CareQuest Innovation Partners, a company focused on validating and helping transformative solutions to improve oral health, in collaboration with MATTER, the main health care incubator and innovation center, recently announced the selection of startups for the third year of the SMILE Health program.
The crisis in oral health care in the United States. The United States is aggravated due to a historic lack of investment in this industry. Oral diseases cost $710 billion in treatment costs and productivity losses worldwide each year. However, in the United States, dental startups raised less than $200 million in 2023, in contrast to the almost $17 billion raised by health care startups in the same period, according to a Crunchbase analysis. Through SMILE Health, CareQuest Innovation Partners is currently activating a growing ecosystem of partners to accelerate investment and innovation, advance equity in oral health and promote solutions that integrate dental and medical care.
Six startups were selected from an impressive group of applicants from 11 countries and 27 U.S. states. UU. Covering a range of technologies that address key areas of the program, the selected solutions deepen the connections between oral health and the broader health care system, from innovative preventive therapies to telehealth and integrated health services that meet consumers at home, clinics and online. The selected companies are DentKits, DifferentKind, Oraliva, ThriveLink, Umayana and Yumlish.
“We are delighted with the high caliber of the startups participating in the SMILE Health program, promoting integrated health,” said Katie D’Amico, vice president of growth and innovation at CareQuest Innovation Partners. “This year’s innovative startups, along with our leading partners in the industry, are redefining how we take care of oral health, and igniting the innovation ecosystem to drive better results for everyone.”
During the 12-week program, startups will pair with industry partners aligned with the mission, including Cigna Healthcare; Colgate-Palmolive Company; DentaQuest, part of SunLife U.S.; and Henry Schein, among others, to validate their solutions in line with the specific tracks of the program. The selected startups will receive access to multidisciplinary experts in oral health medical care, mentors, curriculum and commercial knowledge.
The program culminates on October 22, 2024 with a demonstration day at the HLTH conference in Las Vegas. SMILE Health startups will present their solutions at the start-up stage to a variety of health care leaders, including potential investors, partners and customers. After the completion of the program, startups will have access to the resources of MATTER and CareQuest Innovation Partners, including the opportunity to apply for the ACCELERATE program of CareQuest Innovation Partners, which provides incremental funding for greater collaboration with partners in industry advancement projects.
“SMILE Health creates unique opportunities for startups to accelerate their development and for major institutional actors to explore and test emerging solutions,” said Steven Collens, CEO of MATTER. “We appreciate the opportunity to work with CareQuest Innovation Partners and outstanding entrepreneurs to help shape a brighter and more connected oral health care future.”
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