direct access to industry leaders, investors, and established entrepreneurs in both structured and informal settings
- Workshops conducted by experts in disciplines that are relevant to early stage healthcare businesses
- A collaborative workspace that stimulates knowledge sharing and innovation
- $50,000 in seed capital
The program culminates with an Investor Day that gives entrepreneurs an opportunity to pitch to a targeted group of angel and venture investors.
“Given the dynamics of the industry, building a healthcare technology startup poses a lot of challenges,” said Sandbox Vice President Nina Nashif, who founded Healthbox. “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’re looking for entrepreneurs who share our passion for finding the next big idea in healthcare. Our goal is to create a dynamic hub of innovation that offers unrivaled exposure and access to the healthcare market.”
Healthbox is supported by a number of significant players in the healthcare industry, including providers, payers, and other strategically relevant organizations. Sandbox Industries is the exclusive fund manager for BlueCross BlueShield Venture Fund, a corporate venture fund sponsored by the BlueCross BlueShield Association.
For additional information about Healthbox, visit www.healthboxaccelerator.com.
About Sandbox Industries
Chicago-based Sandbox Industries creates and invests in businesses. The company searches for ideas with the potential to change markets, and then leverages its expertise, resources, experience, and contacts to transform them into successful enterprises. A non-traditional blend of venture capital alongside a business incubator, Sandbox represents a new model for business development – one that helps rather than harasses entrepreneurs – and is redefining the way great ideas are generated and transformed into successful companies.
SOURCE Sandbox Industries
Leave a Comment
You must be logged in to post a comment.