Accelerators / Health tech

Apply to the Science Center’s Digital Health Accelerator — it’s a pretty sweet deal

Because of the unique situation the University City Science Center is in, it's able to offer free space and up to $50,000 in cash — without taking any equity.

The University City Science Center is now accepting applications for the second class of its Digital Health Accelerator, an effort to cultivate the region’s health IT sector. It hopes to attract more women and entrepreneurs of color. Half of its selection committee will be women and people of color, spokeswoman Jeanne Mell said.
For its part, the accelerator is a pretty sweet deal for entrepreneurs.
Free office space and up to $50,000 in cash, not to mention mentorship and introductions, in exchange for absolutely no equity.
How is the Science Center able to do this?
For one, the accelerator has several funding sources. The first class was backed in part by the state, while the second class is funded in part by the federal government. The second class is also being funded by the Science Center itself and its real estate development partner Wexford Science + Technology, said Chris Laing, the Science Center’s VP of Science & Technology.
Another reason the DHA is able to be such a good deal for entrepreneurs is because it’s part of a bigger organization — the Science Center — so it can integrate with the nonprofit’s revenue-generating arms. (That’s different from, say, DreamIt Ventures, a standalone enterprise with one focus.)
That doesn’t necessarily mean the accelerator can be sustainable, though, and Laing acknowledged this.
“Of course there are models for self-sustainability for the program, including partnerships with corporations or investment firms, or ‘value-sharing’ with beneficiaries of the program, and we will investigate a range of possibilities for longer-term continuation of the DHA,” he said through a spokeswoman.

Companies: University City Science Center

Before you go...

Please consider supporting to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

Our services Preferred partners The journalism fund

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!


Philly is ranked one of the world’s best places to found a startup, climbing to No. 25 globally

Ghost Robotics is landing a $240M exit, dodging months of protests over military uses

Coded by Kids drops ‘kids’ but keeps the focus on young people

As a returning citizen, she experienced tech overload. Now she’s fighting to end the digital divide

Technically Media