The University City Science Center is collaborating with the Canadian Consulate General to pilot a business accelerator for health information and communication technology companies from Canada. Opening on May 13, 2013, the Canadian Technology Accelerator at the Science Center will provide a 3-6 month "market immersion" experience for Canadian health IT companies, leveraging the Science Center’s resources and networks through its Port business incubator.
Modeled on the Canadian Technology Accelerators run by the Canadian Consulates in California and New York, CTA@Philadelphia (Health IT) will offer qualified Canadian entrepreneurs from high-potential early-stage start-ups in the health information technology sector three months of paid communal co-working space in the Science Center’s Port business incubator. The program will accommodate six start-ups twice a year, for a total of 12 start-ups over a 12-month period.
“We believe that there are enormous opportunities for health IT companies in the Greater Philadelphia region,” says Science Center President & CEO Stephen S. Tang, Ph.D., MBA. “The sheer concentration of organizations and individuals connected with healthcare delivery makes our region the perfect cradle for companies to grow a strong market presence. Through its networks and programs, the Science Center is well positioned to help connect these Canadian companies to the resources needed to bring their products to U.S. customers.”
“Canada and the United States are each other's most important trading partners with bilateral trade between Pennsylvania and Canada exceeding $24.0 billion annually and already generating over 300,000 Pennsylvania jobs. Small and medium-sized enterprises are the engine of the North American economy, creating jobs, growth and long-term prosperity for all,” said Vincent Finn, Trade Commissioner, Life Sciences & Health IT, Consulate General of Canada.
- Six Canadian companies make up the inaugural class of CTA@Philadelphia (Health IT):
- Caristix transforms data flow and interoperability for hospitals
- Hospitalis is working to improve clinical processes throughout the care continuum
- Infonaut offers real-time clinical information hospital infection prevention and control
- Memotext is developing evidence-based personalization of patient compliance interventions
- Pulseinfo Frame offers database-driven informatics for disease management and clinical workflow improvement
- Sensory Tech is developing telemedicine solutions for in-home hospice care services
CTA@Philadelphia residency will enable these Canadian companies to create relationships with U.S. healthcare prospects including hospitals, insurers, clinics and physician practices. In addition to client acquisition and sales opportunities, CTA@Philadelphia will help its resident companies to connect to investor networks and to business mentors with significant experience in the e-health sector.