Baltimore-based LifeBridge Health and CareFirst BlueCross BlueShield are seeking to add more healthcare startups to their joint health tech incubator 1501 Health.
LifeBridge and Healthworx, CareFirst's innovation and investment arm, launched 1501 Health last spring. The incubator's first cohort is on track to graduate five health tech companies from across the U.S., according to LifeBridge's Oct. 18 news release.
The incubator will accept applications for its second yearlong cohort from Oct. 26 through Nov. 16. Under the program, 1501 Health's startups will receive up to $100,000 as well as access to mentorship and support from LifeBridge and CareFirst experts, who will work with the startups to strengthen their business models and sales strategies. The startups will also get support with product development and testing.
More than 120 healthcare startups applied to 1501's first cohort earlier this year. The incubator plans to accept another five to seven startups for its second cohort early next year.