The Innovation Institute is a collaborative of seven nonprofit health system “Member Owners,” including Bon Secours Health System. The organization is focused on innovation and growth for the health care industry. Its purpose is to promote transformational change to the care delivery system through incubation of new ideas, concepts and products.
The Institute is structured as an independent, for-profit LLC composed of three distinct elements: the Innovation Lab, the Enterprise Development Group and the Growth Fund.
The Innovation Lab is an incubator, taking ideas from the concept stage to prototypes to end products. The Lab taps into the innovative potential of health care’s internal workforce, employees, physicians and business partners. Technology underwriters support the Lab with expertise and funding.
The Enterprise Development Group is the economic engine for The Innovation Institute. It is a portfolio of health care-related companies providing services to the seven Member Owners and other health care providers. The Enterprise Development Group generates cash flow and profits to the Institute in support of innovation.
The Growth Fund raises capital from private investors to fund mid- to late-stage companies in the health care sector. The Growth Fund generates financial returns to its investors and provides market intelligence back to Member Owners.
For more information, visit ii4change.com.