Accelerator: An accelerator takes a set amount of seed equity from a number of young startups in exchange for capital and mentorship. Accelerators will bring a cohort of start-ups in what is typically an on-site program which lasts for three to four months. At the end of the program, companies will ‘graduate’ from the accelerator program, and may present their company in front of potential investors at the respective accelerator’s Demo Day.*
With that information at hand, read on - from the LA Business Journal:
A health tech accelerator has launched at UCLA. Called the TechQuity Accelerator and run by UCLA Health, this program is aimed at life science companies with innovations for communities underserved with health care products and services. Founded in response to health care inequities exposed by the Covid-19 pandemic, the TechQuity Accelerator is a partnership between UCLA Health Biodesign and BioscienceLA, a Culver City nonprofit innovation catalyst for L.A.’s life science industry. The program cost roughly $900,000 to set up, with the principal source of funding coming from a $750,000 grant award from the U.S. Economic Development Administration’s SPRINT Challenge.
...UCLA Health’s TechQuity is aimed at companies that provide products and services for underserved communities. “Our exclusive focus is on health equity,” said Jennifer McCaney, executive director of UCLA Biodesign and assistant director of the UCLA Clinical and Translational Science Institute...
Full story at https://labusinessjournal.com/healthcare/ucla-health-launches-accelerator-program-focused-on-health-equity/.
*https://support.crunchbase.com/hc/en-us/articles/115010624128-Glossary-of-Investor-Types.
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You can hear the text above at the link below:
https://ia801402.us.archive.org/25/items/big-ten/accelerator.mp3
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