Company Profile
The Innovation Institute
Company Overview
The Innovation Institute
Company Structure
For-Profit LLC, owned by health system investors, and partnered with technology firms and private-sector investors. The Institute has three (3) elements: an ideation and technology acceleration Lab, an equity Fund, and a group of separate business units existing within the Institute structure.
Employees & Location
The Innovation Institute’s central office is located in La Palma, CA. Teams from our EDG business units – (1) Tech Knowledge Associates and (2) Petra Integrated Construction Strategies – are also located in hospitals across California and in Texas. Destination locations in southern CA are being evaluated as part of the site selection for our Innovation Lab.
Company History
Innovation can often lead to increased costs, especially in healthcare, where many organizations have “looked at need, but been blind to cost” (Paul Yock, MD, Stanford). Even among the affluent, these growing costs are simply unsustainable.
It is for this reason we must apply innovative thinking to significantly reduce costs while maintaining high quality care. We must continue serving existing communities, but increase the number of people we serve, and serve them all more effectively. This is the premise of an influential, newer movement known as ‘Gandhian Innovation’.
Our Mission: To cultivate innovative solutions in collaboration with others, transforming healthcare by doing more, with less, for more people.”
What do we mean by “doing more, with less, for more people”?
•Do more / Our mission is about creating new value for individuals and communities across the health spectrum from illness to wellness.
•With less / Our mission requires being more mindful of limited resources in an era of unsustainable costs, and finding more efficient ways of delivering quality care.
•For more people / Our mission broadens our capability to sustainably aid and care not just for those who have access to resources, but for those most in need—and least served.
Our Vision, directly complementing our Mission, is to become a significant and successful vehicle for growth and innovation for our investment partners and founders, whose support makes our work possible.