The New York City Investment Fund (NYCIF) has partnered with the New York eHealth Collaborative (NYeC) and the NYS Department of Health (DOH) to launch the New York Digital Health Accelerator (NYDHA).
With an initial investment of $4.2m, during the next months the program will choose 12 early- and growth-stage companies that are developing innovative technology products in care coordination, patient engagement, analytics and message alerts for healthcare providers. Run by NYCIF and NYeC, the accelerator will provide each company with up to $300k, mentoring from senior-level executives at leading hospitals and other providers in New York (read here). The focus areas of innovation will support the development of products that help the state’s Medicaid Redesign Team and its new “Health Homes” program, an initiative intended to make the state’s treatment of Medicaid patients more coordinated and efficient.
Companies will also have priority access to the technology platform that is connecting electronic health records across New York State, the Statewide Health Information Network of New York (SHIN-NY).
The NYDHA program aims to create approximately 1,500 jobs over a five year period. In addition, it is expected that the companies will attract upwards of $150m to $200m in investment from the venture capital community post-program.
The initial capital will be provided by a syndicate of investors, including Aetna, Milestone Venture Partners, New Leaf Venture Partners, New York City Investment Fund, Quaker Partners, Safeguard Scientifics, and UnitedHealth Group. The Empire State Development Corporation, Health Research Inc., and NYeC will provide additional funds and/or services to operate the NYDHA.
Applications, which are due June 1, 2012, are available at digitalhealthaccelerator.com.