via Tom Cheredar of VentureBeat
The microfund, which will run through apartnership with AngelList, allows accredited investors to crowdfund money for startups. Everyone who participates in DreamIt Austin’s microfund will need to make a $2,500 minimum investment that will fund all nine companies within DreamIt’s Austin program — that means you can’t just pick and chose to fund only the companies you like.
The DreamIt Ventures team is meeting with entrepreneurs at all corners of SXSW. Entrepreneurs interested in one of DreamIt’s upcoming accelerators or getting advice from an experienced entrepreneur and investor should sign up to meet with someone from our team.
Here’s who’s available…
Steve Welch: DreamIt Co-Founder
Kerry Rupp: DreamIt CEO
Karen Griffith Gryga: Managing Partner, DreamIt Funds
Erica Duignan Minnihan: Managing Director, Community
Andrew Ackerman: Managing Director, DreamIt New York
Click here to select a DreamIt partner and time to meet.
William Crowder: Managing Director, DreamIt Access
If you’re interested in DreamIt Access and would like to meet with William Crowder, sign up here.
by Bonnie Halper of AlleyWatch
He’s certainly no stranger to the New York startup scene. And if you’re someone like Andrew Ackerman, who has experienced all sides of the startup coin, from entrepreneur to angel investor to mentor (DreamIt NY and Entrepreneurs Roundtable Accelerator), it seems that the next logical progression is to take that insight and experience you’ve gleaned along the way and step into the top spot as Managing Director of DreamIt Ventures’ New York accelerator.
Ackerman began his career as a consultant to Fortune 100 companies and quickly turned his attention to tech when he worked for Kaplan Online. Later, he joined the founding team of Bunk1.com and built the company into the leading provider of web services in the summer camp industry. He went on to manage a family office, where he was responsible for managing over $50M in alternative assets, as well as incubating new ventures.
“The world is smaller than you think,” said Ackerman when we sat down recently over coffee on Manhattan’s Upper West Side.
It was just last year that he decided to write for the then newly-launched AlleyWatch and profile angel investors. One of the investors he sat down to speak with none other than Mark Wachen, DreamIt New York’s founding Managing Director, who is now Managing Director Emeritus and still very much involved with the accelerator. His new position will give him more time to focus on his passions – advising and mentoring the companies.
by Stephanie Baum of MedCityNews
It’s a bit surreal to go to a science fair at a hospital. But the group of health IT companies from DreamIt Venture’s accelerator coupled with demonstrations of technology from Children’s Hospital of Philadelphia and University of Pennsylvania helped set the scene for a new initiative by DreamIt that’s starting at CHOP. The program is designed to help companies and institutions develop enterprise software and commercially viable companies.
DreamIt Ventures’ Open Canvas@CHOP is a one-year program at the pediatric hospital to help it further develop its reputation for pediatric innovation but in enterprise software. The program will also see two teams from the institution take part in DreamIt Health’s next accelerator class in Philadelphia this summer.
“The Science Fair is to open people’s minds and see some of these ideas in their infancy,” said Steven Welch, a founding partner with DreamIt Ventures. He told MedCity News that the Open Canvas program fits in with a broader trend of companies wanting to do a better job of using their employees’ innovative ideas to improve their business. It piloted the program in Austin with Korean company SK and plans to expand the Open Canvas program to companies in other locations where DreamIt has a presence, such as New York, Tel Aviv and, most recently, Baltimore.
by Harrison Webber of VentureBeat
Mark Wachen, the founding managing director of DreamIt Ventures New Yorksince 2011, has been replaced by Andrew Ackerman, a serial entrepreneur and angel investor. With this change, Wachen will take on the title of managing director emeritus and will shift his focus towards mentoring DreamIt’s portfolio companies.
According to Ackerman, there’s no bad blood in this change. “Mark was personally happy to give me the logistics and operations side,” says Ackerman.
Ackerman tells VentureBeat that in addition to his new role, DreamIt has hired former STAR Angel Network director Erica Duignan Minnihan to serve as managing director of community. Ackerman will report directly to DreamIt managing partner Kerry Rupp, as did Wachen.
via Harrison Webber of VentureBeat
Think selfies are narcissistic? Yevvo wants you to live-stream your life.
