Pilot Health Tech NYC 2015 Launches Today!

The New York City Economic Development Corporation, in partnership with Health 2.0 and Blueprint Health, is proud to announce today’s kickoff of Pilot Health Tech NYC 2015. Pilot Health Tech NYC is a pioneering innovation initiative: a unique marketplace for digital health technologies, connecting buyers and sellers through curated matchmaking, technical assistance, and competitive commercialization awards.

Since launching in 2013 the Pilot Health Tech NYC program has been a resounding success, stimulating the growth of the digital health ecosystem in New York City and beyond. The program has provided $2,000,000 in funding grants to early-stage health care technology companies working in partnership with key NYC health care service organizations and stakeholders. Pilot Health Tech NYC grant awardees have gone on to raise $170M in venture funding, create more than 100 high-tech jobs, and impact the lives of countless patients in the city of New York.

Pilot Health Tech NYC helps established health care stakeholders, like hospitals and health systems, de-risk their investments in new technology by simplifying the search for market-ready solutions. At the same time, the Pilot program shortens the sales cycle for startups and more established technology vendors by connecting them with forward-looking health stakeholders and supporting relationships that drive economic activity.

The 2015 program will consist of two independent components: the matchmaking program and the funding program. The matchmaking program will selectively identify innovative companies to directly address needs expressed by participating hospitals, clinics, payors and other potential customers (over 30 have participated to date). Two matchmaking sessions will be held each year to connect innovators and stakeholders.

The funding program, will seek applications from innovator and host pairs who have partnered with each other to carry out a pilot project. A panel of expert judges will review the applications and evaluate the submissions based on publicly established criteria. Selected pilot projects will receive funding from NYCEDC, totaling $1,000,000 over three years.

In conjunction with the matchmaking events, there will be also be two roundtable events and a half-day digital health conference. The roundtables, which will be available to innovators selected to participate in matchmaking sessions, will feature discussions with selected host organizations involving key issues facing their organizations. The half-day conference, which will cover the state of health technology in New York, will be open to the public, with tickets available online.

The deadline for applications to participate in the first matchmaking session is October 8th. The first matchmaking sessions will be taking place in New York City on October 28th. The second matchmaking sessions will follow in May 2016. If you have any questions about the matchmaking process please direct your questions to info@pilothealthtechnyc.com.

2014 Pilot Health Tech Winners

Eric Gertler, Executive Vice President and Managing Director for the Center for Economic Transformation

Eric Gertler, Executive Vice President and Managing Director for the Center for Economic Transformation

On June 26th, Pilot Health Tech NYC culminated in a demo day and celebration at the Alexandria Center for Life Science – NYC. Pilot Day was attended by 200 leaders from the City’s health tech, healthcare and venture communities, who were treated to dynamic presentations from this year’s winning teams. The winning teams took home a total of $1,000,000 in funding to validate new technologies through pilots in clinical settings.

In March, NYCEDC and Health 2.0 held Matchmaking Days to bring together startups and healthcare institutions that would develop pilot proposals to address critical health needs. A panel of expert judges including researchers, practitioners, and investors selected the 11 winners. 

The $1 million in Pilot funding will be used to support pilot projects that will engage thousands of patients in New York City over a period of 4-12 months. The pilots will generate the essential early data that can help startups raise investments and secure their first major customers. NYCEDC and Health 2.0 will provide networking assistance, educational resources and mentorship throughout the process.

The theme of the night at the Alexandria Center was that healthcare innovation is looming large in the City. The role of Pilot Health Tech NYC for bringing new innovated ideas to the market is undeniable. In fact, last year’s winners have raised over $150 million in private investment since winning the awards.

