Last fall, the nonprofit Creative Destruction Lab (CDL) launched its first risk management stream in partnership with the University of Wisconsin-Madison. This fall, it is launching a second Madison-based accelerator program, aimed at startup founders working on scientific and technological innovations that improve human health and wellness. Startups interested in participating in either of the 2021-22 program streams have until July 30 to apply.
CDL’s health stream helps scalable, seed-stage companies bring their health innovations to market through the advice and guidance of accomplished entrepreneurs and experienced operators, doctors, scientists, engineers and investors in life sciences. CDL hosts weekly webinars for startups interested in learning more about the program.
Startups accepted into both the risk management and health streams attend five day-long sessions between October and June where they will be mentored by experienced entrepreneurs and technology experts and have access to business development support from students in the UW-Madison master’s degree program in business administration.
CDL also works to connects participants with interested angel investors and leading venture capital firms. There is no cost to participate, and CDL does not take any equity in the participating startups.
CDL’s risk management stream leverages the knowledge and technical expertise found at UW-Madison’s top-ranked risk and insurance program and also with American Family Insurance to nurture entrepreneurs working on tech-based solutions for identifying, assessing, preventing, mitigating and transferring risk.
Toronto-based CDL runs several entrepreneurship programs across Canada, the U.S., England and France, focused on industries ranging from agriculture to quantum computing. It recognizes that while early-stage venture capital tends to be concentrated on the coasts, scientific breakthroughs are not.