Answers to Frequently Asked Questions
What types of businesses are best suited for the Cedars-Sinai Accelerator Powered by Techstars?
We are looking for companies transforming health and healthcare. Companies that are creating hardware, software, medical devices and/or services that empower the patient or healthcare professional to better track, manage, and improve health and healthcare delivery are eligible to apply.
How will the final companies be chosen? What are the criteria?
Cedars-Sinai Accelerator Powered by Techstars is looking for focused, well-rounded companies with great teams, strong, thoughtful ideas and the ability to execute.
What if my company is not an expert in clinical operations or healthcare?
Cedars-Sinai Accelerator Powered by Techstars is focused on bringing resources to entrepreneurs to help you do more, faster. We will provide clinical expertise, design and technical assistance, guidance, and mentorship for your innovation, but each company in the program must be capable of building their own business.
What is the timeframe for this program?
Applications for Cohort 3 have closed. The program begins September 12th and ends December 7th, with a Demo Day on December 6th, 2017. Applications for Cohort 4 will go live in early 2018.
How does the application process work?
The application process is online (www.f6s.com/techstarshealthcareaccelerator/apply) and includes a few simple questions about your company and the team behind it. Applicants also are asked to provide a video that describes their team and their business.
When is the demo day and who will be invited?
Cedars-Sinai and Techstars have a strong network of industry leaders, investors, venture capitalists and press who will be invited to a private demo day in Los Angeles.
What will a typical day be like for a founder participating in Cedars-Sinai Accelerator Powered by Techstars?
Very busy. On most days, the Accelerator will organize group educational sessions with industry leaders, mentors and sponsors, followed by one-on-one mentor meetings, Accelerator team meetings, presentation building or pitch practice. In between those times, your team will need to do the necessary work for your company and its products. It is important that you are there and should plan for long days.
Does the Cedars-Sinai Accelerator Powered by Techstars provide housing for the participants?
We will provide a list of possible housing locations, but participants will need to make and pay for their own living arrangements.
Can I apply if our company or founders are not from the USA?
Yes. Anyone from anywhere can apply. You do have to be legally in the U.S. during the program, of course.
What networking and educational opportunities will be provided during the four months?
We will organize a variety of one-on-one and group discussions with mentors, entrepreneurs, angel investors, legal experts and venture capitalists, as well as others in a variety of forums.
What resources will the Cedars-Sinai Accelerator Powered by Techstars provide?
The Cedars-Sinai Accelerator Powered by Techstars will provide access to healthcare executives, key decision makers, and mentors to help startups create innovations that transform healthcare and build great companies of their own. Cedars-Sinai also will support the accelerator with facilities, visibility, and proactive engagement around business opportunities that emerge from this program.
Will all the mentors come from Cedars-Sinai?
No. They will include entrepreneurs and investors with a breadth of experience building businesses from Techstars’ extensive global network of mentors.
Where is the Cedars-Sinai Accelerator Powered by Techstars?
The Cedars-Sinai Accelerator Powered by Techstars will be located at the Cedars-Sinai Innovation Space in West Hollywood, California.
Do the companies that participate have to stay in Los Angeles when the program ends after four months?
No. Companies are free to move to any location they wish after the program.
What type of investment capital do companies participating in the Cedars-Sinai Accelerator Powered by Techstars receive?
Each company participating in the program receives $20,000 in funding upon acceptance, and an additional $100,000 convertible debt note.
How detailed does my idea need to be in the application?
In this initial application process, we ask that applicants to describe the market opportunity, the team, the idea and how you plan to execute it.
Will the information in my application be treated as confidential?
Please do not submit any business plans, trade secrets or “secret sauce.” Your application must include only non-confidential information. All information disclosed to us in your application will be considered non-confidential public information. Techstars will only treat information as confidential if the information is covered by a formal, written confidentiality agreement signed by Techstars prior to disclosure.
Does Techstars or Cedars-Sinai own the intellectual property (IP) developed by my company during the Cedars-Sinai Accelerator Powered by Techstars program?
No. IP developed by a participating company is retained by that company.
Anything else I need to know from a legal perspective?