Aiming to close a critical gap in the healthcare innovation pipeline, Detroit-based Henry Ford Health and Michigan State University Health Sciences have launched a new Innovation Hub designed to help early-stage startups refine technologies with direct clinical input — well before they’re ready for traditional pilots or trials.
The Innovation Hub, backed by a $10 million venture fund, brings together clinical expertise, entrepreneurial guidance and investment support under one roof — a model its leaders say addresses a key shortfall in the health innovation pipeline.
“There is a real gap for seed-stage companies that have promising technologies and products to find their way to get clinical input into that at a very early stage,” Lisa Prasad, vice president and chief innovation officer at Henry Ford Health, told Becker’s. “We are providing that clinical input earlier and helping to shape and develop [innovations] — to say, ‘Yes, this is actually something that there is a market for,’ or, ‘No, you’re on the wrong track, pivot this way.'”
Unlike most pilots and clinical trials that require companies to be further along in development, the Innovation Hub focuses on shaping startups from the outset. Henry Ford’s role is to help founders align their technology with real problems health systems face — before they’ve built out their product or secured large rounds of funding.
“One of the biggest things we see for early-stage companies is they’re solving a problem that we do not have,” Ms. Prasad said. “While the technology and engineering might be doing what it’s supposed to do, it’s not solving a problem in the provider environment. We help companies pivot their ideas into something that really fits our workflows — and can scale.”
The initiative builds on a longstanding relationship between the two Michigan-based institutions.
“Henry Ford Health and Michigan State University have a 30-year collaboration agreement. We are in year five of that,” Ms. Prasad said. “We partner with them in a number of ways because they are our academic affiliate.”
The $10 million fund that will back companies emerging from the Innovation Hub is designed with flexibility in mind. Focus areas include digital health, AI, diagnostic devices and care workflow solutions.
“We didn’t want a narrow investment thesis,” Ms. Prasad said. “There are so many challenges that health systems like ours face, and we want to see the range of technologies that come in the door.”
Unlike traditional accelerators, the Innovation Hub aims to serve as a primary commercialization vehicle for healthcare startups in Southeast Michigan. While there are other programs across the country, Henry Ford sees this as a regional anchor.
“Our goal is to be the premier healthcare accelerator in Southeast Michigan and in the state of Michigan,” Ms. Prasad said. “We’re the only health system in this game in this region. Companies that need a pilot, a clinical trial, or clinical input — we want to be that partner.”
Success will be measured not just by venture returns but by the broader impact on the region.
“How many jobs have we created? How many companies have we attracted? How many skilled workers have we brought to the region?” Ms. Prasad said. “We do have multiple ways in which we will measure our success.”
The Innovation Hub’s development is being rolled out in phases. The first phase — aligning Henry Ford Innovations with MSU’s Spartan Innovations and Red Cedar Ventures — is already complete. Several startups have already gone through the accelerator and are now entering pilot programs within the health system.
The second phase, now underway, involves the legal and operational work required to establish the venture fund itself. Ms. Prasad said the third and final phase, the formal investment launch, is expected to begin in January 2026.
“The intake form is already on our website, so companies can apply now,” she said. “We expect actual investment decisions and checks to begin going out in January.”
Ms. Prasad said the team welcomes collaboration from other health systems and industry players interested in shaping the future of healthcare.
“At the end of the day, the problems that we are solving at Henry Ford are problems that all health systems have,” she said. “We don’t intend to be secretive. We intend to be open and transparent. So come and see what we’re doing.”
