Tampa General Hospital Launches New VC Fund

Tampa General Hospital President and Chief Executive Officer John Couris announced the creation of Tampa General Hospital’s InnoVentures, a venture capital fund dedicated to driving a culture of innovation across the region’s leading academic medical center through the support of early-stage startups and direct investments.

With the inauguration of TGH InnoVentures, Tampa General will join an elite group of the nation’s leading medical centers engaged in venture capital investing. TGH InnoVentures will officially launch in the first quarter of 2021.

“TGH InnoVentures is a critical ingredient in our strategic vision to become the safest and most innovative academic health system in America,” said Couris.

TGH InnoVentures will be comprised of three primary vehicles.

The TGH Innovation Lab will serve as an onsite program designed to support team members and physicians in improving operational efficiencies and solving problems within the organization.

Through the TGH Accelerator program, the organization will invest and nurture early-stage health care or health care delivery companies as they prepare their business for the market.

Tampa General will function 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.

Finally, through TGH InnoVentures, Tampa General will directly invest in health care and healthcare-related companies.

Through TGH InnoVentures, Tampa General will partner with Embarc Collective, Tampa Bay’s innovation hub and education nonprofit dedicated to helping startups grow into scalable, thriving businesses.

TGH InnoVentures will serve as Embarc Collective’s health care partner, taking up residence in their 32,000 square foot facility, located at 802 E Whiting St in Tampa, Florida. TGH InnoVentures is the latest site to be located in 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 nd collaboration, and further attract private equity, venture capital and biosciences.

“A partnership between Embarc Collective and Tampa General makes perfect sense. 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,” explained Embarc Collective CEO Lakshmi Shenoy.

Shenoy continued, “Through this dynamic partnership, more than 50 early-stage startups at Embarc Collective will be able to meaningfully engage with TGH InnoVentures regularly. The opportunities that Tampa General will offer startups through TGH InnoVentures, in addition to their reputation as a leading health care provider, will attract new companies to the region. As we work to grow Tampa Bay’s innovation ecosystem, the field of health care will be a key driver, and TGH InnoVentures will be leading the charge.”

Rachel Feinman will join Tampa General in the newly created role of vice president for innovation in January 2021. She will help launch and manage TGH InnoVentures. Feinman, a Tampa native and intellectual property attorney with a background in venture capital, comes to Tampa General from the Florida-Israel Business Accelerator (FIBA), where she served as the executive director.

“I am honored to be joining the Tampa General team,” Feinman said. “I am thrilled to help build and lead TGH InnoVentures. The establishment of TGH InnoVentures represents a watershed moment for both the organization and our community. In my previous role at the Florida-Israel Business Accelerator, I witnessed firsthand John and the team’s ability to improve patient experiences and outcomes through innovation inside the hospital. Now with TGH InnoVentures, Tampa General will cement its commitment to this type of innovation and problem-solving internally and expand its reach and impact as it supports the next generation of companies working to improve health care delivery and access. TGH InnoVentures will help build a nationally recognized home for innovation right here in Tampa Bay.” – BusinessNewsAsia.com