Halcyon Incubator is partnering with CareFirst to support healthcare startups

Halcyon Incubator is partnering with CareFirst BlueCross BlueShield to better support entrepreneurs developing healthcare startups.

We’re excited to partner with @halcyonincubate to support emerging D.C. #healthcare entrepreneurs in their efforts to develop innovative solutions. https://t.co/DdZDX2gkI5 pic.twitter.com/jokpdPlVKb

— CareFirst BlueCross BlueShield (@CareFirst) October 10, 2019

Halcyon hosts an 18-month fellowship, welcoming two cohorts of eight companies a year.

The fellowship is split into two stages, the first being the residency stage, in which fellows get rent-free housing, a $10,000 stipend and access to mentors, advisors and supporters to scale their ventures. This stage will conclude with a final demo day when the entrepreneurs will pitch their ventures to an audience of investors and funders.

In the second stage of the program, a 13-month post-residency, entrepreneurs will continue to have free access to Halcyon resources to expand their networks and secure funding.

CareFirst’s corporate investment and innovation arm, Healthworx, will support the Georgetown-based incubator for social enterprises by providing $200,000 to the program and prescribing that one startup in each of Halcyon’s next four cohorts will have a healthcare focus. A member of the Healthworx team will also join the selection committee.

“This investment aligns with our strategy of supporting innovative entrepreneurs and startup companies that are committed to finding ways to disrupt and transform our healthcare system,” Ricardo Johnson, senior director of Healthworx, said in a statement.

Applications for the next cohort closed last week. The next incubator class will be announced by the end of the year.