UnitedHealthcare has announced the second class of its health care startup accelerator, which it runs with Techstars. The accelerator began on Monday, and runs into December.
The UnitedHealthcare Accelerator Powered by Techstars is hosting 10 companies, each of which will move to Minnesota for the next three months. Member companies will have access to mentorship from UnitedHealth, Techstars, and other mentors pulled from the local tech and health care communities.
While none of the companies are Minnesota-based right now, Techstars accelerators often prompt companies to create permanent ties with the Twin Cities. For example, four members of the Techstars Farm to Fork Accelerator announced last year that they were relocating to Minnesota. And Dallas-based Mountain Health Technologies, which was a member of last year's UnitedHealthcare accelerator, received an investment from Minneapolis-based Matchstick Ventures.
Member companies are largely focused on digital health solutions like apps, which is similar to last year's accelerator. But the problems they tackle range from helping users quit smoking to tracking the symptoms of irritable bowel syndrome.
And, like just about everything else, Covid-19 looms large. However, the people who run the accelerator view the pandemic as an opportunity: The new problems posed by the virus require creative solutions.
"The year 2020 has upended many things previously seen as unshakeable. In the midst of hardship, world events have catalyzed change across the health care ecosystem in dramatic fashion. These shifts have created incredible opportunities for entrepreneurs to reimagine the future of health," said Matt Miller, the managing director of the accelerator, in a statement.
UnitedHealthcare is the health insurance arm of UnitedHealth Group Inc. While UnitedHealth (NYSE: UNH) usually interacts with more-advanced startups through Optum, its innovation focused arm, the accelerator is an opportunity for UnitedHealth to work with earlier-stage companies.
"Through our accelerator, we have the privilege of partnering with entrepreneurs who share a passion for addressing some of health care’s most challenging problems," Joel Nelson, UnitedHealthcare's vice president of innovation, said in a statement. "These types of partnerships represent a critical tool in our innovation portfolio where the need for innovation has only accelerated as Covid-19 has changed the way we engage with our health."
UnitedHealthcare and Techstars have currently agreed to host three accelerator classes through 2021, though UnitedHealth expressed interest last year in potentially extending the agreement.
The startups will present their progress in a demo day on Dec. 3. The participating startups are:
- Dieta. A Los Angeles-based company that makes an app for managing digestive health issues like irritable bowel syndrome.
- GoodParents Inc. A San Francisco-based company that makes KiddoWear, a smart device that tracks children's vital information like heart rate and temperature.
- Immuto. A Boston-based company that makes secure data-management software for health care and life sciences companies.
- Kintsugi. A Berkeley, Calif.-based company that makes an app that measures the severity of depression and anxiety based on a user's voice.
- Koda. A Houston-based company that automates end-of-life conversations between doctors and patients.
- Options MD. A Los Angeles-based company that helps users select which anti-depressant medication is best for them based on side-effects.
- Samaritan. A Seattle-based company that makes an app allowing users to donate to people without homes from a digital wallet while learning more about the people they're helping.
- Spora. A San Francisco-based company that provides telehealth primary care for people of color.
- Vincere. An Allston, Mass.-based company that creates an app that helps users quit smoking with incentives.
- Vocalytics. A Costa Mesa, Calif.-based company that uses AI to analyze doctor/patient conversations for quality.
