PALO ALTO, CA -- (Marketwired) -- 04/18/13 -- Venrock, a pioneering venture capital firm established in 1969 by the Rockefeller family, today announced that the firm will present an award, including seed funding, to the winner of the Innovation Showdown early stage category at VentureBeat's HealthBeat Conference. The conference will take place May 20-21, 2013 in San Francisco. To apply to the competition, complete the application on the HealthBeat website (http://venturebeat.com/events/healthbeat2013/innovation-competition/).
Venrock's "Health IT Disruptor Award" consists of:
- $250,000 convertible note
- Dinner with Venrock partners and portfolio company CEOs leading the health IT revolution
- Six months of office space in The Quarry, Venrock's incubator space in Palo Alto
The winner will also receive VentureBeat editorial coverage, two months press relations support from Amplify Public Affairs, and one hour of coaching with investors and/or relevant potential customers.
"Our healthcare system is ripe for disruption. Its sheer scale and massive inefficiency, combined with the very recent seismic changes in both information and incentives for all parties in the ecosystem -- patients, providers, health plans, employer funders, and suppliers -- have created very exciting opportunities for entrepreneurs," said Bryan Roberts, Partner at Venrock. "Venrock has been investing in the space for over a decade and as a team -- Brian Ascher, Bob Kocher and myself -- we have never been more optimistic or inspired."
Venrock's health IT franchise is unrivaled in the industry. The firm's history in the sector goes back the late 1990's and investments in athenahealth (IPO), RelayHealth (acquired by McKesson), and Neoforma (IPO). Since then, the firm made successful investments in CodeRyte (acquired by 3M) and Vocera (IPO) and currently manages a burgeoning portfolio of private companies, which includes Castlight Health, Awarepoint, Kyruus and several stealth companies.
Venrock is a leading venture capital firm with offices in Palo Alto, CA; New York, NY; and Cambridge, MA. Originally established as the venture capital arm of the Rockefeller family, Venrock continues an eight-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. With a primary focus on technology, healthcare, and energy, portfolio companies have included Adify, Adnexus Therapeutics, Apple Computer, Athenahealth, Centocor, Check Point Software, DoubleClick, Gilead Sciences, Idec Pharmaceuticals, Illumina, Intel, Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vontu. For more information, please visit Venrock's website at www.venrock.com and follow the firm on Twitter at @venrock.