Startups

Inova Personalized Health Accelerator accepts first company

Rockville-based HeMemics is looking to bring its tests to the clinic. It's an early example of the Virginia health system's effort to help startups.

The ribbon cutting of the Inova Personalized Health Accelerator, Nov. 30, 2017. (Photo by James Cullum)

The Inova Personalized Health Accelerator opened its doors on Wednesday, with a ribbon cutting attended by over 300 guests. Rockville, Md.–based HeMemics was named as the first of six health technology startups that the hospital system will invest in its portfolio by the second quarter of next year.

The startup is developing a test to detect infections, some of which could be picked up in a hospital. It uses an electronic chip and reading system that would allow a test to be completed without sending a sample to the lab.

“We are excited about an opportunity for clinical use of our device,” said John Warden COO of HeMemics. “We have it working very well in controlled environments, but now we have to move it out to a clinical floor for an opportunity to improve on the product.”

The accelerator is located within the Inova Center For Personalized Health – right next door to Inova Fairfax Hospital. As we’ve reported, Inova is offering $75,000 in exchange for 10 percent equity in the companies it accepts – a relatively high $750,000 valuation for an early-stage accelerator. The companies will then run through four-to-five month individualized programs. If founders can raise $250,000 in third-party commitments, then Inova will match the funds.

“An entrepreneur might have an idea on a product that they think may have a disruptive impact on the way that we deliver health care. We’re inviting them here,” said accelerator co-director Rick Gordon. “We work with them to give them the tools, imbue them with a vision and a process and evaluate whether a business makes sense. Generally that takes years and years of trial and error and making mistakes.”

Inova Personalized Health Accelerator Co-Directors Rick Gordon (left) and Mike Thomas. (Photo by James Cullum)

Inova Personalized Health Accelerator Co-Directors Rick Gordon (left) and Mike Thomas. (Photo by James Cullum)

Todd Stottlemyer, CEO of the Inova Center for Personalized Health, said that it’s an exciting and uncertain time for health care.

“Our industry is undergoing dramatic change, including disruption in clinical practice and precision medicine, increased availability to health data and growing consumer engagement and personal wellbeing,” he said. “These changes provide new opportunities for Inova to facilitate development of the next generation of innovations that will improve the way that we deliver care.”

Before you go...

Please consider supporting Technical.ly 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.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

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

Trending

After the election, go to Thanksgiving dinner anyway

How 4 orgs give back to their local tech community

Hispanic tech workers more than double representation in key US cities

Dem tech policy advisor beats fellow tech pro in US House election to rep Virginia’s Data Center Alley

Technically Media