More than 40 entrepreneurs participated in a Center for Entrepreneurship boot camp designed to help develop their startup companies and prepare for a federally funded competition seeking innovative proposals to improve healthcare in under-served communities.
The two-day boot camp for competitors in the $25,000 Healthcare Entrepreneurship Community Challenge drew entrepreneurs from nine states and Canada to Hofstra’s ideaHUb, where panels of established entrepreneurs, community technical advisors and members of the program’s steering committee led workshops that offered coaching and mentoring.
Entrepreneurs from nine states and Canada went through the boot camp, which focused on the Healthcare Challenge topic “Empowering Patients and Communities”, as well as the Lean LaunchPad Methodology, an approach for testing and developing business models established by serial technology entrepreneur, professor and author Steve Blank. The Challenge’s focus area includes under-served communities in Long Island, New York City and the Hudson Valley region.
The project is a partnership of Hofstra’s Center for Entrepreneurship, the School of Health Professions and Human Services, the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell and Northwell Ventures, the investment arm of Northwell Health. It was funded by a $485,000 federal grant administered by the U.S. Department of Commerce’s Economic Development Administration. Each year, the steering committee, comprised of Hofstra faculty and public health, business, and venture capital experts, will choose a different community healthcare topic.
The boot camp culminated in a pitch session in which the entrepreneurs delivered two-minute elevator pitches and received feedback from members of the steering committee. The entrepreneurs will be working all summer on their startup companies, including participating in individual mentor sessions and conducting customer discovery interviews in under-served communities in New York City, Long Island, and the Hudson Valley.
Winning proposals will be chosen at a Reginal Symposium and pitch competition on October 2, 2018 at Hofstra. A prize of $15,000 will be awarded for first place, $7,500 for second place, and $2,500 for third place. The prize money is sponsored by Northwell Health, Digital Remedy, Hofstra University’s School of Health Professions and Human Services, Frank G. Zarb School of Business, and Office of the Provost.