DreamIt Ventures is launching its second health IT accelerator, which this year includes nine startups. Four companies in the new cohort are focusing on life sciences.
Although still fairly new, DreamIt’s accelerator celebrated a first success with Biomeme, part of last year’s group. The startup has secured more than $1m in seed funding. It is currently running a clinical study for its diagnostics tool Drexel University, focusing on sexually transmitted diseases.
DreamIt has been working with Einstein Health Network, Jefferson, Lancaster General, Penn Medicine and Temple University Hospital to select the current crop of startups. On top of this, it also has closer partnership agreements with Penn Medicine, Independence Blue Cross, John Hopkins, Kaiser Permanente and Northrop Grumman.
The nine chosen companies will also have the opportunity to participate in DreamIt’s Open Canvas@CHOP programme. The initiative lets them work with other startups at the Children’s Hospital of Philadelpia.Each selected startup will receive $25,000 in funding. The accelerator runs for a relatively short timeframe, lasting only for 3 to 4 months.
Among the life sciences startups is Drop Diagnostics. The Pennsylvania spin-out is developing molecular diagnostics tools to detect ovarian cancer through a blood test. RegDesk is aiming to help other startups deal with regulatory bodies both in the US and other countries. Tissue Analytics’s technology allows smartphones to be used to remotely track wound healing. BioBots is working on cheap 3D bioprinters.
Meanwhile, NarrativeDx analyses big data to let hospitals track patient satisfaction, which can impact Medicare – the US’s national social insurance – reimbursement. FlexiSched hopes to predict when a patient may not turn up for an appointment. TowerView Health is working on medication adherence technology. TrueClaim’s aim is to stop fraud in health care claims. Finally, Ristcall offers a wristband that lets patients call nurses more easily.