On Thursday, nearly 30 startups are competing against each other to join Plug and Play Cleveland’s first accelerator class. The organizers of Plug and Play stated:
“In 2015, we had 6 satellite offices and today we have 25. The latest addition to our global family is our Cleveland branch, at the heart of Ohio’s robust health and investment network. In partnership with the world-renowned Cleveland Clinic and JumpStart, our accelerator creates an environment that empowers entrepreneurs to connect with investors and develop their cutting-edge technology. We combine Silicon Valley’s established ecosystem and Cleveland’s thriving medical community to create the ultimate hub of digital health innovation. We will accelerate world-class startups, enable our corporate partners to innovate faster, and facilitate meaningful relationships.”
According to Cleveland.com, the Cleveland Clinic and JumpStart will help select 10 businesses for the health-tech accelerator class, which will run for three months. Those chosen for the program will receive mentorship sessions and assistance in finding customers and creating proof of concept products or services.
The media outlet also reported that the Cleveland Clinic’s role gives Plug and Play direction for which types of companies to go after, helps in the selection of companies and offers guidance to the chosen companies as they work toward attracting investors. Cleveland Clinic Innovations Executive Director, Peter O’Neill, shared:
“Northeast Ohio is a strong destination for healthcare companies. I’m not suggesting we’re stronger than San Francisco or Boston; however, I do believe an early stage healthcare company that doesn’t consider Cleveland is making a mistake. Plug and Play is an opportunity for us to prove that premise correct.”
The selected companies for the accelerator class will be announced in mid-March.