Intermountain Foundry supports employee innovation by providing a structured framework that turns employee ideas and near-market concepts into commercial businesses. Using proprietary, market-tested Healthbox curriculum, the Foundry works to help employee inventors, innovators, and entrepreneurs determine the commercial viability of their business concepts, and then scale them throughout Intermountain and the broader healthcare industry.
Through a structured eight-week process, employee innovators refine their business concept, validate the market opportunity, identify product development or service needs, and develop a plan for growth including go-to-market strategy and funding needs. Employees also have the opportunity to seek investment following a rigorous planning process.
Salt Lake City Healthbox Accelerator: Intermountain Healthcare and Healthbox have announced the launch of their unique healthcare innovation and venture model that harnesses internal creativity and external disruption. While the physical structure for this endeavor is being developed in Salt Lake City, adjacent to the system’s flagship medical center, the Innovation at Intermountain initiative is already stimulating collaboration between inventors, entrepreneurs, and healthcare industry experts alike to improve quality and service while making care more affordable.
The Accelerator program has selected 10 early-stage companies to participate in the inaugural Salt Lake City Healthbox Accelerator. Each of the 10 startup companies – nine from Utah and one from Massachusetts – has been offered an initial seed investment of $50,000 from Healthbox, and is participating in the three-month business accelerator in Salt Lake City. They will have unique access to Healthbox partners and a network of global experts supporting their growth in a complicated healthcare system.
In addition to announcing the 10 startups in the Salt Lake City Healthbox accelerator, Healthbox also revealed that it has set aside an additional $300,000 for potential new investments in one or more of the 10 companies participating in this initial Utah-based cohort.