Digital health startup accelerator Dreamit Health has received a$325,000 grant from Blackstone Charitable Foundation to accelerate more high-potential digital health startups, strengthening the entrepreneurial ecosystem in Philadelphia. Developed in collaboration with Penn Medicine and Independence Blue Cross (Independence), the grant will also allow Dreamit to expand its high-impact accelerator practices based on the program’s previous three years of success.
The funding will also grow the power of the Dreamit Health network by facilitating new relationships with additional Philadelphia health care organizations while deepening integration with current partners. Dreamit Health will host on-site Customer Immersion and Learning Events at top Philadelphia-area health care institutions to expand engagement with clinicians and build a broader clinical network for early need finding, design iterations, and piloting. Digital health startups will have an opportunity to pitch the executive teams and clinicians at these institutions their insights into core problems, market opportunities, gaps in existing solutions, and their current value proposition, along with how the regional institutions can help.
Now entering its fourth year, Dreamit Health has accelerated over 40 startups, providing funding, mentorship, industry insights, data and access to customers and investors through its global network. Dreamit Health alumni have gone on to raise additional capital, secure coveted pilot programs, win contracts, and successfully exit.
“This grant will allow more early stage digital health companies to participate in Dreamit Health and bring their world-changing innovations to market while deepening our roots in Philadelphia’s tech community, where we’ve been supporting entrepreneurs for nearly a decade,” said Dreamit CEO Avi Savar in an official statement. “We are proud to have been selected by the Blackstone Charitable Foundation from hundreds of organizations and look forward to working with our partners to build a bigger, better Dreamit this year.”