Digital Health Marketplace is a regional marketplace for digital health technologies, connecting buyers and sellers through curated matchmaking and pilot funding programs.


Background

New York City is home to a bustling healthcare ecosystem of major hospitals, academic medical centers, payors, and pharma companies. Meanwhile, NYC’s many employers and retailers invest millions in employee and consumer wellness. With the regional tech sector growing strong, there is a significant opportunity for entrepreneurs and companies to take the complexities of healthcare into their own hands. These companies have bold visions to use technologies to reduce costs, improve patient care, and bring real change to the lives of those struggling with illness and disease. Companies working on these missions in the city raised over $600 million in 2015 alone.

The New York City Economic Development Corporation (NYCEDC), in partnership with Health 2.0, launched Digital Health Marketplace (previously Pilot Health Tech NYC) to leverage this momentum and position New York City as the nation's hub for healthcare technology by matching the buyers ("Healthcare Partners") and sellers ("Companies") of healthcare technology through a regional marketplace. 

The programs aim to:

  1. Encourage the diffusion of new technologies that improve clinical care, reduce healthcare costs, and boost consumer wellness.
  2. Assist companies in building long-lasting relationships with regional health and healthcare customers.
  3. Lay the groundwork for the creation and growth of new businesses.

Digital Health Marketplace helps Companies and Healthcare Partners "match" with each other through facilitated matchmaking sessions. The programs invite Companies and Healthcare Partners to submit joint proposals for grants that can defray the costs of innovative pilot projects. 

Our impact:

Nearly 600 companies and healthcare organizations introduced through curated matchmaking

34 leading healthcare organizations enrolled in matchmaking

+110 jobs produced by winners of our Funding Program

+5000 patients affected by pilot projects made possible by our Funding Program


Our Fall 2016 programs

Early-stage health or healthcare technology companies (Companies) and key healthcare service organizations and stakeholders (Healthcare Partners) may participate in one or both of the programs offered through the Digital Health Marketplace.

Matchmaking

Apply to 'Find a Match' at our upcoming May 17th and 18th in-person matchmaking sessions by submitting an application to our Matchmaking Program due April 10th. Healthcare Partners will opt into meetings with Companies whose solutions meet their needs, and organizers will also facilitate virtual email introductions.

Interested applicants do not have to go through the Digital Health Marketplace matchmaking program in order to apply together to our Pilot Funding Program. We encourage Companies to reach out independently to various healthcare service organizations and health stakeholders for potential partnerships.

Curated Meetings

Digital Health Marketplace facilitates in-person matchmaking to help Companies and Healthcare Partners connect to discuss potential pilots or partnerships.  Healthcare Partners select the Companies they will meet with; Companies will be officially notified of their selection prior to each session. Digital Health Marketplace is not permitted to provide the contact information of Healthcare Partners to interested Companies. 

 

 

 

 

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Pilot Funding

Digital Health Marketplace provides commercialization awards through its Funding Program to defray Healthcare Partners' costs in evaluating a technology for purchase and use. By helping Companies and Healthcare Partners to collaborate on pre-sales pilot projects, the Finding Program speeds the pace of healthcare innovation by getting partners to a deal faster.

Joint Applications

A Healthcare Partners and an Companies can apply as a pair to our Pilot Funding program by submitting a joint proposal. Applications without a Healthcare Partners or Innovator co-applicant will not be accepted.  A panel of experts judges will review submitted proposals to select the winners. Selected proposals will receive up to $1 million in funding over three years.

Promotion

Winners will be announced at Pilot Day, a marquee event where winners are revealed to 200+ leaders of the tech and healthcare communities. Selected winners will also have the opportunity to present their pilot projects at major health events and conferences. Any preliminary data and proof-of-concept results may be used for promotional purposed on the Digital Health Marketplace website, in press releases, newsletters, and other marketing material. This is a chance for both Companies and Healthcare Partners to be in the spotlight, supported by the City of New York. 

Pilot Implementation Support

The selected winners will then implement their pilot projects over a period of approximately 3-9 months. The Digital Health Marketplace team will provide pilot planning and implementation support services at Grantee Day, an exclusive day of workshops, support and guidance for winners.


Priority Areas

The New York City healthcare community – including healthcare providers, payors, academic medical institutions, and entrepreneurs – participated  in the Eds & Meds 2020 strategic review of the healthcare technology sector led by the New York City Economic Development Corporation (NYCEDC). These stakeholders identified priority areas below in which innovative technologies can help address the Affordable Care Act by improving the quality of care and reducing healthcare costs. Applicants are encouraged, but not required, to address these priority areas with their technology submissions.

Novel Technologies:

  • Wireless health and home monitoring devices
  • Enterprise technology
  • Medical devices
  • Tech-based medical devices (i.e. with software component)

Data Use:

  • Data analysis to improve outcomes and/or reduce cost of care
  • Population level data analytics and predictive modeling

Patient Management:

  • Tools to improve patient compliance and disease management
  • Medication adherence and medication checking
  • Tools to improve communication and patient satisfaction metrics
  • Tools to manage clinical trials and patient networks
  • Effective marketing methods for new patients

Process Improvement:

  • Care coordination and integration
  • Productivity enhancements and streamlining processes

Consumer well-being and engagement:

  • Fitness and wellness
  • Healthy eating
  • Access to data and patient empowerment

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