Houston Health Ventures (HHV) and Houston Technology Center (HTC) Form Strategic Partnership
Supporting Houston technology commercialization and the NextHIT Accelerator
The Houston Technology Center (HTC) and Houston Health Ventures (HHV) are pleased to announce a strategic partnership for the continued commercialization of technologies in Houston, Texas. As part of the partnership, Walter Ulrich, President and CEO of HTC, welcomes David Franklin to the HTC Life Science Screening Committee. "David represents a new source of venture funding to Houston. He is an astute mentor and brings a sharp eye to evaluate early stage companies, and we are delighted to have him and Houston Health Ventures as an active part of our community," says Ulrich.
As part of the partnership, HHV will also work with HTC to market its NextHIT Accelerator program. NextHIT is focused on funding up to ten Health IT companies with $30,000 in equity funding plus a variety of other benefits. Companies graduating from NextHIT will have the option to continue their commercialization path by utilizing services provided by HTC.
In addition, HHV will leverage HTC's expertise in both business incubation and company selection. David Franklin, Managing Director, HHV and NextHIT Accelerator says, "We are delighted to support HTC, which was named by Forbes as one of 'The twelve business incubators changing the world.' HTC's client screening and mentoring process is nationally recognized, and we intend to invest as much as $60,000 in the best-in-class new companies selected and supported by the HTC in its 50,000 sq. ft. facility. Additionally, HTC is the administrator of the Texas Emerging Technology Fund for the gulf coast region which provides additional capital for the startup ecosystem."
Houston Health Ventures (HHV) is an early stage venture capital company focused on medical devices, diagnostics, and health IT companies. HHV is located in Houston, Texas, the 3rd largest city in the United States and home to the world's largest medical center. HHV provides a mechanism for individuals to get involved with early stage investing and provides entrepreneurs with additional mentorship and capital to continue on their path towards success. Interested parties can contact David@HoustonHealthVentures.com.
The NextHIT Accelerator: The NextHIT (Health IT) Accelerator program, created and funded by Houston Health Ventures, is accepting up to ten best-in-class companies from around the world for its acceleration program. Each company selected to join NextHIT will be provided with a $30,000 equity investment as well as $24,000 of Rackspace services. NextHIT will also provide selected companies with 8 weeks of tailored curriculum and access to need-specific mentors. Additionally, companies will be provided free office space at University of Houston's brand new Innovation Center located at UH's Energy Research Park for the duration of the program. University of Houston is a member of the Texas Medical Center, the largest Medical Center in the world. Applications are due by August 13, 2014 and Acceleration begins on September 22, 2014. Interested parties can contactJosephine@HoustonHealthVentures.com and/or apply online at www.HoustonHealthVentures.com.
The Houston Technology Center is a non-profit organization that is driving high tech job growth and diversifying the Houston Economy. The Houston Technology Center is the Entrepreneurial Capital and the hub for entrepreneurship in Houston and is driving new companies in energy, life sciences, IT, nanotechnology and aerospace. HTC has already helped create thousands of jobs and over $600 million a year of annual economic activity, and are on the cusp of major growth for the organization and for the community they serve.