Baltimore-based LifeBridge Health is partnering with Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield, to launch a new incubator for startup companies developing healthcare technologies and innovations.
The incubator, dubbed 1501 Health, will provide companies participating in the program up to $100,000 in investment as well as access to mentorship and support from payer and provider experts, according to a Jan. 26 news release emailed to Becker's Hospital Review.
LifeBridge and CareFirst associates will advise each participating startup and work with them on their business plans, product development and testing. The incubator is open to startups geared toward healthcare consumers, payers, providers and other stakeholders.
Originally slated to launch with a physical incubator space in June 2020, 1501 shifted to a virtual go-live due to the COVID-19 pandemic. It plans to operate with a blended virtual and in-person model over time and will have a physical office space in Baltimore once COVID-19 protocols allow.
Applications for the incubator are open Feb. 1-22.