Tel Aviv-based Yevvo raised a new round of funding today — $3.7 million, to be exact — with hopes of convincing you to casually broadcast your life in real-time to your friends.
Yevvo is not alone in this space; it faces major competitors, including Livestream and Google’s Hangouts on Air service. That said, Yevvo’s emphasis on spontaneous video streaming takes the “event” out of Livestream’s “live events.”
The current startup ecosystem is one to be optimistic about, overall. Different industries are being disrupted, launching a startup is cheaper than ever before, and there are many organizations and programs dedicated to mentoring and fostering these businesses.
As Paul Graham, Founder of Y Combinator, says, the biggest decision startup investors have to make is determining whether the startup is going to take off at some point in the near future or whether it will fizzle out. Granted that even veterans in the angel investing space have made poor decisions by passing on, what later became, wildly successful startup opportunities, there are some basic screening guidelines startup investors should observe to help increase the likelihood of getting a greater return on their investment. This particular subject is something that I am fascinated by given that the company I cofounded, RockThePost, a leader in the startup investing space, has to review thousands of applications per year, when ultimately only a faction make it through to fundraising on our platform.
I gathered insights from David Bookspan, Founding Partner of DreamIt Ventures, David Cohen, Founder of TechStars, and Halle Tecco Co-Founder and CEO of Rock Health on how they sift through thousands of applications and the key factors they look for in a startup. TechStars for instance, a well-known accelerator, which was founded in Boulder, Colorado, but now operates in a dozen markets, sifts through approximately 12,000 applications per year.
via Harold Brubaker of The Philadelphia Inquirer
Independence Blue Cross said Monday that it would invest up to $50 million in health-related venture funds and individual start-up companies that could help the region’s largest health insurer improve quality and reduce the cost of health care.
The time frame for the investments by the Strategic Innovation Portfolio has not been determined, but IBC chief executive Daniel J. Hilferty estimated that it would be five to seven years.
The investment fund is a new element in a multipronged effort – now consolidated in what is called the IBC Center for Health Care Innovation – to turn the Philadelphia region into what Hilferty called “the national magnet” for companies developing technologies that could improve health care.
via Sarah Gantz of the Baltimore Business Journal
National health organizations are constantly updating the treatment guidelines doctors are expected to follow. These guidelines come to hospitals and doctors daily and must be manually added to the hospital’s electronic record-keeping system. It’s drudgery, and at one time was the domain of Noah Weiner while working at Johns Hopkins Hospital.
That work led him to ask a question that has sparked many an entrepreneurial venture: “There must be a better way to do this.”
And that’s how Weiner and his brother Nate Weiner, who worked in Hopkins’ facilities department, got the idea for a new virtual marketplace where hospitals and doctors could more easily access new treatment guidelines from national health organizations.
DreamIt Ventures today announced the slate of nine healthtech startups entering its Baltimore accelerator and the addition of Kaiser Permanente as a strategic partner for the program, joining other industry leaders Johns Hopkins University and Northrop Grumman Corporation and economic development organization BioHealth Innovation.
The cohort of startups, recruited from around the world, will start a four-month startup bootcamp that includes seed capital, coaching from successful tech entrepreneurs, workspace, access to resources across leading healthcare organizations, and an intense curriculum at the intersection of healthcare, business, technology and design. The program is designed to help the companies rapidly find product market fit, achieve key business milestones and remove obstacles otherwise in the path of their success in delivering new products and services that target meaningful problems.
DreamIt Health Baltimore builds on the success of an earlier collaboration in Philadelphia with Penn Medicine and Independence Blue Cross. That program was an enhancement and specialization of the accelerators DreamIt has operated since 2008 and which have helped over 125 companies develop, launch and support pioneering technology solutions for a wide range of industries and customers. A critical element of the DreamIt Health program is the strong relationship and collaboration with industry leaders that helps shape the startups’ product design and who often become their strategic partners and first customers.