Define Ventures Shapes Future of AI in Healthcare with Fellows Program

Define Ventures, a prominent digital health venture capital fund, is spearheading an initiative to cultivate the next generation of healthcare AI leaders through its innovative AI Fellows program. This eight-week, no-cost program is designed to equip aspiring founders with the tools and knowledge necessary to navigate the complex healthcare landscape and successfully launch AI-driven startups.

Program Structure and Objectives

The AI Fellows program offers a comprehensive curriculum that goes beyond traditional startup accelerators. Participants receive invaluable insights into business strategy development, customer acquisition, and networking opportunities with C-suite executives from major healthcare companies. Guest speakers have included industry titans such as Bruce Broussard, former CEO of Humana, alongside commercial leaders with decades of experience in payer relations.

Karsten Vagner, Chief People Officer at Define Ventures, emphasizes the program's unique approach: "We want people to understand how commercial leaders have been successful or not, and what they've learned along the way." This practical knowledge is crucial for founders looking to make a significant impact in the healthcare AI space.

Tailored Healthcare Expertise

What sets the AI Fellows program apart is its focus on healthcare-specific challenges. The curriculum is customized based on the incoming cohort's interests, addressing various sectors within the healthcare market. Fellows gain exposure to knowledgeable executives and potential customers in their target areas, providing a realistic understanding of market needs and partnership dynamics.

Carolyn Magill, Venture Partner for pharma at Define Ventures and former Aetion CEO, highlights the program's emphasis on concrete tactics: "Taking the leap from understanding healthcare to launching and scaling a company is significant and difficult. Much of what the program does is help founders understand how to put one foot in front of the other and, tactically, understand how to put a strategy into practice."

Long-term Support and Community Building

Define Ventures' commitment to its fellows extends beyond the program's duration. Participants are welcomed into a supportive "family" with ongoing access to Define Ventures staff and fellow alumni. This network serves as a valuable resource for job opportunities, advice, and consulting services.

"We think about this as ongoing relationships," Vagner explains. "There's so many fellows programs out there that really just end up being about how to pitch a VC. Pitching investors before you even know what your company is and who it is for might not be as valuable. We saw a gap in the market there, and are just really glad to be able to fill it."

The Define Ventures community also plays a crucial role in talent acquisition, offering founders access to a diverse pool of professionals ranging from recent graduates to experienced C-suite executives.

As applications for the second cohort are being reviewed on a rolling basis, Define Ventures continues to solidify its position as a key player in shaping the future of AI in healthcare. With approximately $800 million in assets under management and a portfolio of over two dozen companies at various funding stages, the firm is well-positioned to drive innovation in this rapidly evolving sector.