2013-03 So You Want to Build a Start-up Accelerator
•
3 likes•970 views
Why not combine the best parts (contributions) of a start-up company with the necessary (working) parts of a legacy company to form something both new and necessary?
Recommended
Recommended
More Related Content
More from imagine.GO
More from imagine.GO (12)
2013-03 So You Want to Build a Start-up Accelerator
- 1. So You Want to Build a Start-up Accelerator? a presentation for the 5th Annual Leadership Summit on Health Plan Innovation Thursday March 14, 4:30 – 5:45 PM
- 2. Agenda Panel: So You Want to Build a Start-up Accelerator? Why not combine the best parts (contributions) of a start-up company with the necessary (working) parts of a legacy company to form something both new and necessary? There has been a lot of movement in the launching of healthcare vertical-specific accelerators that bring together legacy healthcare companies into partnerships with entrepreneurs and health start-ups. The quid pro quo is to create learning and business opportunities for the startups and affect the legacy company with agility and innovation. This panel is designed to inform and discuss a health plan or provider who might be looking at creating their own start-up accelerator. What You will Learn: • Reasons to create a start-up accelerator • What you can expect to achieve • Some rules of the road
- 3. What you should take away? 1. Health Plans have a responsibility to innovate 2. Innovation is occurring on the periphery 3. The System should partner with the Startup By piloting or partnering with startups, health plans can provide value to their members, bend the cost curve, identify acquisition and investment opportunities and position themselves as industry innovators … and change their culture in the process!
- 4. Speakers • Shannon O'Toole, Director at BCBSMA • Kathy Freyman, Innovation Consultant at Florida Blue • Jenna Rose, Director at Healthbox • Christina Bognet, Founder/CEO of HealthyDelivery • Kevin Riley, Founder Health of Model Innovation
- 5. Meet Shannon O'Toole, BCBSMA Healthbox Boston Executive in Residence • Team mentoring and strategic consultation • Manage and execute program operations • Influence external public relations’ communications • Integrate Healthbox story across BCBSMA culture
- 6. Meet Kathy Freyman, Florida Blue Business or Program Lead for Healthbox Florida, Florida Blue • Program Oversight • Communications recommendations • Facilities planning • Mentor engagement • Management of the timeline • Getting the word out internally and externally • Collaboration with Healthbox on marketing and events
- 7. Meet Jenna Rose, Healthbox Director at Healthbox • Focused on US operations of Healthbox accelerator programs • Background in public health, epidemiology and entrepreneurship • Works closely with 20+ portfolio companies to help unlock the healthcare industry
- 8. Meet Christina Bognet, HealthyDelivery CEO of HealthyDelivery • Consumer tech healthy eating startup based in Boston • Graduated from MIT in 2010 with a degree in neuroscience • Won the grand prize Innovation Award and $25K at the accelerator's Demo Day in November 2012
- 9. What are we talking about?
- 10. So You Want to Build a Start-up Accelerator? Why would you do it?
- 11. Infrastructure and resources to support health focused entrepreneurialism
- 12. Shared learning and experiences between entrepreneurs and Florida Blue employees
- 13. Access to early-stage healthcare trends, ideas and companies
- 14. So You Want to Build a Start-up Accelerator? How is it done?
- 15. How is it done at Healthbox? Ten Teams. Four Months. One Goal ACCELERATOR MODEL Provides $50K in seed capital in exchange for equity to promising companies Introduces entrepreneurs to an industry network of experts Helps companies define a value proposition and business model Exposes companies to investors and early customers
- 16. The Healthbox Model Step 1 Build a Network Across the Industry Step 2 Source and Screen Applications Step 3 Guide Teams to Key Milestones Step 4 Support Long Term Growth
- 17. The Healthbox Model in Action Healthbox brings together partners from across the healthcare continuum 200+ DIVERSE PROFESSIONALS INVESTORS HEALTH PLANS PROVIDERS STRATEGICS GOV’T GLOBAL EXPERT 23% 22% 10% 27% 3% NETWORK MARKET TRACTION FINANCING On average, companies triple their On average, 8 out of 10 companies number of pilots secure external capital
- 18. So You Want to Build a Start-up Accelerator? What can you expect?
