A South Carolina fund will back health tech startups working to improve rural health access in the state.
The Tech Catalyst Fund will provide funding to technology startups focused on improving rural health access.
According to the South Carolina Research Authority (SCRA), the fund is one of five initiatives within South Carolina’s Rural Health Transformation Program.
The programme is administered by the Centers for Medicare & Medicaid Services and the South Carolina Department of Health and Human Services.
Health and Human Services has contracted with SCRA to manage and administer the Tech Catalyst Fund.
Bill Kirkland, president and chief executive officer of SCRA, said: “Being selected by SCDHHS to help address chronic disease in our rural communities, both across South Carolina and throughout the nation, signifies our continued commitment to health technology innovation statewide.
“Over the past several years, we have witnessed remarkable innovation statewide, and we are confident this programme will serve as a vital catalyst in advancing the latest solutions to reduce chronic disease and ease the significant burden it places on our state.”
The funding will focus on the prevention and management of chronic diseases, while improving quality, affordability and access to care.
The Tech Catalyst Fund will provide non-dilutive funding to early-stage medical technology companies.
SCRA said the fund is intended to support the development and deployment of medical innovations for rural South Carolina communities facing growing healthcare challenges and rising costs.
“The Tech Catalyst Fund will drive the development and deployment of medical innovations, bringing meaningful change to those who need it most.”
The Rural Health Transformation Program is supported by the Centers for Medicare & Medicaid Services of the US Department of Health and Human Services.
It forms part of a financial assistance award totalling more than US$200m, with 100 per cent funded by CMS and HHS.
Further information on eligibility, application requirements, due dates, and frequently asked questions and answers is available through SCRA.
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