Philadelphia is getting its second health IT accelerator.
The University City Science Center is launching the Digital Health Accelerator, a six- to eight-month program to help health IT companies grow, according to a release.
The program is geared toward companies that already have some sort of “financial maturity,” either through revenue or investment, said spokeswoman Kristen Fitch. DreamIt Ventures launched an early-stage health IT accelerator last year.
The news comes on the heels of Independence Blue Cross announcing that it’s investing $50 million in local innovative health companies, as well as launching a health IT center in Center City.
Get more info and an application by emailing Aron Starosta at dha AT sciencecenter.org. Apply by March 31.
Each company will receive up to $50,000 through the program, funded in part by the state. Unlike DreamIt Health, The Science Center will not take any equity in the companies, Fitch said.
Aside from funding, the program will provide mentorship, office space at the Science Center and introductions to potential local customers and partners.
The Science Center hosted a health IT accelerator last year for Canadian companies looking to break into the U.S. market.
What’s all this mean? It sure looks like the region is finding its strength: health IT following the region’s roots in life sciences, something entrepreneur Paul Martino has advocated for.