GE Healthcare, the $18 billion healthcare technology division of GE, on Friday announced the launch of the company’s first healthcare accelerator—five.eight—aimed at improving healthcare outcomes for the world’s developing economies. The accelerator would target global health start-ups 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.
Portfolio companies from four social impact investors—Acumen, Aavishkaar-Intellecap Group, Unitus Seed Fund and Villgro—will be among the initial applicants for the first accelerator program. Through the program, GE Healthcare and each start-up will focus on commercially scaling healthcare innovations for emerging economies, with the potential for GE Healthcare distribution of the start-up product, or integration of the service into GE Healthcare’s Affordable Care Portfolio.
In addition, potential funding of up to $5M/per start-up will be evaluated on a case-by-case basis as the collaboration between GE Healthcare and each start-up evolves.
“Collaborating with investors allows us to work with some extraordinary entrepreneurs that have promising technologies to extend our portfolio of affordable solutions,” said Terri Bresenham, president and CEO of GE Healthcare’s Sustainable Healthcare Solutions, which develops the company’s affordable care portfolio of high-value, low-cost technologies and healthcare delivery solutions for emerging markets.
The first company that signed up to join five.eight is Tricog, a Bengaluru-based start-up, focused on improving survival rates of heart attacks in India by decreasing the average time between symptoms and treatment. Using cloud-connected ECG devices in medical centers, Tricog helps doctors diagnose a patient within minutes of their arrival at a clinic, improving access to quick, accurate and affordable diagnosis, which can lead to significant mortality reduction. As the first start-up in five.eight, GE Healthcare and Tricog will collaborate on scaling Tricog’s solution to more markets globally.