Science Center Accepting Applications for Second Class of its Digital Health Accelerator

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The University City Science Center is now accepting applications for the second class of its Digital Health Accelerator.

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:
o    Focus on the support of digital health or health IT initiatives
o    Formation of partnerships with university affiliates
o    Creation of jobs in the Greater Philadelphia region
o    Revenue generation or matching source of investment
o    Pennsylvania-based operations during the funding period
o    Funds expended in the Greater Philadelphia region
o    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.

About the Science Center
The University City Science Center is a dynamic hub for innovation, and entrepreneurship and technology development in the Greater Philadelphia region. It provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. The Science Center was the first, and remains the largest, urban research park in the United States. Since it was founded in 1963, graduate organizations and current residents of the University City Science Center’s Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. For more information about the Science Center, go to http://ucscreview.org/.

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Jeanne Mell

Kristen Fitch