Benjamin Branham, NYCEDC’s Chief Strategy Officer 

Benjamin Branham, NYCEDC’s Chief Strategy Officer 

The 2014 winners of Pilot are:

Smart Vision Labs / SUNY College of Optometry

GeriJoy / Pace University

Alvio by QoL Devices / Montefiore Medical Center

Hindsait / NY Blood Center

Nonnatech / ElderServe

Canopy Apps / Visiting Nurse Service of New York

Urgent Software / Mount Sinai Health System

AllazoHealth / Accountable Care Coalition of Greater New York

Healthify / VillageCare

Tactonic Technologies / NYU Langone, Rusk Rehab Center

Fit4D / HealthFirst 

Alvio by QOL Devics & Montefiore

Alvio by QOL Devics & Montefiore

Pilot Day’s success is only one indicator of a growing, vibrant health tech and life science community in New York. See the official press release and recent press coverage from the Daily News, MobiHealthNews & MedCity News for more information. Additionally, check out NYCEDC’s many programs in support of these industries.

Congratulations to all 2014 winners! Stay tuned as we follow the winning Pilot teams to see how their pilot projects are doing. 

Clarification on Indirect Costs

The Pilot Health Tech NYC team is excited about all the interest we've received and is eager to receive your applications by the Joint Application deadline on May 23rd. If you missed our Q&A Webinar, make sure to watch the recording.

As an update to our last post about the Joint Application Budget, Pilot will now allow indirect costs (that is, institutional overhead, as opposed to direct project costs) to be included in the proposed pilot budgets. We will, however, strongly privilege proposals that keep these to the host applicant's institutional minimum (as required by the host's funding policy) . This decision is based on feedback from many of our host partners that require a minimal amount of indirect costs to be covered through programs by Pilot. If you have additional questions about acceptable allocation of funding, please email us at info@pilothealthtechnyc.com.

Clarification on Joint Application Budget

The Pilot Health Tech NYC team is excited to see your applications come in by the Joint Application deadline on May 23rd. If you missed our Q&A Webinar, make sure to watch the recording.

As a reminder, Pilot Health Tech NYC will provide funding out of a total $1 million with the following parameters: 1) each selected winner will receive no more than 50% of the cost of an individual pilot program, up to $100,000 and 2) the host/innovator pair is responsible for providing funding or in-kind resources for the remainder of the budget, which must be of equal or greater value than the amount awarded. If selected, the two parties are free to decide how the Pilot Health Tech NYC funding will be allocated between host and innovator. The budget submitted as part of the application should be an accurate representation of the cost of the pilot program. 
 
All funding should be applied to the direct costs of the pilot only and should not include indirect costs, such as institutional overhead. For example, allowable funding applications may include staff salary, cloud storage, technical expertise and resources, and other costs as they relate directly to the pilot itself. If you have additional questions about acceptable allocation of funding, please email us at info@pilothealthtechnyc.com

121 Companies Find Their Match At Pilot Health Tech NYC Matchmaking Days

By Andrew O'Shaughnessy, Project Manager, Center for Economic Transformation

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Last week, an army of health tech startups and healthcare leaders descended on the NY Genome Center to participate in two days of matchmaking sessions as part of Pilot Health Tech NYC. Through 300+ brief, curated meetings, a total of 26 hospitals, neighborhood clinics, and large employers were exposed to a wide range of health and wellness technologies that promise to improve New Yorkers’ lives.

Recruited and screened by NYCEDC and partner Health 2.0, 121 companies offered a wide range of solutions including platforms and devices that support clinical trials, improve patient care, and empower New Yorkers to battle chronic diseases. Still early-stage, these innovators seek to validate their technologies through pilots with “host” institutions large and small, from Merck and NewYork-Presbyterian to the Bedford Stuyvesant Family Health Center.

With this opportunity on the line, the Genome Center brimmed with energy. “Know your ABCs,” said Jean-Luc Neptune, Senior Vice President of Health 2.0, to the room full of waiting entrepreneurs. “Always Be Closing!”

Pilot Health Tech NYC was developed by NYCEDC to meet the needs of early-stage health tech companies and to help organizations looking to adopt new health technologies. Although investment in health tech companies is growing three times faster in NYC than across the country, young companies can still struggle to reach decision makers at large institutions. Pilot’s Matchmaking Days solve that problem by putting key healthcare and human resources leaders in one room, and by providing $1,000,000 to help defray the cost of the most promising pilots. 

Even if you missed our Matchmaking Days, there is still time to participate in Pilot: hosts and startups have until May 23rd to find a partner and submit a joint proposal for funding to pilot new technologies in New York City.