Tampa General Hospital has joined the growing list of health systems with an innovation hub and venture capital fund. It has announced the creation of a venture capital fund dedicated to driving a culture of innovation across Tampa General through the support of early-stage startups and direct investments.
Tampa General Hospital is a 1,006-bed nonprofit academic medical center. The new TGH InnoVentures, set to launch in the first quarter of 2021, 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 healthcare or healthcare 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.
• Through TGH InnoVentures, Tampa General will directly invest in healthcare and healthcare-related companies.
In a statement, John Couris, Tampa General’s president and CEO, said 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."
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 healthcare partner, taking up residence in its 32,000-square-foot facility in Tampa.
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, an 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.