REGION’S LEADING ACADEMIC MEDICAL CENTER LAUNCHES NEW VENTURE CAPITAL FUND, TAMPA GENERAL HOSPITAL INNOVENTURESPublished: Nov 6, 2020
By Tampa General Hospital
Tampa General to partner with Embarc Collective as it sets its sights on building and elevating health care innovation in Tampa Bay.
Tampa, FL (Nov. 6, 2020) – Tampa General Hospital President and Chief Executive Officer John Couris announced the creation of Tampa General Hospital’s InnoVentures, a venture capital fund dedicated to driving a culture of innovation across the region’s leading academic medical center through the support of early-stage startups and direct investments. With the inauguration of TGH InnoVentures, Tampa General will join an elite group of the nation’s leading medical centers engaged in venture capital investing.
“TGH InnoVentures is a critical ingredient in our strategic vision to become the safest and most innovative academic health system in America,” said Couris. “It has the potential to be a game-changer for both the organization and the health care industry. First and foremost, TGH InnoVentures will allow us to develop innovative solutions to improve the quality and access to care right here at Tampa General. At the same time, TGH InnoVentures will provide us a platform to invest both resources and funds into emerging companies and technology that will have the ability to significantly improve the delivery of health care within our region, state, and even nationally.”
TGH InnoVentures will be comprised of three primary vehicles. The TGH Innovation Lab will serve as an onsite program designed to support team members and physicians in improving operational efficiencies and solving problems within the organization. Through the TGH Accelerator program, the organization will invest and nurture early-stage health care or health care delivery companies as they prepare their business for the market. Tampa General will function as a living-learning laboratory engaging team members and physician-scientists, as well as emerging companies, providing space, expertise, and access to organizational resources in addition to direct capital. Finally, through TGH InnoVentures, Tampa General will directly invest in health care and healthcare-related companies.
Through TGH InnoVentures, Tampa General will partner with Embarc Collective, Tampa Bay’s innovation hub and education nonprofit dedicated to helping startups grow into scalable, thriving businesses. TGH InnoVentures will serve as Embarc Collective’s health care partner, taking up residence in their 32,000 square foot facility, located at 802 E Whiting St in Tampa, Florida. TGH InnoVentures is the latest site to be located in Tampa’s developing medical district, which is a comprised of research, clinical care and educational buildings clustered together to create an environment that will spur innovation and collaboration, and further attract private equity, venture capital and biosciences.
“A partnership between Embarc Collective and Tampa General makes perfect sense. Together, as we leverage our collective expertise and resources, this will help accelerate Tampa Bay’s position as a top location for emerging business, particularly in the field of health care and health tech,” explained Embarc Collective CEO Lakshmi Shenoy.
Shenoy continued, “Through this dynamic partnership, more than 50 early-stage startups at Embarc Collective will be able to meaningfully engage with TGH InnoVentures regularly. The opportunities that Tampa General will offer startups through TGH InnoVentures, in addition to their reputation as a leading health care provider, will attract new companies to the region. As we work to grow Tampa Bay’s innovation ecosystem, the field of health care will be a key driver, and TGH InnoVentures will be leading the charge.”
Rachel Feinman will join Tampa General in the newly created role of vice president for innovation in January 2021. She will help launch and manage TGH InnoVentures. Feinman, a Tampa native and intellectual property attorney with a background in venture capital, comes to Tampa General from the Florida-Israel Business Accelerator (FIBA), where she served as the executive director.
“I am honored to be joining the Tampa General team,” Feinman said. “I am thrilled to help build and lead TGH InnoVentures. The establishment of TGH InnoVentures represents a watershed moment for both the organization and our community. In my previous role at the Florida-Israel Business Accelerator, I witnessed firsthand John and the team’s ability to improve patient experiences and outcomes through innovation inside the hospital. Now with TGH InnoVentures, Tampa General will cement its commitment to this type of innovation and problem-solving internally and expand its reach and impact as it supports the next generation of companies working to improve health care delivery and access. TGH InnoVentures will help build a nationally recognized home for innovation right here in Tampa Bay.”
TGH InnoVentures will officially launch in the first quarter of 2021.
ABOUT TAMPA GENERAL HOSPITAL
Tampa General Hospital, a 1006-bed nonprofit academic medical center, is one of the largest hospitals in America and delivers world-class care as the region’s only center for Level l trauma and comprehensive burn care. It is one of the nation’s busiest adult solid organ transplant centers and is the primary teaching hospital for the USF Health Morsani College of Medicine. With five medical helicopters, Tampa General Hospital transports critically injured or ill patients from 23 surrounding counties to receive the advanced care they need. Tampa General houses a nationally accredited comprehensive stroke center, and its 32-bed Neuroscience, Intensive Care Unit, is the largest on the West Coast of Florida. It also is home to the Jennifer Leigh Muma 82-bed Level IV neonatal intensive care unit and a nationally accredited rehabilitation center. Tampa General Hospital’s footprint includes 17 Tampa General Medical Group Primary Care offices, TGH Family Care Center Kennedy, TGH Brandon Healthplex, TGH Virtual Health and 19 outpatient Radiology Centers. Tampa Bay residents also receive world-class care from the TGH Urgent Care powered by Fast Track network of clinics, and they can even receive home visits in select areas through TGH Urgent Care at Home, powered by Fast Track. As one of the largest hospitals in Florida, Tampa General Hospital is the first in the state to partner with GE Healthcare and open a clinical command center that uses artificial intelligence and predictive analytics to improve and better coordinate patient care at a lower cost. For more information, go to www.tgh.org.