CareFirst BlueCross BlueShield's corporate investment and innovation organization, Healthworx, has partnered with the Washington, D.C.-based Halcyon incubator program to provide funding and support for healthcare entrepreneurs.
Through the partnership, Healthworx will allot up to $200,000 to support innovative healthcare ventures in the incubator. Additionally, a Healthworx team member will join the Halcyon selection committee, tasked with ensuring that at least one slot in each of the next four program cohorts will go to a healthcare entrepreneur or startup developing solutions to improve outcomes and reduce the cost of care.
"This investment aligns with our strategy of supporting innovative entrepreneurs and startup companies that are committed to finding ways to disrupt and transform our healthcare system," Ricardo Johnson, senior director of Healthworx, said in a release. "In Halcyon, we believe we have a partner that will foster the development these ventures will need to be impactful and help CareFirst transform healthcare in the region."
Two cohorts are chosen to join Halcyon each year. The program spans 18 months, during which each venture receives work space, a stipend, five months of free residency and expert resources such as legal and technical support and mentorship.
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