New Program Bolsters Healthcare Startup Ecosystem in Orange County and Southern California
OC HiT and Medical Mondays are a collaboration between Tech Coast Angels, Octane Launchpad SBDC, CHOC Research and Hoag created to advance and support healthcare startups for greater success
IRVINE, Calif., Feb. 22, 2023 /PRNewswire-PRWeb/ -- Tech Coast Angels (TCA) and the Octane LaunchPad SBDC (Small Business Development Center) have established a new joint program, called Orange County Healthcare Innovation Table (OC HiT).
The joint program, referred to as Medical Mondays, was created to advance the development, implementation, funding, and commercialization efforts of healthcare startups, primarily in Orange County and Southern California. This collaboration aims to support and guide startups in being better positioned scientifically, technically, clinically, and financially to enter the marketplace.
OC HiT is collaborating with two renowned healthcare systems: CHOC Children's Hospital of Orange County (CHOC) through its Research Institute and Hoag, which provide expertise and support for clinical development process.
Consultants at Octane's LaunchPad SBDC, together with TCA, Hoag and CHOC, assess and validate startups' technologies and commercialization roadmaps to more quickly secure funding and clinical adoption.
OC HiT Medical Mondays were successfully piloted in 2022, engaging 80 startups. The program resulted in 30 startups being matched and introduced to a clinical or hospital partner; seven startups were offered clinical collaborations, and 22 were invited to apply to at least one of the TCA networks.
Ideal candidates for Medical Mondays will have an established team, are beyond the ideation stage, and are either working on or have completed a proof of concept or early animal trials. The program will be fluid and adapt to each startup's particular needs and circumstances. Candidates may be from outside of California and the U.S., although these candidates should have plans for a U.S. operation, ideally in or planned to be in the Southern California region.
The LaunchPad SBDC team will review start-up applications, pre-qualify them for joint reviews, and provide LaunchPad SBDC consultants to help with business strategy, planning, operations, funding, and development of a pitch deck if a startup doesn't currently have one. Startups also will have the option to participate in Octane programs and conferences.
The Hoag and CHOC team will provide feedback by assessing the clinical problem and need, prototype application and requirements as well as regulatory strategy. The team's goal is to ensure that startup innovations are attractive to hospitals and physician groups as future customers. The team will be able to potentially engage Hoag and CHOC resources, research and clinicians who can serve as subject matter experts.
The TCA team will focus on investability and also be available to review applications submitted by the company as well as potentially be a source of funding through one of the TCA networks. TCA experts may advise on the technology, market size, share, growth, and financial projections.
For more information or to participate, please contact Laura Beken, [email protected]
About TCA
Since its inception in 1997, Tech Coast Angels (TCA) has invested more than $261 million in more than 520 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. The Tech Coast Angels network includes TCA Los Angeles, TCA Orange County, TCA Inland Empire, and licensees including Pasadena Angels and MEDA Angels. One of the largest and most active angel investor groups in the nation, TCA and its affiliate member networks include more than 400 members, and are a leading source of funding for seed-stage and early-stage companies. TCA members are founders and business leaders, all of whom are accredited investors with extensive knowledge in the investment process and world-class business practices. That real-world experience allows TCA members to provide companies with benefits beyond capital: counsel, mentoring, and access to an extensive network of investors and other resources. http://www.techcoastangels.com
About LaunchPad SBDC
LaunchPad SBDC is a non-profit and grant-funded late-seed/early VC business startup accelerator focusing on tech, medtech, aesthetic innovation, ophthalmology, cardiology and climate tech. Startups work with LaunchPad SBDC consultants to develop and accelerate their capital funding strategy
About Hoag R&D
At Hoag, the Center for Research and Education is conducting several hundred clinical trials with governmental (e.g., NIH) and biotech industry sponsors, including Phase 1 cancer and Alzheimers therapeutics. Early stage companies in the pharma, device, software, and AI space find Hoag's clinical research and development capabilities a seamless and highly efficient way of translating new technology to the clinical bedside stage. Hoag understands the critical importance in allowing our community's patients access to the most novel therapies once safety is assured through the FDA approval process, and then documenting the efficacy of such innovation in a real world clinical setting, where continuous improvement of such advancements can occur to benefit all of healthcare.
About Hoag
Hoag is a nonprofit, regional health care delivery system in Orange County, California. Delivering world-class, comprehensive, personalized care, Hoag consists of 1,800 top physicians, 15 urgent care facilities, 10 health & wellness centers, and two award-winning hospitals. Hoag offers a comprehensive blend of health care services that includes six institutes providing specialized services in the following areas: cancer, digestive health, heart and vascular, neurosciences, women's health, and orthopedics through Hoag's affiliate, Hoag Orthopedic Institute, which consists of an orthopedic hospital and four ambulatory surgical centers. Hoag is the highest ranked hospital in Orange County by U.S. News & World Report and the only OC hospital ranked in the Top 10 in California, as well as a designated Magnet® hospital by the American Nurses Credentialing Center (ANCC). For more information, visit hoag.org.
About CHOC Research
At CHOC, we know that research saves lives. That's why our Research Institute has more than 500 research studies in more than 30 specialties to provide your child with access to leading-edge treatments. Our scientists translate the latest advances in molecular profiling, including whole genome sequencing, to meet the individual needs of our patients at every stage of their young lives —from infancy through adolescence. We conduct research directly with children and adolescents in a facility devoted exclusively to the care, quality of life, rights, and safety of children of all ages.
About Children's Hospital of Orange County
Children's Hospital of Orange County (CHOC), a pediatric healthcare system based in Orange County, California, is committed to being a leading destination for children's health by providing exceptional and innovative care. CHOC's growing community includes two state-of-the-art hospitals in Orange and Mission Viejo and a regional network of primary and specialty care clinics serving children and families in four counties. CHOC offers several clinical programs of excellence providing the highest levels of care for the most serious pediatric illnesses and injuries, physical and mental. CHOC's research and innovation institutes are focused on translating real patient needs into real-world treatments so every child can live the healthiest and happiest life possible.
Media Contact
Laura Beken, Tech Coast Angels, 760-805-5040, [email protected]
Kimber Smith Fidler, Tech Coast Angels, 775 298 5260, [email protected]
SOURCE Tech Coast Angels
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