What else would you think? Why would they not stay in Chicago? When you see those orange tablets sitting in doctors offices, those are funded by the Blues Venture Capital arm. Who would have ever thought health insurance companies would turn into VC. Look what happened here as Wellpoint buys a company from their own Venture Capital company.
WellPoint & Partners Buy Bloom Private Health Insurance Exchange From Their Own Venture Capital Company (Sandbox) –Subsidiary Watch
The only reason I see health insurance companies wanting an incubator is to make money and by the way Blue Cross was down a little the first quarter and membership too as United Healthcare seems to beating them over the head with their aggressive marketing efforts and in some states Blue Cross and United are at odds right now over government insurance administration contracts. BD
Sandbox Industries, with its internally focused startup incubator, is opening its doors in San Francisco.
The Chicago-based venture firm that manages an $18.8 million vintage 2008 seed fund will unveil on Tuesday plans for a West Coast “startup foundry” in the trendy South of Market neighborhood of the city.