Johns Hopkins University is working with insurer CareFirst BlueCross BlueShield and venture capital firm TechStars to create an early-stage artificial intelligence startup accelerator, the organizations said Friday.
The 13-week accelerator program will be called Techstars AI Health Baltimore powered by Johns Hopkins and CareFirst. The university and companies aim to provide capital and guidance for entrepreneurs focused on improving care with AI.
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The program will take place in Baltimore, home to Johns Hopkins and CareFirst's headquarters. The accelerator, which will launch in March 2025, is taking applications starting Aug. 26 through Nov. 20.
The program will invest in up to 12 AI companies in digital health, medical technology and biotech.
CareFirst will bring the experience of an insurer. Johns Hopkins has expertise in turning research into a commercial enterprise and Techstars has run multiple accelerator programs including a physical therapy startup program with University of North Texas Health Science Center in Fort Worth, Texas. Through its accelerator model, TechStars has funded more than 600 healthcare companies including PillPack, which was acquired by Amazon in 2018 for $753 million.
Interest in AI has been palpable in recent months. A July report from digital health research and venture capital firm Rock Health found one in three dollars invested in the first half of 2024 went to startups that use AI.
