ANN ARBOR, Mich., July 15, 2021 /PRNewswire/ -- The past year and half has shown how the healthcare industry needs impactful innovations. The new Pinkert Healthcare Accelerator at the Ross School of Business aims to support that innovation by helping students develop and launch their creative ideas for addressing major challenges in healthcare.

Managed in the Zell Lurie Institute at Michigan Ross, the Pinkert Healthcare Accelerator adds to the extensive world-class healthcare and entrepreneurial offerings available to Michigan Ross and University of Michigan students. The accelerator provides student teams with grant seed funding; expert mentorship from U-M faculty, staff, and alumni; and advising from a board of leaders in healthcare entrepreneurship and investing.

The new accelerator was created thanks to a dedicated fund included in a $5.4 million gift from Eleanor and Michael Pinkert, MBA '65/BSE '64. That gift also established the Pinkert Scholars Program, which provides full-ride scholarships for Michigan Ross Full-Time MBA students focused on healthcare. The accelerator is led by Faculty Director Mike Johnson, MD/MBA '11, and Program Director Anne Perigo, BBA '91.

"Thanks to this incredible gift from the Pinkerts, the Pinkert Healthcare Accelerator supports our amazing U-M student healthcare entrepreneurs working to solve big challenges and shows how Michigan Ross is leading in healthcare innovation," said Johnson, who is an Entrepreneur in Residence at the Zell Lurie Institute and lecturer in entrepreneurial studies at Michigan Ross. "Michigan Ross and U-M have a great set of entrepreneurial and healthcare offerings, and the accelerator is a unique opportunity for students starting innovative ventures."

High-impact solutions for major healthcare challenges

Any Michigan Ross or U-M student who has an impactful idea for solving a serious need in healthcare — from targeting diseases to increasing access and reducing the cost of care — can apply to the Pinkert Healthcare Accelerator. The accelerator will have two application cycles each year, with each cohort capped at around 15 ventures to start.

After a rigorous evaluation process, ventures are accepted into the accelerator across three stages:

• Vision: students are working to clearly understand the need and refine the value-creation hypothesis
• Test: students have identified the unmet need and hypothesis for differentiation/impact of their solution and work to gather market feedback and evaluate the business model
• Launch: students have developed a plan for value creation with milestones and are working to launch the business

"We are looking for students who are passionate about fixing healthcare," said Johnson. "That includes a variety of approaches with innovative technologies and care delivery models to address patient-care challenges in access, quality, and cost."

There were 13 student ventures accepted into the Pinkert Healthcare Accelerator's first cohort, which ran during the 2021 winter term. Among the healthcare solutions those ventures addressed were: transitional aid for postpartum parents to ensure a healthy postpartum environment; inventory management to provide hospitals with real-time data on medical supplies; and a product that replaces plastic prescription bottles with a 100% recyclable solution.

Besides the new healthcare accelerator and the Pinkert Scholars Program, Michigan Ross also offers a Healthcare Management Concentration for Full-Time MBA students; dual degrees with the U-M Medical School and U-M School of Public Health, and healthcare-focused student organizations, such as the Healthcare & Life Science Club.

About Michigan Ross
The Stephen M. Ross School of Business at the University of Michigan is a diverse learning community grounded in the principle that business can be an extraordinary vehicle for positive change in today's dynamic global economy. The Ross School of Business mission is to build a better world through business. Through thought and action, members of the Ross community drive change and innovation that improves business and society.

Michigan Ross is consistently ranked among the world's leading business schools. Academic degree programs include the Bachelor of Business Administration, Full-Time MBA, Part-Time MBA (Evening, Online, and Weekend formats), Executive MBA, Global MBA, Master of Accounting, Master of Business Analytics, Master of Management, Master of Supply Chain Management, and PhD. In addition, the school delivers open-enrollment and custom executive education programs targeting general management, leadership development, and strategic human resource management. For more information, visit MichiganRoss.umich.edu.

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SOURCE University of Michigan Ross School of Business