- 19. Healthbox Boston Results Strategic Advancement One Community 3,400 200+ Healthbox Boston Associate Engagement 2012 Economic Impact 5% 22 Making Quality Healthcare Affordable
- 20. Final Insights from the Panel / Q &A • Shannon O'Toole, Director at BCBSMA • Kathy Freyman, Innovation Consultant at Florida Blue • Jenna Rose, Director at Healthbox • Christina Bognet, Founder/CEO of HealthyDelivery 20
- 21. Questions Kevin Riley & Associates Business Model Innovation for Healthcare kevin@healthmodelinnovation.com www.healthmodelinnovation.com
Editor's Notes
- KEVIN TO SHOW SLIDE – 1 MIN
- KEVIN WILL GIVE THE HIGH LEVEL PREMISE OF COMBINING THE NECESSARY PART OF THE LEGACY HEALTHCARE SYSTEMWITH THE INNOVATIVE PART OF THE STARTUP SYSTEM TO DIRECT INNOVATION INTO MEANINGFUL AREAS OF FOCUS2 MIN
- KEVIN WILL INTRODUCE THE PANELISTS – 5 MINUTESShannon is accountable for providing strategic consultation and programmatic support to enterprise-wide projects and initiatives. Committed to aligning projects to the Plan’s strategic framework, Shannon is responsible for translating strategy into action and ensuring the delivery of customer value through product innovation, member engagement, health and wellness and provider alignment.-----------------Kathy is one of a team of “innovators” looking to drive Florida Blue’s goals of diversified income and affordability through the discovery of new market opportunities and positioning qualified ones for advancement. Prior her current assignment, Kathy worked for CareSpot Express Healthcare (formerly Solantic Walk-In Urgent Care) as the Director of Innovation and the VP of Marketing, where she was responsible for overseeing all aspects of the company’s marketing and communications functions, including planning development, implementation and evaluation of all internal and external strategies. As the Innovation Director, she spearheaded the development and roll-out of a number of non-traditional product and service initiatives, among them a robust travel medicine program. Prior to CareSpot, Kathy had 13 years tenure with Florida Blue where she worked in a variety leadership and product development roles. Her most recent position was Innovation Leader where she facilitated the vetting of emerging business opportunities with cross-functional teams, assessing the viability of project success and presenting resulting recommendations to senior leadership.A graduate of Jacksonville University, Kathy has a Bachelor of Science degree in business development and leadership. She is a certified QFD (Quality Function Deployment) Black Belt® and a facilitator of the Creative Problem Solving process through CPSI, the gold standard for creativity methods.-----------------Jenna Rose is a Director at Sandbox Industries, a business incubator and venture capital firm based in Chicago, IL. Through her work at Sandbox, Jenna also helps manage Healthbox, a business accelerator program focused on healthcare startups. Jenna previously worked for a health clinic in Kenya researching patient outcomes and designing an electronic medical record system. Jenna has a Master of Health Sciences from Johns Hopkins School of Public Health and a Bachelors of Arts in Biology and Society from Cornell University.-------------------Christina Bognet is passionate about preventative medicine and helping people lead happier, healthier lives. She is the founder and CEO of HealthyDelivery, a consumer tech healthy eating startup based in Boston. Christina graduated from MIT in 2010 with a degree in neuroscience and subsequently worked as a healthcare consultant for biotech, life science, and pharmaceutical companies. While a student at MIT, Christina worked as a coordinator for a non profit summer camp for the children of cancer patients and researched at Childrens Hospital Boston. She founded HealthyDelivery after losing fifty pounds and developing a deep understanding of the problems many face in their struggle to lose weight. HealthyDelivery was funded by Healthbox and Blue Cross Blue Shield of MA and won the grand prize Innovation Award and $25K at the accelerator's Demo Day in November 2012.
- EACH PANELIST WILL GIVE A BRIEF ON THEIR INVOLVEMENT IN CREATING AN ACCELERATOR AT A HEALTH PLAN – 2 MINUTES PER
- EACH PANELIST WILL GIVE A BRIEF ON THEIR INVOLVEMENT IN CREATING AN ACCELERATOR AT A HEALTH PLAN – 2 MINUTES PER
- EACH PANELIST WILL GIVE A BRIEF ON THEIR INVOLVEMENT IN CREATING AN ACCELERATOR AT A HEALTH PLAN – 2 MINUTES PER
- EACH PANELIST WILL GIVE A BRIEF ON THEIR INVOLVEMENT IN CREATING AN ACCELERATOR AT A HEALTH PLAN – 2 MINUTES PER
- KEVIN TO EXPLAIN AT THE HIGHEST LEVEL WHAT A HEALTH ACCELERATOR ACTUAL IS – 2 MIN
- KATHY TO EXPLAIN IN DETAIL- 5-10 MINProvide the infrastructure and resources to support health focused entrepreneurialism in the state of Florida;Enable shared learning and experiences between healthcare entrepreneurs, leaders, and Florida Blue employees; Gain access to early-stage healthcare trends, innovative ideas and companiesOTHER THOUGHTSReasons to create a start-up acceleratorSupport health focused entrepreneurialism Ignite the imaginations of leaders and employees Boost your internal innovation "excitement” Build a network of like-minded stakeholders Gain access to early-stage healthcare trends and ideasStimulate and experiment with the future of health careEnable shared learning across the ecosystemPilot startups that support transformationPosition the brand at the forefront of health care innovation
- KEVIN TO EXPLAIN AT THE HIGHEST LEVEL THE MODEL AND SOME PLAYERS – 2 MINModels range from:3 month enrollment, seed funding, exposure, & demo dayto3 year enrollment, no seed money, structured curriculum, collaborative peer network and access to potential partners, customers and mentorsBlueprint Health, DreamIt Ventures, Healthbox, New York Digital Health Accelerator, Rock Health, Startup Health
- JENNA TO EXPLAIN THE HBOX PROCESS – 5 min
- JENNA TO EXPLAIN THE HBOX MODEL – 10 min
- JENNA TO EXPLAIN THE HBOX RESULTS – 5 min
- SHANNON TO TALK DETAILS OF OUTCOMES – 10 MIN
- SHANNON AND KATHY AS PLAN EMPLOYEES WILL LIST 3 IMPORTANT CONSIDERATIONS THEY HAVE LEARNED FROM THE PROCESS (3-5 MIN EACH)----------Shannon?????????----------Kathy Do you want to do it yourself or partner with those that have the expertise in running?It takes a village, even with expertise – It has challenged us to tap into connections with partners, community leaders, etc., across the state to ensure we have the resources in place for a successful program.Manage your expectations with ROI in early stage start-ups. For example, our primary goal is to gain access to early-stage trends over deal flow. It’s not to say deal flow is not important, it’s just not our primary reason for investing in an accelerator program.----------OPEN DISCUSSION WITH ALL PARTIES MODERATED QUESTIONS THRU KEVIN