Bangalore, India, September 23, 2016 – Unitus Seed Fund, India’s leading impact venture fund investing in startups innovating for the masses, today announced its partnership with GE Healthcare’s newest initiative five-eight – GE’s first Healthcare Accelerator aimed at improving healthcare outcomes for the world’s developing economies. The Accelerator will target global health startups with a vision to improve healthcare quality and accessibility in developing or low-resource settings – from education and training disruptive, low-cost technologies and digital applications.
Unitus Seed Fund’s healthcare portfolio companies will be among the initial applicants for the first Accelerator program. Five.eight focuses on commercially scaling healthcare innovations for emerging economies, with the potential for GE Healthcare distribution of the selected startup’s product, or integration of the service into GE Healthcare’s Affordable Care Portfolio.
In this partnership, Unitus Seed Fund will leverage its startup ecosystem reach to bring in early-stage startups, bring forth its portfolio management and mentoring expertise as well as provide risk capital to fuel the growth runway of the companies. GE Healthcare will tap in to its global expertise and experience across the entire product validation, development and commercialization to accelerate the growth of the selected startups.
“We invest in entrepreneurs working on cutting-edge, tech-enabled healthcare innovations that can impact the masses by making available faster, accurate and affordable healthcare services. We believe that the five.eight accelerator and our partnership has the potential to maximize success for these innovations and enhance healthcare access across the socio-economic pyramid”, said Dave Richards, Co-Founder and Managing Partner, Unitus Seed Fund.
“Partnering with investors allows us to work with some extraordinary entrepreneurs that have promising technologies to extend our portfolio of affordable solutions,” said Terri Bresenham, President & CEO of GE Healthcare’s Sustainable Healthcare Solutions. “Our goal is to define the next generation of care delivery technologies that can deliver impact where it matters.”
Unitus Seed Fund is the leading impact venture fund investing in startups innovating for the masses in India. Unitus invests in sectors including healthcare, education and financial services. Founded in 2012, Unitus Seed Fund is managed by Capria Ventures which is part of the Unitus Group, a premier financial services group operating in India and other emerging markets since 2000. Unitus Seed Fund is based in Bangalore and Seattle, and is a member of the Capria Network.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter – great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.