The Journey Venture Studio is seeking aspiring health care entrepreneurs for its second founder-in-residence cohort.
The studio — a nonprofit that supports founders launching health care-related companies — opened applications Oct. 17 for its fall recruiting cycle.
As part of the cohort, participants will receive hands-on support, investment, mentorship, and programming from The Journey Venture Studio, allowing them to develop, prototype, and scale their startups.
At the end of the eight-month residence program, founders will pitch their startups in front of The Journey Venture Studio's board, sponsors and partners for a chance to secure additional funding for their companies.
For its second cohort, the studio is looking for entrepreneurs interested in launching health care-related businesses in the following focus areas:
- Mental health
- Sports medicine
- Women’s health
- Aging & elder care
- Chronic disease management
- Packaging & supply chain
To be eligible, entrepreneurs must be prepared to move to Phoenix for the eight-month program. Participants will receive $110,000 in funding for relocation and prototyping and testing venture concepts.
The Journey Venture Studio’s programming and curriculum is designed to address barriers preventing women and minority founders from excelling in the venture world, Mark Moeremans, managing director of the Journey Venture Studio, said in a statement.
“We endeavor to show the market that by betting on underrepresented founders you can build game-changing companies that address disparities in health outcomes all while delivering outsized returns,” Moeremans said.
Moeremans, along with Justin Bayless, founded the Journey Venture Studio to close racial and gender opportunity gaps by providing support to diverse founders wanting to pursue entrepreneurship.
Bayless, who is president of the studio, is the former CEO of Bayless Integrated Healthcare, a family business that he helped scale from six to 600 employees prior to selling it to a Fortune 25 health care company in 2020.
“Being a diverse healthcare entrepreneur myself, I know first-hand the struggles these entrepreneurs face when it comes to funding and launching healthcare companies in the market,” Bayless said in a statement. “This is why Moeremans and I created The Journey; to identify, inspire, educate, and empower diverse entrepreneurs through our tailored eight-month venture program to increase their odds of success and give them a real chance to make a difference.”
The Journey Venture Studio occupies a building at 3620 N. Third St., which is also the home of Ten Figures, a consulting and venture capital firm founded by Bayless.
The nonprofit launched its inaugural founder-in-residence cohort in September with three entrepreneurs: Imen Maaroufi Clark, Terrance Range and Ekene Nkem-Mmekam.
Applications for the studio’s second cohort are available at: https://thejourneyventures.com/founder-in-residence-program/
