DreamIt Ventures partners with Children's Hospital on spinout startups - Technical.ly Philly

Business

Feb. 21, 2014 8:30 am

DreamIt Ventures partners with Children’s Hospital on spinout startups

DreamIt Ventures' latest project? Helping big organizations innovate.

DreamIt Ventures‘ latest project? Helping big organizations innovate.

The early-stage high tech accelerator launched OpenCanvas, a program that searches for startups within large organizations and places them in DreamIt’s accelerator. Look at it as an innovative spin on tech transfer, the process by which universities and research institutions commercialize on research done in-house.

“These organizations don’t have the organizational structure to innovate in-house,” said DreamIt partner Steve Welch, who is running OpenCanvas.

Following a pilot program in Austin, Tex., OpenCanvas is launching in Philadelphia with the Children’s Hospital of Philadelphia, according to a release. DreamIt will choose two CHOP startups to participate in DreamIt Health Philadelphia. On CHOP’s part, it’s an effort to diversify revenue streams, according to a release.

Both CHOP and DreamIt Ventures will take equity from the participating startups, Welch said, adding that the hope is to repeat the program with different large institutions.

The Children’s Hospital of Philadelphia has recently amped up its innovation efforts, launching a partnership with Osage University Partners to increase investment behind its spinout companies and investing $50 million in spinout company Spark Therapeutics.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

Pennovation picked these 9 early-stage companies for its summer accelerator

This precision medicine company just raised $5M to help save preemies

AI, medical devices and sports tech startups land in NextFab’s accelerator

SPONSORED

Philly

How Macquarie blends tech-fueled financial services with global opportunity

Chesterbrook, PA

Deacom

Senior Software Developer

Apply Now
Philadelphia, PA - Center City

Odessa

Sr. Business Analyst

Apply Now

Josh Kopelman revealed as investor in Backstage Capital’s accelerator

These 6 companies made it to Backstage Capital’s first Philly accelerator

Two Philly companies are joining an accelerator inside the ‘largest medical complex in the world’

SPONSORED

Philly

This apprenticeship program is opening the door for candidates with nontraditional backgrounds

Philadelphia, PA

Technical.ly Match

Web Manager

Apply Now
Philadelphia, PA

PromptWorks

Senior Software Engineer

Apply Now
Philadelphia, Pa

Inspire

Event Sales Ambassador

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!