Tampa General Hospital and Embarc Collective are teaming up to build and elevate health care innovation in Tampa Bay through venture capital.
On Friday, TGH president and CEO John Couris announced the creation of TGH InnoVentures, a venture capital fund aimed at driving a culture of innovation through the support of early-stage startups and direct investments. It will officially launch in January 2021.
“TGH InnoVentures is a critical ingredient in our strategic vision to become the safest and most innovative academic health system in America,” Couris said. “It has the potential to be a game-changer for both the organization and the health care industry.”
TGH InnoVentures will be comprised of three parts:
- The TGH Innovation Lab, which will serve as an onsite program designed to support team members and physicians in improving operational efficiencies and solving problems within the organization.
- The TGH Accelerator program, the arm of the organization that will invest and nurture early-stage health care or health care delivery companies as they prepare their business for the market. TGH will serve 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.
- TGH InnoVentures, where TGH will directly invest in health care and healthcare-related companies.
Through TGH InnoVentures, TGH will partner with Embarc Collective, an education nonprofit focused on the area’s startup community. TGH InnoVentures will serve as Embarc Collective’s health care partner and will be housed at Embarc’s downtown Tampa location, making it the latest addition to 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,” said Embarc Collective CEO Lakshmi Shenoy. “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.”
Rachel Feinman, the current executive director of the Florida-Israel Business Accelerator, will step down from that role later this month to join TGH in the newly created role of vice president for innovation in January 2021.
“I am honored to be joining the Tampa General team,” said Feinman, an intellectual property attorney with a background in venture capital. “The establishment of TGH InnoVentures represents a watershed moment for both the organization and our community, and it will help build a nationally recognized home for innovation right here in Tampa Bay.”