With its high costs and confusing insurance policies, the health care industry is ripe for disruption. Who better to do that than young, energetic startup companies?
Dreamit Health certainly thinks that a little startup energy will go a long way in reshaping health care, and on Thursday, announced that it received a $325,000 grant from Blackstone Charitable Foundation.
Dreamit Health is an offshoot of Dreamit Ventures and was developed in collaboration with Penn Medicine and Independence Blue Cross. It serves as an accelerator to help high-potential health care startups develop their businesses — offering funding, mentorship and access to customers and investors. Its most recent class included a mouthpiece that detects concussions and a patch that analyzes sweat to test for dehydration. Read more »
At a recent Dreamit health demo day, Saurabh Radhakrishnan introduces us to GraphWear, a smart sweat patch.
Whether it’s a mouthpiece that detects concussions, pill bottles that blink when it’s time for patients to take medicines or wearables that track diseases, health care technology is an exploding industry — and Philadelphia is at the center of it all.
In fact, Philly’s Dreamit Ventures (through its offshoot Dreamit Health) was the second-most active health care investor in 2015, according to new research from CB Insights. (No. 1 was the highly touted Silicon Valley-based seed accelerator, Y Combinator.) DreamIt and Y Combinator were the only investors to finance more than 10 unique digital health companies this past year — with DreamIt making deals with companies like Redox, Oncora Medical and CareCierge.
For 2016, Dreamit has $1 million earmarked for investments in health care tech. To date, Dreamit has invested more than $3.1 million in health care companies that have participated in its program and those companies have raised nearly $12.3 million in additional capital, the company reported. Read more »
Saurabh Radhakrishnan introduces the crowd to GraphWear. (Photo by Bryan Karl Lathrop/Courtesy of DreamIt.)
Health care is at a crossroads and all players in the market basically want the same three things: Increased access to care, lower costs and better results. So plenty of companies are looking for innovations in new places — like startups companies. So DreamIt Health (an offshoot of Philly-based DreamIt Ventures) offers a select group of startups $50,000 in seed capital, coaching by hand-selected mentors, free workspace, legal counsel and access to resources in the health care space.
The most recent DreamIt Health innovations were on display Monday at the Demo Day. Read more »
David Bookspan (Photo courtesy of DreamIt Ventures.)
Sitting in a coffee shop with David Bookspan, I wish I had a business idea to pitch. After all, he’s a founding partner of DreamIt Ventures, a $30 million venture capital fund in Philadelphia that’s sprung success stories like Meerkat, SeatGeek and LevelUp.
We spoke at length about how he handles all the entrepreneurs clamoring for his attention, the importance of keeping DreamIt companies in Philly, and the criticism that DreamIt isn’t encouraging its alumni companies to work together. He even revealed some embarrassing professional failures (like a Hollywood Fantasy Camp.) For a guy who’s so sought after, he comes off as very approachable, soft-spoken and generally nice. We even talked baseball for a while after our interview.
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