A new residency-venture program is addressing a critical issue in the U.S. — healthcare. Mary Minno, an investor and former Google product manager, announced the launch of Treehub, an early-stage startup accelerator, and AI Health Fund, a venture firm supporting startups at the healthcare and AI intersection. AI Health Fund serves as the venture partner of Treehub, where founders can incubate their ideas.
The six-month residency program dedicates the first half to product-market fit and the latter half to company strategy, which could include fundraising, joining an accelerator, or expanding within a hospital network. Minno conceived the program last year during a personal health crisis in her family. She observed challenges in finding timely specialist care and noticed the role of outdated technology and policies in delaying treatment.
Collaborating with Esther Wojcicki, Minno developed a plan to foster innovation in healthcare and help academics commercialize their research. The initiative involves teaming scholarly founders with experienced operators. The AI Health Fund, involving a biomedical team from Stanford, aims to invest $50,000 to $150,000 in startups, targeting academic-originated ventures. It has already closed its first $1.5 million, including significant contributions such as one from VC Tim Draper.
The fund aims to support at least 60 startups, including those outside the Treehub program. It has invested in 12 companies so far, such as Clair Health and Dennis Walls’ new pediatric autism venture. The residency is in a trial phase, exploring effective models for the accelerator-fund hybrid approach. The residency values early-stage collaboration, assisting in incorporation and problem-solving.
Minno emphasizes that Treehub customizes support to founder needs, forgoing a demo day since companies develop at varied paces. They’re assessing the residency’s scalability and intend to expand nationally. The emphasis is on maximizing company success, with a vision of significantly growing the initiative after several cycles.