The Inova Personalized Health Accelerator is ready to launch

The Inova Health System will formally open its doors to new ideas by launching its personalized health accelerator on Nov. 30.

The event begins at 6:15 p.m. and will be held at the Inova Center for Personalized Health at 3225 Gallows Rd. in Fairfax. It includes a ribbon cutting, networking, keynote speeches and a tour of the facility.

The hospital system’s accelerator program has received more than 50 applications, and will soon announce their first portfolio company. So far, the accelerator’s applications are open, and Inova has recognized 25 interested and relevant applicants. Five applications were in detailed review as of two weeks ago.

As we’ve reported, Inova is offering $75,000 in exchange for 10 percent equity in the companies it accepts – a relatively high $750,000 valuation for an early-stage accelerator. The companies will then run through four-to-five month individualized programs. If founders can raise $250,000 in third-party commitments, then Inova will match the funds.