The New Jersey Innovation Institute (NJII) is recruiting growth-stage health IT companies (with revenues between $250K-$6MM) to participate in the third cohort of its HealthIT Connections Program. Funded by a grant from JPMorgan Chase & Co.’s Small Business ForwardSM initiative, the health IT program connects entrepreneurs with critical resources to help their businesses accelerate growth, create jobs and expand influence—all at no cost.
The program runs twice each year and consists of strategic networking, executive coaching during six biweekly roundtable sessions, exclusive events, access to key health care executives, and other business support. To date, 24 companies from New Jersey, New York, Pennsylvania, and Massachusetts have participated, with products focused on mobile apps, data analytics, retail health, electronic health records (EHR) system support, and health care services. Businesses are not asked to relocate for the program.
Now in its second year, NJII has already succeeded in sourcing new revenue opportunities and facilitating strategic matchmaking on behalf of participating companies. “This program has been huge success for my company,” says Paul Dorsey, Co-Founder of Dulcian Inc., a software development company and participant in the spring 2015 cohort.
Inspired by the CEO roundtable discussions, Dorsey and his team developed a new health care product to improve patient tracking, which they’re pursuing in partnership with a fellow cohort company. More impressively, Dulcian was able to leverage one of the strategic connections made by NJII to secure a new client which they expect to generate over $1MM in new revenue in the first year alone. Dorsey continues, “all of these opportunities are a direct result of [the program].”
Judith Sheft, the program lead and associate vice president of technology & enterprise development at NJII, is passionate about delivering value for cohort members as well as the broader health care ecosystem. “Our primary mission is to help drive growth for proven, growth-stage entrepreneurs.” But Sheft notes that NJII’s activities must also benefit the broader ecosystem in order to achieve any real success. “By establishing a regional ‘cluster’ for health IT innovation, we’re well positioned as an honest broker between problem-solving entrepreneurs and the established health care players looking for solutions to their biggest challenges.”
Applications for the fall cohort are due July 31, 2015. The program will run every other Friday morning beginning Oct. 2.
If you have additional questions please contact: Travis Kahn, program manager, at firstname.lastname@example.org or 201-264-9425.
HEALTH IT CONNECTIONS PROGRAM
Learn more: www.njii.com/healthit
About New Jersey Innovation Institute
The New Jersey Innovation Institute (NJII) is an NJIT corporation that applies the intellectual and technological resources of the state’s science and technology university to challenges identified by industry partners. Through its Innovation Labs (iLabs), NJII brings NJIT expertise to key economic sectors, including health care delivery systems, bio-pharmaceutical production, civil infrastructure, defense and homeland security, and financial services.