C1 Innovation Lab, Blue Cross and Blue Shield of Texas, Enter Collaboration with Capital Factory

New Startup Community Partnership to Benefit Customers and Members

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Jun 21, 2021, 12:30 ET

RICHARDSON, Texas, June 21, 2021 /PRNewswire/ -- The C1 Innovation Lab®, in partnership with Blue Cross and Blue Shield of Texas (BCBSTX), has entered into a collaboration with Capital Factory to bring the best emerging new health and technology solutions to BCBSTX members and customers.

This new collaboration makes BCBSTX the first health care plan member of the Capital Factory Innovation Council, which connects the world's leading organizations with the most innovative startups and technology in Texas. The C1 Innovation Lab and Capital Factory will collaborate with promising Texas entrepreneurs in the health care arena to explore, address and pilot solutions that serve BCBSTX members, customers and our community.

Austin-based Capital Factory is Texas' largest startup accelerator and its most active, early-stage investor. The C1 Innovation Lab, based in downtown Dallas, serves as BCBSTX's primary hub for collaboration, incubation and development of new products and services.

"In this ever-evolving digital age, it is vital for us to help drive efforts to develop new products and solutions that will improve health outcomes and quality of care across the entire health value chain," said BCBSTX President James Springfield. "Startups in Texas are doing important work around coordinated health care and the use of technology to solve complex health care challenges, and we want to be a part of these innovative efforts."

Being a member of the Capital Factory Innovation Council will help further the C1 Innovation Lab's mission to bring together businesses, providers, health care specialists, customer care representatives and innovators to develop forward-thinking solutions that lower health care costs while improving health outcomes.

"This collaboration will provide us opportunities to engage with new technologies and entrepreneurs on the cutting edge of health care innovation that can help us guide how we interact with customers at all stages of health," said Summer Wright Collins, BCBSTX Associate Vice President, Design and Innovation, who leads the C1 Innovation Lab. "By participating in this process, we are seeking to contribute to our growth by creating innovative, competitive market offerings."

The C1 Innovation Lab will interact with numerous startups and collaborate with corporate, government and academic innovators through meetings, roundtables and innovation summits.

"The Capital Factory Innovation Council bridges the gap between the world's biggest organizations and the best startups in Texas, across a broad range of industries. Blue Cross Blue Shield of Texas' membership boldly enhances our already strong health-focused community and empowers Texas startups, investors, and other Innovation Council members to realize more," said Jacques Vroom III, Vice President of Corporate Strategy, Capital Factory.

About the C1 Innovation Lab:
C1 Innovation Lab serves as Health Care Services Corporation's (HCSC) primary hub for collaboration, incubation and development of new products and services. HCSC is the nation's largest customer-owned health insurer and operator of Blue Cross and Blue Shield health plans in Illinois, Montana, New Mexico, Oklahoma and Texas.

About Blue Cross and Blue Shield of Texas (BCBSTX):
Blue Cross and Blue Shield of Texas (BCBSTX) – the only statewide, customer-owned health insurer in Texas – is the largest provider of health benefits in the state, working with nearly 80,000 physicians and healthcare practitioners, and 500 hospitals to serve more than 5 million members in all 254 counties. BCBSTX is a Division of Health Care Service Corporation (HCSC) (which operates Blue Cross and Blue Shield plans in Texas, Illinois, Montana, Oklahoma and New Mexico), the country's largest customer-owned health insurer, and fourth-largest health insurer overall. Health Care Service Corporation is a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association.

BCBSTX.com | Twitter.com/BCBSTX | Facebook.com/BlueCrossBlueShieldOfTexas | YouTube.com/BCBSTX Community Highlights

About Capital Factory:
Capital Factory is the center of gravity for entrepreneurs in Texas, the number one state for startups in the U.S. Thousands of entrepreneurs, programmers, and designers gather day and night, in-person and online for meetups, classes, and coworking. With boots on the ground in Austin, Dallas, Houston, and San Antonio, we meet the best entrepreneurs in Texas and introduce them to investors, employees, mentors, and customers. According to Pitchbook, Capital Factory has been the most active, early-stage investor in Texas since 2010.

SOURCE Blue Cross and Blue Shield of Texas