Jul
16
DreamIt Health Philadelphia announces its next cohort of tech startups


IBC, Penn Medicine and DreamIt Ventures to help speed their solutions to market

PHILADELPHIA – July 16, 2014Independence Blue Cross (Independence), Penn Medicine,and DreamIt Ventures today announce the cohort of nine health-tech startups selected to participate in DreamIt Health Philadelphia 2014, the third cycle of DreamIt’s health-tech accelerator and second held in Philadelphia. The startup teams, recruited from around the country, will participate in a 16-week boot camp from July 21 through November 7 to rapidly achieve key business milestones in building high-growth potential companies. DreamIt Health will host a reception from 4 to 6 p.m. for the Philadelphia entrepreneurial community at the Wharton School of the University of Pennsylvania in Philadelphia to welcome the companies and celebrate the program’s launch.

Independence, Penn Medicine, and DreamIt Ventures jointly selected the companies based on the strength of their teams and the significance of the problems they are tackling within the health care sector. Each team will receive $50,000 in seed capital; coaching from successful tech entrepreneurs; an intense curriculum at the intersection of health care, business, technology and design; free workspace at the Innovation Center @3401 (ic@3401), on the campus of the University City Science Center; and access to people and resources across leading health care organizations, which are typically out of reach to startups.

The capstone event of the program, Demo Day, will be held on October 30 and affords each team the opportunity to share their progress to date and plans for the future with an audience of several hundred investors, industry leaders, potential customers and the press.

“As we saw from the success of last year’s DreamIt class, Philadelphia is an ideal environment for health care innovation, and we are excited to once again participate in this powerful partnership,” said Independence President and CEO Daniel J. Hilferty. “With the rapid changes in health care, we absolutely have to find new ways to solve problems. That’s why it’s vital to invest our energy, expertise and other resources in helping these promising startups build and test their products and services.”

“We look forward to continuing our role in driving valuable advances in health care delivery through this program,” said Ralph Muller, CEO of the University of Pennsylvania Health System. “We remain steadfast in our commitment to sharing our expertise and working with our partners to build on this initiative’s early successes.”

Last year’s inaugural DreamIt Health class brought six promising health care startups from across the country to Philadelphia to work alongside four Philadelphia-born startups on a wide range of significant health care issues, including hospital readmissions, cost transparency, health care payments, clinical communications and mobile diagnostics.

“DreamIt Health provided us so much more than funding,” said Eric King, co-founder of Grand Round Table, a graduate of the 2013 DreamIt Health class. “The opportunity to connect with companies like Independence Blue Cross and Penn Medicine was truly invaluable. The anonymous claims data that Independence provided has helped us to solidify our value proposition, helping doctors find appropriate diagnoses faster and reducing the number of unnecessary tests and treatments.”

The incoming teams are:

BioBots (Philadelphia, PA): Low-cost 3D printers that support multiple biomaterials for creating biological structures without mutation risk.

Drop Diagnostics (Philadelphia, PA): Rapid disease diagnosis through detection of signature proteins using carbon nanotubes and microfluidics.

FlexiSched (Philadelphia, PA): Dynamic scheduling of patients, predicting no-shows and accounting for variable provider productivity and visit length.

NarrativeDx (Austin, TX): Big data analysis of patient feedback to improve the hospital customer experience and maximize Medicare reimbursement.

RegDesk  (Bear, DE): The leading marketplace for matching biotech and device companies with freelancing regulatory expertise around the world.

Ristcall (Pittsburgh, PA): Updating the call button with a wearable for inpatients to communicate on-demand with nursing staff.

Tissue Analytics (Baltimore, MD): Remote management of wound healing through image analysis of mobile-generated photos.

TowerView Health (Chicago, IL/Houston, TX/Washington, DC/San Francisco, CA): Improved patient adherence to complex, multi-drug regimens using novel “smart” pillboxes.

TrueClaim (Philadelphia, PA/Jacksonville, FL): Reduction of upcoding and fraud in health care claims submissions.

“We’re excited to start our work alongside some of the most promising health-tech startups in the nation,” said Dr. Elliot Menschik, DreamIt Venture’s managing partner for health care. “It will be an intense and transformative 16 weeks for these teams as we coach them through the most volatile period of a company’s life and as we wire them into people, resources and opportunities that are significant shortcuts to success in the market.

About DreamIt Ventures
DreamIt Ventures helps exceptional people build exceptional companies. DreamIt operates accelerators in New York, Philadelphia, Austin, and Baltimore. Since its founding in 2008, DreamIt has helped 145 startups reduce risk and speed to market including: Adaptly, LevelUp, Parsely, SeatGeek, MindSnacks, SnipSnap, Peeractive, TrendKite and Biomeme. DreamIt Ventures is headquartered at the Innovation Center @3401, a collaboration between the University City Science Center and Drexel University that is located on the Science Center campus in Philadelphia. More information about DreamIt Ventures is available at www.dreamitventures.com, or via email at info@dreamitventures.com.

About Independence Blue Cross
Independence Blue Cross is the leading health insurer in southeastern Pennsylvania. With our affiliates, we serve nearly 8.8 million people nationwide, including 2.5 million in the region. For more than 75 years, we have been enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn moreabout how we’re changing the game, visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.

