University of Chicago launches incubator for AI healthcare startups

University of Chicago has debuted an accelerator to develop and fund artificial intelligence and data science startups, including those focused on healthcare.

The Transform project will pick 20 startups to receive about $250,000 in total investment each, with $25,000 in funding, credits for Amazon Web Services and Google for Startups, workspace, and access to industry, technical and student advisers. The program will be housed at the Deep Tech Ventures initiative at the Polsky Center for Entrepreneurship and Innovation.

"We are confident that data science and AI startups can accelerate their ability to bring innovations to market with venture capital connections and funding opportunities from the Polsky Center," said Dan Sachs, executive director of Polsky Deep Tech Ventures, in a Jan. 20 university news release. "And our partners at the Data Science Institute at the university can provide the deep, focused, technical guidance and access to industry-specific mentors that we know are invaluable resources to today's entrepreneurs."

Besides healthcare, the project will develop startups employing AI and data science for such uses as cybersecurity, fintech and blockchain.

Deep Tech Ventures also plans to raise $25 million to support startups with seed money and series A funding rounds.

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