GE HEALTHCARE TEAMS UP WITH SOCIAL IMPACT INVESTORS TO LAUNCH ACCELERATOR FOR GLOBAL HEALTH STARTUPS


FAQs

five.eight is highly focused on accelerating commercial scalability of global health solutions, with the potential for GE Healthcare distribution of the startup product, or integration of the service into GE Healthcare’s Affordable Care Portfolio. Through the program, the startups will have access to healthcare market-related information, including but not limited to customer market information. This could include IP landscaping and market opportunity assessments, technological and clinical mentors from GE Healthcare and its customers/partners, and support on marketing and business development initiatives. Access to funding and other strategic investments, valued up to $5M per startup, on the part of GE Healthcare will be made on a case-by-case basis.

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. We’re looking to partner with global health startups who are fairly mature in their evolution and in a later stage of innovation acceleration. Startup applications should be well evolved from a product/technology readiness perspective and have a clinically proven solution with clear validation from the clinical community.

The design of the accelerator is meant to build an integrated portfolio of offerings serving the needs for affordable and accessible care in emerging markets. This would mean the companies selected will aim to augment the GE portfolio of offerings.

Applicants will be sourced from the four social impact investors, but not limited to these portfolio companies. The Accelerator is also open to partnerships with global health startups directly, or other players within the global health ecosystem, including Academia, NGOs, or other healthcare providers. Interested applicants are encouraged to contact five.eight; applicants will be evaluated and accepted on a rolling basis.

Applications will be evaluated based on a market assessment of needs and the solutions ability to meet those market needs and its potential for global commercial scalability.

Applications will be open to all global health startups, regardless of location. We will seek partners from across the world with a clear focus on those committed to creating affordable and accessible solutions. We live in a highly global and virtual world – collaboration between GE Healthcare and each startup will be a combination of digital and in-person meetings.

Yes, funding of up to $5M per startup is in scope, and will be evaluated on a case-by-case basis. The intent will be to create a strategic partnership of mutual value for GE Healthcare and each global health startup.

Interested applicants are encouraged to contact five.eight; applicants will be evaluated and accepted on a rolling basis. The Accelerator is open to all global health startups, regardless of location.

GE has a strong track record of ethical business practices and has several existing partnerships in play with global companies that speak of this fact. We will proactively provide IP landscaping as a service to ensure there is a clear understanding of how a given IP rates against what is available in the market and how it needs to be protected.

When a startup joins five.eight, their existing investors will continue to remain valuable in their portfolio and will continue with their fiduciary, operational, and social objectives.

Any company with GE Healthcare’s investment will be evaluated for alignment with the strategic objectives of GE Healthcare and the Sustainable Healthcare Solutions business.

GE’s Innovation Network

five.eight joins GE’s Innovation Network – a global, connected ecosystem of accelerators, startups, and innovators working on technologies that disrupt and grow markets through digital transformation. The startups joining five.eight will now have access to Innovation Network programming and resources as well as connectivity to other GE global innovation centers in Helsinki, Cardiff, Istanbul, Calgary, Johannesburg, Dubai, and more.

We realize we cannot solve problems all by ourselves. We need partners. Tapping into the startup and innovation ecosystem is one important approach that allows us to see, discover, and potentially work alongside a vital group of problem-solvers and next-generation thinkers. Combine that with our internal activities at GE Healthcare, and we have a mutually beneficial opportunity to seek and explore technologies that disrupt and grow markets through digital transformation.

Along with our nine global research centers and six digital foundries, we have 12 innovation centers globally, including five.eight. In addition, many of our GE businesses lead business-specific centers of excellence, where we train customers on next-generation solutions across our business segments.

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