Trend Week: A Fresh Approach to Engaging Health Innovation Stakeholders

Talk about a powerhouse week. From welcoming a new Capital Readiness cohort and diving deep into investor-founder connections, to big-picture trendspotting, the first week of April was a full-spectrum example of how we mobilize our network to advance healthcare innovation and build, support, and grow companies with purpose.

March 31 to April 4 was the fourth iteration of what we call a Science Center Trend Week, an immersive series that brings together influential thought leaders, innovators, and industry experts for deeply curated conversations, idea exchanges, and networking. Thought leaders are convened for curated think tank panels and salon-style dinners – sparking bold ideas and candid conversations around the power and potential of healthcare innovation.

The week was centered around the challenges and opportunities of harnessing technology to promote greater accessibility in healthcare. At every turn, one theme rang clear: relationships drive results. Here’s what unfolded.

Monday: The Day Begins with 10 Startups

Ten startups arrived in Philadelphia for the Capital Readiness Program (CRP) – some local, and some from as far away as Ontario, Canada and San Franscisco, CA. They’re in Philadelphia for 5 days packed with invaluable perspectives, lessons in leadership, and insights into scaling a business.

It all kicks off with a Think Tank.

The CRP founders, still blissfully unaware of the intensity of the week ahead, converged with other stakeholders in the healthcare ecosystem Monday evening for cocktails and hors d’oeuvres before for the Think Tank. Conversations bloomed. Representatives of Jefferson University and Jefferson Ventures chatted with the startups. Business cards were exchanged. Dozens of similar connections played out across the group, underscoring the fact that the evening’s purpose rotated around a shared experience.

The startups began connecting to each other, as well. The Capital Readiness Program encourages founders to see each other as resources rather than competition – a maxim that often flies in the face of the dog-eat-dog ethos that pitch competitions and other entrepreneurial setups often encourage.

Gemma Lowery, Technology Manager of Digital Solutions at ChristianaCare, Matt Swanson, the Founder and CEO of Reciprocity Health, Tom Thornton, VP of Jefferson Ventures at Jefferson Health, and moderator Tiffany Wilson – President and CEO of the Science Center – sat down to discuss the challenges and opportunities of harnessing technology to promote greater accessibility.

  • Healthcare Innovation for All Think Tank

It became clear that building healthy partnerships are essential as the experts hashed out everything from the market’s current challenges, to the limitations of artificial intelligence.

“With so much innovation, technology, and change taking place, making sure that we are helping those most in need must remain top of mind,” noted Gemma, praising the event’s esprit de corps. “Technological advancements need to put the patient partners we all serve front and center as recipients of these efforts.”

Tuesday: A Candid Exchange of Ideas

Tuesday’s salon dinner brought together roughly 20 leaders representing healthcare stakeholders including payers, industry, clinicians, hospitals, point of care, and regulatory. All the attendees were invited to the table for meaningful, actionable, and open dialogue on the future of healthcare.

The salon dinners are intimate, invitation-only gatherings where thought leaders dine together in a relaxed setting, enabling organic discussions around key trends and forward-thinking concepts.

Wednesday: Connections That Count

Wednesday is always a popular day for CRP participants because they get a chance to connect 1-on-1 with sought-after, but often difficult to reach customers including payers and providers while receiving targeted feedback about their company. The day’s activities took place at Cozen O’Connor, a consistent source of knowledge for the companies during CRP week. After a morning jam-packed with information and presentations, the group segues into “speed networking” and mentor office hours with everyone from Independence Blue Cross to Virtua Health.

Thursday: A Toast to Creating Regional Opportunities

“Food is an equalizer. It brings people together," Food Network chef Gabriele Bertaccini once said, and the Science Center made sure to embrace this philosophy during Trend Week.

Company and conversation energized the room during Thursday’s Capital Trends Dinner, sponsored by Silicon Valley Bank Catalyst 2045. This event brought together investors from across the country, startups from CRP Cohort 7, Investors-in-Residence, representatives from Silicon Bank, and two distinguished alumni companies – Oatmeal Health and SweetBio, Inc.

The relaxed nature of the dinner encouraged startups and investors to strike up conversations and thread the needle on creating networks within the shared ecosystem.

“I’ve been meeting a lot of people from different backgrounds, even the speakers, they all have their own expertise. Every hour there’s a new topic, and my mind is just full of – I need to do this, this is something new I’ve learned,” explains D. Sole Innovation Strategist Nisarg Doshi. “Speaking with them and the other founders, there were a lot of viewpoints and different avenues that we realized we could explore.”

Anton Xavier and Tom Gordon presented findings from Silicon Valley Bank’s latest State of the Markets report; then the Capital Readiness alumni spoke about their continued growth since participating in the program.

The newest component of Science Center Trend Weeks, the Capital Trends Dinner is an opportunity to strengthen our commitment to attracting and retaining capital in the region, and create valuable opportunities for investors and startups alike.

Bridging the Knowledge Gap

Connecting with investors and raising the first round of institutional capital has always been at the heart of the Capital Readiness Program – but what does it take to be a good investor? Too often, angels enter the space with little working knowledge of startup health. This can lead to a lot of blunders if one hasn’t been shown the ropes – AKA what to look for, how to evaluate risk, and how to add value beyond the check.

That leaves an information gap – where potential investors may be interested in entering the space and supporting world-changing technologies, but may not have the know-how to avoid a doomed company that will never leave the runway.

The Capital Trends Dinner served up an important announcement: the Science Center is aiming to close that gap with a new program.

Bringing the journey full circle, the Science Center launched an Angel Investor Training in partnership with ClassRebel to help cultivate the next generation of angel investors – and ensure they know the fundamentals. These classes take place over four evenings and are open to qualified investors

"By bridging the knowledge gap, this program equips a new generation of angels with the tools to make smart, impactful investments in innovation,” explains Eli Velasquez, Capital Advisor to the Science Center.

Friday: Completing the Circle – Innovation Starts Here

Throughout the week, CRP companies talked through the nitty-gritty of startup life – market validation, developing a deal room, regulatory pathways, etc. The program’s emphasis on sharing the experience – and helping each other out – reiterates a fundamental truth of the life science and healthcare space: no breakthroughs happen in a vacuum.

But it’s easy to see the trees and miss the forest sometimes when founders are just pushing to get through each week successfully, which is why a trip upstairs to the FirstHand™ lab was as illuminating as it was visceral.

FirstHand offers year-round STEM learning for middle school and high school students, providing skills-based career exposure. It’s an important component of accessibility – allowing students from local Philadelphia public schools to see how they could be a part the life science community, and have a successful career in the sciences if they choose to.

It was there that the CRP founders and Investors-in-Residence participated in FirstHand’s Biotech Sprint Showcase. High school students had worked with mentors from ThermoFisher Scientific to create a sales pitch for an instrument, supply, or reagent that they used during the semester. Attendees, including the founders, received $500 in FirstHand currency to “vote” for their favorite innovations.

Founders and investors were delighted to see young minds experimenting with the “what if’s” and taking a fresh approach to life science, and the students were excited to showcase their knowledge. It was a timely reminder that innovation starts with curiosity – and thrives on community.

Harnessing What We Have to Reshape the Future

Our latest Trend Week showcased what happens when innovation, access, and collaboration converge. From aspiring students to seasoned investors, everyone left reminded that progress is a team effort. Although the headwinds of tomorrow can sometimes seem uncertain, an essential truth was uncovered this week: innovation has the power to transform lives, so long as the right people come together to make it happen.