Philly’s DreamIt Health Accelerator Announces 2017 Cohort
DreamIt Health, the health accelerator that is part of DreamIt Ventures, is now preparing for it’s fourth cohort. DreamIt Health focuses on healthcare related startups that are selling to enterprise customers. They’ve consistently been one of the top ranked health related startup accelerators.
DreamIt’s formula is a ten week program that starts with six weeks of intense entrepreneurship coaching, product development, business and marketing development and preparation for meeting with investors and partners.
The next portion of the program is two weeks of deep customer immersions where the startups speak face to face with potential partners in the healthcare industry. This part of the program is key to possible pilot programs once the startup finishes with DreamIt. This year, some of those face to face meetings will be with AARP, DuPont, Accenture and Independence Blue Cross.
The final portion is a two week investor road show.
“Our team has engineered an accelerator to serve the needs of healthcare startups selling to enterprise customers.” Dreamit CEO Avi Savar said in a statement. “The Dreamit program shortens the sales cycle for startups and creates momentum that leads to more customers, which in turn leads to a much higher rate of raising follow on rounds of financing. Selling to health enterprise is about relationships, and Dreamit helps startups build bonds with healthcare executives in a very condensed time.”
DreamIt earmarks up to $50,000 for seed capital however the startups have the option of declining the initial seed capital and keeping all of their equity. DreamIt does hold a right to investing up to $500,000 in their startups’ Series A rounds.
The application process is tough. Less than 3% of the startups that applied made it into the 2017 cohort. Here they are:
Tine Health makes a mobile platform for nurses that serves as guide to medical devices and procedures, with the aim of reducing medical errors. The company designs training content for each device, then affixes the device with a scannable smart sticker. Before beginning a procedure, nurses scan the sticker with a smartphone and get a training video designed as a quick refresher, reinforcing what they have learned in the classroom, as well as tracking use of the device.
Marmo Health, a UK-based startup, is developing a mobile messaging app that provides coaching and personalized peer groups for patient support and behavior change.
Irish startup Bluedrop Medical is working on a device for people with diabetes to remotely monitor for foot ulcers. The cloud-based device uses an algorithm to perform a scan for abnormalities and connect the patient with faster treatment.
Citus Health is working to eliminate the middleman of call centers in home healthcare through its workflow automation and remote patient support platform.
Cybersecurity company Cylera uses machine learning to protect medical devices for healthcare organizations.
Biorealize is working on its Microbial Design Studio, a countertop biofabfrication machine that allows biologists to design, culture and test genetically modified organisms for biotech applications.
Group K Diagnostics offers a modular testing system designed to be used at the point of care. It can run multiple tests and provides results via a smartphone or desktop app.
Kaizen Health is working to help patients get rides to and from healthcare providers, with a platform to connect health systems and different transportation organizations, including Lyft.