MassChallenge, $25.8 Million Fund to Support Digital Health Startups
MassChallenge, a Boston-based business accelerator, has unveiled Pulse@MassChallenge, an innovation lab for digital health entrepreneurs, and announced the closing of the $25.8 million Massachusetts Innovation Catalyst Fund, which will invest exclusively in digital healthcare companies that are headquartered or have significant operations in Massachusetts.
Designed to serve as a hub for the local digital health ecosystem, the 8,000-square-foot Pulse@MassChallenge will connect entrepreneurs with providers, investors, corporates and institutions to fuel new ideas.
Among the founding partners for Pulse@MassChallenge are the Commonwealth of Massachusetts, the City of Boston, the Massachusetts Competitive Partnership, Suffolk Construction, Samuels & Associates, Vertex Pharmaceuticals, the Massachusetts eHealth Institute at MassTech, Microsoft, Dell, EMC, TechSpring of Baystate Health, Pfizer, Analog Devices, and Sunovion Pharmaceuticals.
“Massachusetts is home to some of the brightest minds and greatest supporters for digital health, and it’s incredible to see the level of commitment from both the public and private sectors,” said Scott Bailey, managing director of MassChallenge Boston, in a prepared statement. “We’re excited about the opportunity to offer digital health entrepreneurs specialized programming and mentorship through Pulse@MassChallenge so startups can accelerate their impact in the sector.”
In addition to the location in the Fenway neighborhood of Boston, startups will also have access to TechSpring, a healthcare innovation center from Baystate Health located in Springfield, Mass.
MassChallenge is a no-equity and not-for-profit network of accelerators in Boston, the UK, Israel, Switzerland, and Mexico. According to its website, to date, 835 MassChallenge alumni have raised over $1.4 billion, generated over $575 million in revenue, and created over 8,500 jobs.
