Our System for Integrating Startups into the Healthcare Value Chain
The Dreamit HealthTech program is unique among healthcare-focused accelerators because of its singular focus on business development. Startups apply to the program in the hopes of deploying tech solutions into large healthcare organizations. The cornerstone of this effort is the customer immersion program, when startups in the accelerator meet, pitch, and partner with large enterprise health organizations.
Over 60% of recent cohorts have graduated from Dreamit with a new partner or discussions set in motion to engage in pilot programs. The success rate for Dreamit hinges both on the quality of startups coming through the program and the innovative nature of Dreamit customer partners.
Todd Dunn, director of innovation at Intermountain, is one such leader. He is committed not just to the idea of innovation, but to making things happen. (read his full views on innovation here). He established an Innovation Process Model based on four pillars: a theory, a mindset, a toolset for vetting ideas, and a skill set. Before meeting key players like Dunn, the Dreamit team preps startups in the pillars of this model to ensure they make the most of their time.
Who makes up the Dreamit customer network?
At each customer immersion event, we bring executive level decision makers to the table (CEOs, CTOs, CINOs, etc.). Our customer network is evolving constantly, but the following are some of our current and past healthcare customer partners:
Some of the top academic medical institutions in the world, including Penn Medicine, Jefferson Health and Mount Sinai.
Hospital management companies like UHS (24 inpatient acute care hospitals, 3 free-standing emergency departments and 213 inpatient and 16 outpatient behavioral health care facilities), Geisinger (8+ hospitals in Pennsylvania), and Intermountain Healthcare (22 hospitals and a managed care arm.)
Individual hospitals committed to adopting innovative technology, like Jackson Health System, U Health Miami, Baptist Health South Florida, and others.
Payers like Oscar and IBX.
Medical device companies like Zimmer Biomet and Becton Dickinson.
Pharma companies like Merck, Pfizer, and Janssen.
- Companies with a large focus on healthcare such as Accenture (consulting), Digitas Health (marketing), and AARP (advocacy).
What happens during customer immersions?
In "Customer Immersions," startups get an opportunity spend a few hours with some of the key decision makers in the healthcare industry. In these events, startups can set the stage to gain partnerships, collaborate, share data, and engage in other forms of corporate development.
During these events, founders get in front of a group and pitch their products, while various stakeholders can ask questions to gain clarity. After the pitches, startups can meet one-on-one with the relevant personnel, i.e. the people with whom they would be selling or partnering.
For our customer partners, this is an opportunity to step out of their day-to-day roles for innovation-based discussion. It's a way to get some perspective on the new technologies and methods poised to transform healthcare. For Dreamit startups, this is an opportunity to gain invaluable feedback from the notoriously hard to reach executives of healthcare companies.
A Few Sample Results
Three Dreamit startups (TowerView Health, Wellth, and Yosi) are currently validating their products with Penn Medicine.
Tissue Analytics is working with Intermountain Healthcare.
One startup in the long term care space gained three nursing home chain partners.
A cutting edge diagnostic company is working with several brand teams at a major pharmaceutical company to develop promotion and distribution channels.
Customer immersion insights led to the opening of a completely new market segment for a medication safety startup.
Insights from customer immersions enabled a medical device startup to refine its value proposition and secure two large-scale European customers for pilots.
Learn More about Dreamit HealthTech
By Charles LaCalle, Head of Startup Sourcing and Community
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