Tampa General Hospital created a venture capital fund to support early-stage startups and make direct investments in healthcare companies.
Tampa General announced the fund on Nov. 6. Five details:
1. The fund, dubbed TGH InnoVentures, comprises the TGH Innovation Lab, TGH Accelerator and Tampa General. The TGH Innovation Lab will be the onsite program supporting team members and physicians to improve operational efficiencies systemwide. TGH Accelerator will invest in and nurture early-stage healthcare companies.
2. Tampa General will serve as a living-learning laboratory for companies in the accelerator program to engage with team members and physician-scientists. Tampa General will also directly invest in healthcare-related companies through the fund.
3. The hospital will partner with Embarc Collective, a Tampa Bay innovation hub that helps startups grow into scalable businesses. TGH InnoVentures will have space in Embarc's facility. Embarc Collective has 50 early-stage startups that will be able to engage with TGH InnoVentures as a result of the partnership.
4. Tampa General named Rachel Feinman vice president for innovation to launch and manage TGH InnoVentures. She will begin her new role in January 2021; she previously served as executive director of the Florida-Israel Business Accelerator.
5. Tampa General aims to launch TGH InnoVentures during the first quarter of 2021.
"TGH InnoVentures will allow us to develop innovative solutions to improve the quality and access to care right here at Tampa General," said President and CEO John Couris. "At the same time, TGH InnoVentures will provide us a platform to invest both resources and funds into emerging companies and technology that will have the ability to significantly improve the delivery of healthcare within our region, state and even nationally."
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