7 health IT startups fast-tracked
July 23, 2014 in Medical Technology
Seven health IT startups have landed a spot in the 2014 New York Health Accelerator. The accelerator, a program run by the New York eHealth Collaborative and the Partnership Fund for New York City, selects growth-stage digital health companies developing cutting-edge technology products for healthcare providers and patients in the areas of care coordination, patient engagement, predictive analytics and workflow management.
“We have selected seven early- and growth-stage digital health companies that will be put on a fast track for building a successful business providing technology solutions to the healthcare industry that will ultimately reduce health costs and improve patient outcomes,” said Maria Gotsch, president and CEO of the Partnership Fund for New York City, in a statement. “The 2014 class was selected through a competitive process from a pool of more than 100 applicants by the senior technology and innovation executives of the state’s 23 leading healthcare systems.”
During the four-month program, participating start-ups will work closely with senior-level executives to fine-tune and develop their technologies and business strategies through direct mentorship as well as a series of workshops, panel discussions, user-group sessions, networking opportunities, one-on-one meetings and presentations. Each startup will receive on average $100,000 in capital investment.
“The New York Digital Health Accelerator has been instrumental in stimulating health IT innovation in New York,” said David Whitlinger, executive director of NYeC, in a news release. “The NYDHA looks forward to helping spur innovation through access to the Statewide Health Information Network of New York and by providing New York’s most promising healthcare entrepreneurs with the financial and professional support they need to truly succeed.”
[See also: New York ready for Round 2 startups.]
The program has shown strong success. In its first year, the class has raised $21 million in additional capital and created 120 new jobs in New York City. Two of these startups, Avado and Remedy Systems, were acquired within six months of graduating.
A list of the seven startups selected is on the next page.