Spring Funding & Matchmaking

Commercialization Awards totalling $250,000 to conduct a health technology pilot in NYC applied through a Buyer-Seller Joint Application. In order to submit a Buyer-Seller Joint Application, you must complete the application with a Pilot Partner. 

Prizes
1x $75,000 grant
2x $50,000 grants
3x $25,000 grants

Important Dates

March 3: Find a Pilot Partner Applications Due
March 28/29: Notifications of Match
April 6: Matchmaking Event 
April 26: Q&A Webinar
May 5: Joint Applications Due 
May: Judging Period 
June: Pilot Day

Who should apply?*

Health Technology Sellers
Early-stage healthcare startups, with market-ready products who can demonstrate financial stability, managerial capacity and scalability, are encouraged to apply and must meet the following criteria:

 
 

Health Technology Buyers
Healthcare organization or employer with a strong presence in NYC are encouraged to apply and must meet the following criteria:

 
 

*with some exceptions

Joint Proposal Requirements

The 'Buyer' and 'Seller' co-applicants must discuss and agree upon the pilot project design prior to submitting an application. To apply, jointly complete this application form by Friday, May 5, 2017. We encourage you to preview the application in its entirety to ensure you have the information prepared. The 'Buyer' and 'Seller' are asked to submit a joint proposal with the following submission elements:

 

1. General Information: Seller Co-Applicant

  • Contact information, Company office address
  • Annual revenue, amount of capital raised and type of investors
  • Number of full and part-time employees in NYC and elsewhere

2. General Information: Buyer Co-Applicant

  • Contact information, Organization office address, team members
  • Process of taking companies "beyond the pilot"

3. Overview of Technology

  • What is the unmet need your technology or innovation is designed to address?
  • Tell us more about your technology solution.
  • What is your business model?
  • What is your target population?

4. Pilot Proposal

  • What is your proposed pilot and why is it important?
  • What is the scale of your pilot? (i.e. How many participants will take part in the pilot)
  • What is your target patient or consumer population and why?
  • What is your proposed timeline and implementation plan? (Typical pilots are 6-9 months)
  • What resources will be required to implement your pilot?
  • What are the proposed roles/responsibilities for the Seller and the Buyer? (i.e. patient recruitment, data analysis)
  • What challenges or risks do you foresee, and how do you plan to mitigate them?
  • Does your pilot require IRB approval? Please describe plan and timeline. (Note: The initial disbursement of funding is contingent on receiving IRB approval)
  • What is the potential for impact in NYC from the perspective of improving patient health?

5. Pilot Metrics

  • What are your concrete metrics for success? (i.e. Costs reduced, increased adherence, reduced readmissions, staff efficiencies, etc.)
  • For each of these metrics, what would characterize a success? If you have an agreement to convert from the pilot to a commercial deployment of the technology with the Buyer, what outcomes must be realized?

6. Pilot Budget

  • What are the contributions to be made by the Seller and Buyer (resources, technology, staff time and involvement, other costs)?
  • Characterize the cost and complexity of your pilot. Are Buyer and Seller devoting major resources to develop new systems/integrate into existing systems, or are you collaborating to distribute a finished product?   
  • To what extent do you believe additional funding will be required for subsequent pilots or phases of your pilot (if applicable)?
  • How will you allocate the funding received between 'Buyer' and 'Seller' if chosen?
  • If software development is included in your budget, YOU MUST specify how that money will be spent (e.g. product/feature development, integration, UX/UI upgrades)

7. Commitment to NYC

  • Please describe how you expect to create more jobs in NYC and expand your presence during and after the pilot project.
  • Where is your NYC office located? What is the square footage? 
  • What are your long term growth plans in NYC?
  • Note that if selected, winners must provide regular reports to demonstrate continued eligibility in maintaining a primary place of business in New York City

8. Letter of Support from Buyer Organization

9. Optional

  • Any additional supporting documents (articles, recommendations, awards and achievements, etc.)

Please note that if a submission is selected as a winner, the 'Buyer' and 'Seller' must sign a written agreement delineating their pilot implementation plan and any terms and conditions prior to piloting the project. Winners must provide regular reports throughout the pilot implementation period to demonstrate continued eligibility in establishing or maintaining a primary place of business in New York City 

Joint Proposal Evaluation Criteria

Pilot Proposal & Design (25%)
Sellers company’s product potential (20%)
Strength of Match (10%)
Pilot Budget and Scale (10%)
Potential for health impact (10%)
Potential of Impact of NYC (25%)

Terms and Conditions

Please find the full terms and conditions for the 2017 program here.