‘Digital health accelerators’ are popping up like spring flowers, but what is the ‘secret sauce’? New York Digital Health Accelerator’s (NYDHA) program may have found the recipe. Dave Chase, CEO of Avado, takes a go at it from what a program like this means to an early-stage (or startup) company. Key points:
- 23 leading providers were the selection committee–customers, a/k/a ‘who pays’–and they mentored and met extensively with their assigned company
- Funding and the equity ‘take’ were the most attractive of any accelerator: according to Chase, “providing the most funding per company of any accelerator ($300,000 or more[Ed.note: versus a more typical $20,000]) — roughly 5-15x more than other accelerators while taking significantly less equity.”
- It was actively co-managed by The Partnership Fund for NY and NYeC (NY eHealth Collaborative) whose senior staff sourced conference/exposure opportunities and connections with Federal and state healthcare leaders
- NY is clearly backing this with a goal of reinventing healthcare
Previously in TTA: Healthcare IT–New York’s Next Big Thing [14 May] highlighting the Partnership Fund for NY and the NYDHA program.