Various groups with links to New York have launched a health accelerator, which will have funds provided from corporates and venture capital firms.
The New York City Investment Fund, a private fund chaired by private equity veteran Henry Kravis, and the New York eHealth Collaborative, a not for profit organisation, are running the New York Digital Health Accelerator.
The program is looking to choose 12 early and growth-stage companies developing technology products in care coordination and patient engagement for healthcare providers.
Each company will be awarded up to $300,000 along with mentoring.
An initial $4.2m will be used to fund the programme provided by the New York City Investment Fund, US-based health provider Aetna, US-based healthcare company UnitedHealth Group., and venture firms, Milestone Venture Partners, New Leaf Venture Partners, Quaker Partners as well as Safeguard Scientifics.
The New York eHealth Collaborative, The Empire State Development Corporation, New York’s development agency, and Health Research, a not for profit corporation affiliated to the New York State Department of Health, will provide additional funds or services.
Tom Vanderheyden, vice president of the emerging businesses group at UnitedHealth Group, said: "Innovation is a key driver in helping make the health system work better for everyone. We believe the New York Digital Health Accelerator model will help bring practical solutions to market in a significantly shorter timeframe."
In November last year UnitedHealth Group also sponsored Rock Health, another start-up accelerator. UnitedHealth joined Rock’s other corporate partner Microsoft Health Solutions, Nike, Qualcomm Wireless Health, and Quest Diagnostics.
Hospital partners of Rock Health included Mayo Clinic, Cincinnati Children’s, UCSF and Harvard Medical School.