In 2020, less than 3 percent of venture capital funding went to companies with Black or Latino founders, according to a May 17 press release.
Participation in the program will include a $150,000 investment and nine months of tailored programming delivered in conjunction with advisory groups like the Boston-based Capital Network and Chicago-based Healthbox to help accelerate growth.
The program launch also includes two pitching events to increase visibility of participating startups with potential customers and investors. The first event is May 19 and will offer cohort companies an opportunity for industry exposure and networking. Advisers will assist startups with raising awareness of their offerings and creating long-term promotion strategies.
“This is not a philanthropic act — it’s a good investment and business decision,” President and CEO Andrew Dreyfus said. “By investing in these diverse start-ups, we’re able to help support the growth of businesses that are centering equity in their work and making advances in technology and services that will lead to improved health outcomes.”
Businesses selected for the program:
Bloomer Tech (Cambridge, Mass.)
The company tailors cardiovascular healthcare to women using advanced fabrics technology and machine learning.
MedHaul (Memphis, Tenn.)
A cloud-based management platform for nonemergency patient transportation.
Quality Interactions (Boston)
A company that focuses on cultural competency solutions to improve health outcomes in patients.
SoHookd (Washington, D.C.)
A digital wellness platform offering wellness-centric rewards, events, and challenges to health plans and employers.
TQIntelligence (Atlanta)
A company that utilizes validated diagnostic tools, AI and voice recognition technology to enable therapists to make more accurate diagnoses faster.
