Building upon its commitment to strengthen Pennsylvania’s robust life sciences industry, the Corbett administration today announced the award of a Discovered in PA – Developed in PA grant to help launch the University City Science Center’s Digital Health Accelerator program, a new initiative designed to spur new business and technology development in the field of digital health. “The innovative program we are supporting today will help identify locally grown concepts that will eventually evolve into new business start-ups, providing them with the resources they need to grow here and hire new employees,” said Department of Community and Economic Development Secretary C. Alan Walker. “Under Governor Corbett’s leadership, Pennsylvania continues to serve as a national leader in unlocking the best of what the life sciences industry has to offer.” The University City Science Center, located in Philadelphia, will receive a $500,000 Discovered in PA – Developed in PA (D2PA) grant to help launch the Digital Health Accelerator program, an initiative to provide resources, expertise and early stage funding to new innovative technologies within the digital health field. The program will match domain-expert entrepreneurs with high-potential technologies being researched and developed at Southeastern Pennsylvania colleges, universities, and businesses. Funding and assistance from the Digital Health Accelerator program is expected to help high potential technologies evolve into new companies focused on digital health products and services resulting in new business growth in the state. “By supporting initiatives that stimulate growth within the industry – from helping entrepreneurs quickly transform ideas into commercial products to supporting the establishment and expansion of biotech companies – Governor Corbett is ensuring the biotech economy will continue to grow in Pennsylvania,” Walker said. The University City Science Center will recruit leaders in industry and/or the investment community to provide guidance to individual projects. “The digital health sector has great potential as it builds upon Greater Philadelphia’s strength as an ‘eds and meds’ powerhouse,” says University City Science Center President & CEO Stephen S. Tang, Ph.D., MBA. “We welcome this support from D2PA and look forward to partnering with the commonwealth to strengthen Greater Philadelphia’s position as a destination for digital health innovation.” D2PA was established by the Corbett administration in 2011 to better support Pennsylvania businesses and to spur creativity and innovation in economic development services. D2PA funds are used to promote entrepreneurship, encourage technology transfer, build capacity for regional economic development, and proactively reach out to and help businesses.Celebrating 50 years of operation this year, the University City Science Center provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. Since it was founded in 1963, graduate organizations and current residents of the Port business incubator have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. Read More
12/18/13 | Press Releases
