The University City Science Center is now accepting applications for the second class of its Digital Health Accelerator (DHA). The application period runs through October 26, 2015.
A selection team will choose six well-qualified companies in the digital health or health IT sector. Successful candidates will receive funding up to $50,000, office space at the Science Center, professional mentorship, access to investors and warm introductions to appropriate decision makers in the target market. The selected companies will be announced on January 15, 2016. The program will run from February 2016 to February 2017.
Successful applicants will be ready to establish operations in the Greater Philadelphia region and have a product or concept that is ready to be sold, or will be ready to be sold as a result of the DHA’s support, in the U.S. healthcare market. Applicants must be willing to take advantage of the coaching and mentoring provided by the DHA.
Competitive awards will be granted to up to six companies that best exemplify:
- Focus on the support of digital health or health IT initiatives
- Formation of partnerships with university affiliates
- Creation of jobs in the Greater Philadelphia region
- Revenue generation or matching source of investment
- Pennsylvania-based operations during the funding period
- Funds expended in the Greater Philadelphia region
- Completion of project by February 2017
Launched in 2014 by the Science Center, the DHA supports early-stage digital health companies with funding, office space, professional mentorship and introductions to key healthcare stakeholders in the Greater Philadelphia region. Funding from the U.S. Small Business Administration Growth Accelerator Fund will enable the second class of the DHA to continue to focus on minority and women-led businesses. The DHA has also received support from the Commonwealth of Pennsylvania’s Department of Community and Economic Development.
The first round of the DHA ended in July 2015. In just one year, the seven companies in the inaugural class went from prototype to commercialization, created 53 new jobs, generated $600,000 in sales and raised almost $4 million in follow-on investment. The Science Center does not take equity from DHA participants.
Interested companies can apply online at: http://www.sciencecenter.org/programs/dha.