On Tuesday, equity crowdfunding platform RedCrow announced it has formed a partnership with The Innovation Institute, an incubator dedicated to growing healthcare startups. According to RedCrow, The Innovative Institute will promote qualified companies within the sector for RedCrow consideration and the partnership will give startups exposure to crowdsourcing and equity crowdfunding.
CEO fo RedCrow, Brian Smith, revealed that the funding portal will create a customized social platform for The Innovation Institute’s 200,000 members, thus giving users the opportunity to join RedCrow’s social discussions, share ongoing campaigns, discuss investment opportunities with other professionals in the field. Smith also noted:
“Our mantra is knowledge is power – invest in what you know. Our niche in healthcare is focused on bringing knowledgeable investors to make educated investments in companies within their vertical. The Innovation Institute’s 200,000 plus members are just that: knowledgeable healthcare professionals and ‘Doctorpreneurs’ who can advise early-stage companies.”
Joe Randolph, President and CEO of The Innovation Institute, also commented:
“The relationship with RedCrow fits nicely with the strategic purpose of our business model – to advance innovation. RedCrow will allow us to help new startup ventures get needed capital to stand up and grow their companies and bring new products and services to market. This crowdfunding platform fits well with our new LRVHealth Fund, which will focus on early stage ventures. There are definite synergies between the two organization and together they will meet the need in the market and provide additional capability to advance innovation.”
Larry Stofko, Executive Vice President of The Innovation Lab, then added:
“Since our launch, we have already interacted with nearly a dozen early-stage companies that have been created by extremely talented medical professionals across our 125 member system hospitals. Our partnership with RedCrow will provide these companies with the post-seed funding needed to get to the next level, as well as provide individuals in the healthcare ecosystem an exciting opportunity to invest in their peers.”