Six months after declaring its intention to open a health IT accelerator in Philadelphia, the Canadian Consulate General has set one up at the University City Science Center.
The inaugural class of six entrepreneurs in the CTA@Philadelphia program will be housed at the center for three to six months. The business focus of these companies reflect some of the challenges providers are working to solve such as interoperability, reducing hospital acquired infections and compliance.
The move follows the start of DreamIt Health’s accelerator in the city last month.
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The companies in CTA@Philadelphia include:
Caristix: Data flow and interoperability for hospitals
Hospitalis: Improving clinical processes throughout the healthcare ecosystem
Infonaut: Real-time clinical information hospital infection prevention and control
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Memotext: Evidence-based personalization of patient compliance interventions
Pulse Infoframe: Database-driven informatics for disease management and clinical workflow improvement
Sensory Technologies: Telemedicine solutions for in-home hospice care services
Memotext was one of the companies that presented at a fall Canadian innovation event in Philadelphia last year. A couple of other western Canada businesses that presented at that event decided to focus on the US West Coast where it would be more realistic to expand.
Several of the companies in the inaugural program have established a presence in other countries, according to Vincent Finn, a trade commissioner for life sciences and health IT, with the Consulate General of Canada. Pulse Infoframe, for example, has offices in Brazil, the Middle East and India. Hospitalis has a presence in Brazil and Memotext has opened an office in the UK.
The plan is to have two classes of six companies each year. The second class is expected to start at the end of September. The hope is that it will help fuel job growth in the region.
“Each of these companies has come with a clear idea of what they want to achieve,” Finn told MedCity News in a phone interview. “This program opens the opportunities for partnerships in new markets.” He noted that Ben Franklin Technology Partners has been supportive.
The Canadian Technology Accelerator program has also set up an accelerator in Boston that combines health IT, medtech and life sciences.
“The sheer concentration of organizations and individuals connected with healthcare delivery makes our region the perfect cradle for companies to grow a strong market presence. Through its networks and programs, the Science Center is well positioned to help connect these Canadian companies to the resources needed to bring their products to U.S. customers,” Stephen Tang, University City Science Center CEO, said in a statement.
Last week, Canadian venture capital firm BDC Venture Capital said it had formed a strategic partnership with the Canadian Department of Foreign Affairs and International Trade to expand the Canadian Technology Accelerator program in US cities such as San Francisco and New York as well as Philadelphia and Boston.
