ATLANTA, June 03, 2022 (GLOBE NEWSWIRE) — Employer Health Innovation Roundtable (EHIR), a private community focused on accelerating healthcare innovation by connecting progressive Fortune 500 benefits leaders with cutting-edge digital health solutions, and Magnify Ventures, a pioneering technology-focused venture capitalist in the care economy, today announced the launch of its second Care Economy & Family Technology Academy, a program designed to accelerate emerging solutions meeting the needs of the modern family.
Together, the partnership is focused on building and accelerating a growing network of innovative early-stage companies that are solving gaps in the growing $648 billion care economy. Building on lessons learned and growing employer interest in new solutions in areas such as childcare benefits, household management tools and caregiver support, the EHIR Academy will combine advice personalized content, expert-led content, and unparalleled exposure to the incredible work of nine hand-selected individuals. teams.
For millions of Americans and employers, the pandemic has exacerbated a costly and ongoing caregiving crisis. Working parents quit their jobs as childcare options dwindled and remote schooling dragged on, underscoring long-standing caregiving challenges for working families. The demands were even higher for the millions of “sandwich generation” caring for both children and aging parents.
As employers now grapple with the great resignation, scramble to fill vacancies, and navigate a changing job market, they continue to diversify and deepen care-related solutions that can help attract and retain talent while boosting productivity and reducing overall healthcare costs.
Family caregiving continues to be a key challenge and opportunity for the American workforce:
- Caregivers make up a large portion of the U.S. workforce: It is estimated that one in five workers is an active family carer. In the United States, millions of workers belong to the sandwich generation – caring for both a child and an aging family member.
- Caregiving challenges cost employers billions each year: Experts estimate that a total of $25 billion is lost in productivity each year due to caregiving challenges, even before the pandemic. Nearly a third of all caregivers have voluntarily left a job at some point in their career due to their caregiving responsibilities.
- Care-saving solutions can help attract top talent: Generational and cultural shifts in today’s workforce make caregiving benefits an increasingly important tool for attracting talent. For example, 69% of women with children under 5 would be more likely to choose an employer who offers on-site childcare or benefits to help pay for childcare.
“Employers today are investing in solutions to address employee care challenges, whether caring for children, aging family members or people with disabilities,” said Julie Wroblewski, Managing Partner at Magnify Ventures. “Technology-driven solutions that can scale quickly represent a great opportunity for employers to do so effectively while attracting talent, improving productivity and boosting retention. We are proud to continue our partnership with EHIR Academy to bring highlight a diverse range of emerging healthcare solutions for the employer market.”
This year’s list from the EHIR Academy includes 10 of the most innovative emerging solutions in the care economy and family technology space. For early-stage, technology-driven companies focused on emerging family care delivery and benefits solutions. The Academy offers them an unparalleled opportunity to develop their offer in collaboration with leading players in the sector.
“Our Academy partnership with EHIR has proven to be an incredible unlock for entrepreneurs creating technology solutions to solve huge market opportunities in delivering reliable, quality care to working parents and caregivers,” said said Joanna Drake, managing partner at Magnify Ventures. “As a pioneer in venture capital stewardship of family-owned technology innovation, we are expecting proud investors from participants MiSalud, Cocoon and, most recently, Kinside.”
Other previous EHIR Academy graduates include companies at the forefront of innovation in their respective spaces, such as Vivvi and Joshin.
“The EHIR program condenses years of business selling wisdom into one week of content. I wish I had been a part of it earlier in my business journey so I could have incorporated the learnings into my strategy from the start. “said Brittney Barrett, Co-Founder and CMO at Kinside.
“We’re proud to partner with organizations like Magnify Ventures to accelerate cutting-edge innovation solutions in areas of emerging healthcare needs,” said Michael Laquere, CEO, Employer Health Innovation Roundtable. . “We’ve built a comprehensive ecosystem of partners and innovators that cuts through the noise to accelerate innovation adoption and drive impact through action.”
For more information about EHIR Academy or Magnify Ventures, please contact us at EHIR@ehir.com
The Employer Health Innovation Roundtable (EHIR), a brand of the World 50, is a coalition of the largest and most progressive employers and regional health plans collectively representing more than 10 million lives. Our mission is to accelerate the adoption of innovation and drive impact through action. We do this by matching the largest and most progressive employers, regional health plans and healthcare providers with the most compelling digital healthcare startups (“innovators”). We hold semi-annual roundtables (spring and fall) to share learnings among our members and collectively examine the most promising emerging health and wellness solutions. Through our collaborative model, EHIR has been providing a streamlined innovation process and valuable insights to leading employers and health plans for over 8 years.
About Magnify Ventures:
Magnify Ventures is a pioneering venture capital firm investing in visionary entrepreneurs leading the digital transformation of the way we live, work and care for each other. The company was founded by Julie Wroblewski, an investor and advisor to institutional-level family offices and mission-driven organizations, and Joanna Drake, a serial company builder and venture capitalist. Magnify Ventures, anchored by Pivotal Ventures, a Melinda French Gates company, invests in early-stage technology companies that are revolutionizing the care economy, including parenting and family life, the future of work, optimizing household, aging and longevity. Magnify Ventures is headquartered in Los Angeles and co-locates in San Francisco. For more information visit www.magnify.vc
Sam Yapp Wolfe
Vice President of Marketing, Events and Partnerships
Image 1: EHIR Academy sponsored by Magnify
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EHIR Academy sponsored by Magnify