Accelerator program takes on the health care industry’s greatest challenges
Philadelphia, PA – Independence Blue Cross (Independence), Penn Medicine, and Dreamit Ventures today announced the third class of Dreamit Health Philadelphia health-tech startups. Recruited from around the world, these companies will participate in a 16-week boot camp from July to October 2015. Dreamit Health will give each startup tools and support to fast track into high-growth potential companies that will tackle some of the health care’s greatest challenges — from preventing concussions to helping working professionals care for their aging parents.
Powered by Independence, Penn Medicine, and Dreamit Ventures, Dreamit Health handpicks companies based on their team strength, as well as the importance of the health care issue they aim to tackle. During their experience, each team will receive:
- An intense curriculum at the intersection of health care, business, technology, and design;
- Free workspace at the University Science Center’s Innovation Center @3401;
- Mentorship from successful entrepreneurs;
- Legal advice and counsel
- Access to people and resources from leading health care organizations, including Independence and Penn Medicine, which are typically unavailable to startup companies.
The cycle from July 13, 2015 to October 30, 2015 will culminate on Demo Day on October 26, 2015, where each startup will share their company’s progress and plans for the future with an audience of several hundred industry leaders, investors, potential customers, and media.
“At Independence, we put our members at the center of everything we do, something we call Human-Centered InnovationSM, and partner with companies focused on solving health problems in pioneering ways,” said Independence President and CEO Daniel J. Hilferty. “Dreamit Health Philadelphia is one of several initiatives we’re supporting to help transform our region into a global center for health care innovation. The program allows us to partner with like-minded organizations and offer expertise, resources, and tools to help nurture and grow promising startups.”
“We are pleased to continue working with our partners in sharing resources and expertise to help fuel this initiative’s growth,” said Ralph Muller, CEO of the University of Pennsylvania Health System. “This program helps Penn Medicine deliver the best available care to patients while supporting crucial innovation here in our community.”
Dreamit Health Philadelphia has helped dozens of health care startups from across the country take on troublesome health care issues including medication adherence, hospital readmission, mobile diagnostics, patient communication, claims submissions, and cost transparency.
The incoming teams are:
- CareCierge (Philadelphia, Pennsylvania) — Concierge services for those who find themselves taking care of an ill or aging loved one.
- dBaza Health (Pittsburgh, Pennsylvania) — Clinically validated patient onboarding platform for managing chronic diseases like diabetes.
- GraphWear Technologies (Philadelphia, Pennsylvania) — Low-cost graphene-enhanced flexible sensors measuring blood sugar, dehydration, and fat burning.
- Gray Matter Technologies (Austin, Texas) — Impact-sensing sports mouthguard that identifies athletes at risk of concussion.
- Neutun Labs (Toronto, Canada) — Tracking software for epileptics utilizing sensors in smart watches and other wearables.
- Oncora Medical (Philadelphia, Pennsylvania) — Analytics software for radiation oncologists to compare patients against past cases.
- Pallas Medical (Boulder, Colorado) — Mobile, easy-to-use device to cool scalp during chemo and prevent hair loss.
- VisExcell (New York, New York) — Better computer-aided detection in mammograms and other imaging modalities through big data and advanced machine learning algorithms.
This is the second year of the Dreamit OpenCanvas partnership with the Children’s Hospital of Philadelphia (CHOP). OpenCanvas identifies innovative ideas from CHOP employees and accelerates them alongside the rest of the companies in the Dreamit Health cycle. This year’s participants are:
- Simulated Driving Assessment — Assessing and improving driving skills for employees driving fleet vehicles.
- Intelligent Molecular Cancer Analytics — Integrating DNA and RNA tumor profiling to better match therapies.
“The Dreamit Health Philadelphia accelerator program gave us invaluable access to the health care and engineering resources we needed to develop our service to help chronically ill patients better manage complex medication regimens,” said Hareesh Ganesan, COO and co-founder of TowerView Health, a 2014 Dreamit Health Philadelphia startup. “Independence Blue Cross and Penn Medicine have given us a tremendous amount of support in understanding the complex health care landscape and supporting our initial pilots. Dreamit Health’s in-house engineering resources and partnerships gave us critical guidance in focusing our early-stage product development.”
“One of the most valuable things an entrepreneur can do early on is talk to a lot of customers. Dreamit Health companies are encouraged and coached on how to quickly identify and test critical assumptions with potential customers from day one,” said Steve Barsh, EVP of Accelerators and Managing Director for Dreamit Health. “Having Independence and Penn Medicine as strategic partners opens up doors and unique opportunities for our entrepreneurs and enables them to quickly test those assumptions that can make or break a company.”
About Dreamit Ventures
Dreamit Ventures helps exceptional people build exceptional companies. Dreamit operates accelerators in New York, Philadelphia, Austin, and Baltimore. Since its founding in 2008, Dreamit has helped nearly 150 startups reduce risk and speed to market including: Adaptly, Biomeme, LevelUp, Meerkat, MindSnacks, Parsely, Peeractive SeatGeek, SnipSnap, and TrendKite. Information about Dreamit Ventures is available at www.Dreamit.com, or via email at info@Dreamit.com.
About Independence Blue Cross
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With our affiliates, we serve nearly 10 million people in 24 states and the District of Columbia, including 2.5 million in the region. For nearly 80 years, we have been enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.
About Penn Medicine
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania (founded in 1765 as the nation’s first medical school) and the University of Pennsylvania Health System, which together form a $4.3 billion enterprise.
The Perelman School of Medicine has been ranked among the top five medical schools in the United States for the past 16 years, according to U.S. News & World Report’s survey of research-oriented medical schools. The School is consistently among the nation’s top recipients of funding from the National Institutes of Health, with $398 million awarded in the 2012 fiscal year.
The University of Pennsylvania Health System’s patient care facilities include: The Hospital of the University of Pennsylvania — recognized as one of the nation’s top “Honor Roll” hospitals by U.S. News & World Report; Penn Presbyterian Medical Center; Chester County Hospital; Penn Wissahickon Hospice; and Pennsylvania Hospital — the nation’s first hospital, founded in 1751. Additional affiliated inpatient care facilities and services throughout the Philadelphia region include Chestnut Hill Hospital and Good Shepherd Penn Partners, a partnership between Good Shepherd Rehabilitation Network and Penn Medicine.
Penn Medicine is committed to improving lives and health through a variety of community-based programs and activities. In fiscal year 2012, Penn Medicine provided $827 million to benefit our community.