The Downtown Council (DTC), the Economic Development Corporation of Kansas City, Missouri, (EDCKC) and Nueterra Capital announce the formation of Kansas City’s newest industry vertical accelerator – the LaunchKC Health Accelerator powered by Nueterra Capital – designed for early-stage businesses that are working to disrupt the current healthcare system.
With national healthcare spending projected to grow to $3.6 trillion in 2019, up 4 percent from 2018, healthcare is an urgent priority for Americans. To keep up with the changing world, the healthcare industry needs to change the way healthcare is delivered and the way it’s consumed. Additional opportunity lies in payment reform, increasing transparency in pricing, as well as capitalizing on data and analytics. The LaunchKC Health Accelerator powered by Nueterra Capital aims to foster new ideas and support companies that are working on transformative solutions in each of these areas.
“We are delighted to announce this new accelerator,” said Drew Solomon of LaunchKC, a partnership between the DTC and EDCKC. “This continues the evolution of the LaunchKC grants competition into specific industry verticals, including the nbkc bank Fountain City Fintech accelerator and the Black & Veatch IgniteX Cleantech Accelerator.
“We’re also very excited to welcome Nueterra Capital as the investment sponsor. Nueterra has been on the front lines of reforming our healthcare system and we are looking forward to their leadership and investment experience across the spectrum of healthcare and medical services,” Solomon said.
“We all agree that the current healthcare system is not sustainable and is in need of disruption,” said Jeremy Tasset, Nueterra Capital CEO. “With the creation of the LaunchKC Health Accelerator powered by Nueterra Capital, we’re looking for companies with fresh ideas on how to make healthcare more accessible, with more predictable outcomes and transparent costs.
“I am hoping we see service and technology ideas that give rise to improving care and lowering costs that can be readily integrated into existing clinical workflows, and some that are truly disruptive, Tasset said.”
The new accelerator will start taking applications today (June 27, 2019) and will welcome its first cohort later this fall.
In addition to a minimum $50,000 equity investment from Nueterra Capital, companies accepted into the program will receive $10,000 in software development services from Full Scale, a LaunchKC partner; $5,000 in healthcare and business legal advice from Husch Blackwell, a sponsor of LaunchKC in each of its first five years; and with additional services like accounting, marketing and business mentoring from LaunchKC partners.
Solomon said each company will have the opportunity to be featured on Full Scale’s “Startup Hustle” podcast, one of the top 100 business podcasts on Apple. LaunchKC will continue to add other professional services throughout the application and judging phases.
“LaunchKC has been a catalyst for commercializing technology in Kansas City for five years. Husch Blackwell has been supportive of this initiative from its inception,” said Jeff Simon, Managing Partner at Husch Blackwell. “With the expansion of the program, the firm is proud to be their legal sponsor and partner to provide services to the future cohorts.”
In addition, LaunchKC announced today that local tech and healthcare entrepreneur, Don Peterson, will lead the new health accelerator as Entrepreneur in Residence.
“Don adds a wealth of experience and a track record of disrupting the healthcare industry with his most recent venture, Infusion Express,” Solomon said.
“I’m excited and honored to be a part of this new program. I love the fact that we’re integrating an outstanding venture fund into it right from its beginning,” Peterson said. “Nueterra Capital has an exceptional pedigree and a tremendous track record of investing in companies determined on making a positive difference in the industry.”
For information about LaunchKC, visit www.LaunchKC.org
For more information about applying to the LaunchKC Health Accelerator powered by Nueterra Capital, visit launchkc.org or call Drew Solomon 816-691-2135.
About Downtown Council
The DTC is a private, nonprofit, 501c6 membership organization that represents Kansas City’s best businesses, property owners, nonprofit organizations and stakeholders who are invested in the success of Downtown Kansas City, Missouri. To learn more, visit www.downtownkc.org.
The EDCKC is a 501c4 agency that works to retain and grow its resident businesses, attract high opportunity companies to locate in the city, and attract and retain a skilled and diverse workforce and to ensure a vibrant Kansas City, Missouri, and growing, self-sustaining economy. To learn more, visit www.edckc.com.
About Nueterra Capital
Nueterra Capital is a healthcare-focused venture capital firm that invests in companies on the leading edge of healthcare reform. Nueterra Capital invests in healthcare providers, services, and technology companies whose business model reshapes the healthcare industry through advanced payment methods, innovative risk transfer models, data analysis, and advocating patient consumerism. Nueterra Capital has offices in Leawood, KS and Nashville, TN. To learn more, visit www.nueterra.com.
LaunchKC is evolving from a proven grants competition into a tech accelerator platform that will continue to leverage grants, as well as create new opportunities for investors, entrepreneurs, workers and the tech ecosystem of Kansas City. The accelerator platform is designed to attract scalable companies to the city in order to create more jobs and opportunities while growing the local economy. To learn more, visit www.launchkc.org.
LaunchKC is funded by the Missouri Technology Corporation, the City of Kansas City, Missouri, and local corporate and philanthropic partners, including The Cordish Companies, JE Dunn Construction, the EDCKC, Husch Blackwell, KCP&L, the Ewing Marion Kauffman Foundation, the William T. Kemper Foundation, Missouri Department of Economic Development and Port KC.