University City Science Center selected eight new life sciences startups to join its Launch Lane accelerator, including five companies based in Philadelphia.
Launch Lane is focused on helping startups reach milestones like piloting a prototype, generating initial revenue, hiring and raising capital.
With entry to Launch Lane, the Science Center will provide the eight companies with $200,000 collectively, with another $200,000 made available as each of the startups reaches development milestones. They will also be given access to the Science Center’s ic@3401 incubator for a year and be able to participate in weekly virtual programs and networking through the center.
“The pandemic has made it difficult for companies to find an effective community to help them grow and succeed financially,” said Aron Starosta, vice president of commercialization and new ventures at the Science Center, in a statement. Starosta said the eight companies selected "represent some of the most promising digital health startups with the potential to disrupt the way health care providers and patients interact."