About Penn Medicine
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania (founded in 1765 as the nation’s first medical school) and the University of Pennsylvania Health System, which together form a $4.3 billion enterprise.

The Perelman School of Medicine has been ranked among the top five medical schools in the United States for the past 16 years, according to U.S. News & World Report’s survey of research-oriented medical schools. The School is consistently among the nation’s top recipients of funding from the National Institutes of Health, with $398 million awarded in the 2012 fiscal year.

The University of Pennsylvania Health System’s patient care facilities include: The Hospital of the University of Pennsylvania — recognized as one of the nation’s top “Honor Roll” hospitals by U.S. News & World Report; Penn Presbyterian Medical Center; Chester County Hospital; Penn Wissahickon Hospice; and Pennsylvania Hospital — the nation’s first hospital, founded in 1751. Additional affiliated inpatient care facilities and services throughout the Philadelphia region include Chestnut Hill Hospital and Good Shepherd Penn Partners, a partnership between Good Shepherd Rehabilitation Network and Penn Medicine.

Penn Medicine is committed to improving lives and health through a variety of community-based programs and activities. In fiscal year 2012, Penn Medicine provided $827 million to benefit our community.

 

Apr
30
DreamIt Health Baltimore startups unveil their products, progress and future plans


After 4-month accelerator, startups demonstrate the impact of capital, coaching and access to rarefied resources

BALTIMORE April 29, 2014 DreamIt Ventures, the Johns Hopkins University and John Hopkins Medicine, Northrop Grumman Corporation, BioHealth Innovation and Kaiser Permanente, are hosting Demo Day for the cohort of healthtech startups that spent the last 16 weeks in the DreamIt Health Baltimore accelerator program. The event will be held tomorrow, April 30, 2014 from 11 a.m. to 3 p.m. at the Sheikh Zayed Auditorium (2119A) at the Johns Hopkins Hospital, 1800 Orleans St., Baltimore, MD.  The presenting companies will have the opportunity to briefly share their progress and future plans before an audience of several hundred investors, industry leaders, potential customers, members of the press and other colleagues. A webcast of the event will be broadcast through the Johns Hopkins UStream channel here.

“Demo Day is our capstone event, literally giving our portfolio companies a platform from which to share their stories, accomplishments to date and their roadmap for the future before a select audience of potential investors, partners and customers,” said Elliot Menschik, Managing Partner of DreamIt Health.

The DreamIt Health Baltimore accelerator program began in mid-January and was designed to help the companies achieve one or more major business milestones in a compressed period of time by removing obstacles and giving them access to resources typically out of reach to startups. The companies received access to key individuals and resources at Johns Hopkins, Northrop Grumman, and Kaiser Permanente, who helped the companies further explore their solutions and develop relationships critical for launching their products in real-world situations.

DreamIt Health Baltimore 2014 includes the following startups:

Aegle is developing a wearable device that measures multiple vital signs from a single location with applications in a variety of sectors.

Avhana Health integrates with electronic medical records at the point of care to guide providers to follow industry best practices, improving outcomes and enabling them to capture more revenue.

Cognuse helps stroke and brain injury patients to recover faster through a mobile tests, rehabilitation plans and serious games.

emocha is a mobile health platform for remote patient management that improves patient adherence with prescribed regimens and to enable major public health initiatives in the US and abroad.

Protenus helps hospitals protect patient privacy by detecting and preventing data breaches by insiders.

Respi is developing a mobile spirometer and data management platform to bring the promise of personalized medicine to millions of respiratory disease patients.

PatientFeed is a mobile application that enables inpatient physician-teams to collaborate and coordinate care, saving time and reducing medical errors.

Phobious helps people overcome their fears and anxieties through virtual and augmented reality on mobile devices.

Quantified Care helps medical professionals adopt and get the most out of the exploding number of mobile medical devices from EKGs to ophthalmoscopes.

DreamIt Ventures and its strategic partners selected the companies in the program based on the strength of their founding teams, the market potential of their solutions, and their progress prior to entering the program. Startups selected to participate in DreamIt Health programs receive $50,000 in seed funding, coaching from exited entrepreneurs and industry, and access to key people and resources across the industry to develop relationships, strategic alliances and real-world implementations of their solutions. Additionally, the companies received free workspace at Bond Street Warf in Fells Point and donated counsel from four of the region’s leading law firms: DLA Piper, Duane Morris, Saul Ewing, and Venable LLP.

Beyond DreamIt Ventures, Johns Hopkins University, Northrop Grumman, and Kaiser Permanente the companies and the program are supported by a wide range of economic development agencies and leading law firms including BioHealth Innovation, the leading organization responsible for transforming the Central Maryland region into a leading global bio-health entrepreneurial and commercialization hub; the Maryland Department of Business and Economic Development and the Economic Alliance of Greater Baltimore

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About DreamIt Ventures
DreamIt Ventures helps exceptional people build exceptional companies.  We believe that if you create a community of entrepreneurs working side-by-side on their various companies, strip away as many impediments as possible, and make as many resources available as possible, some magic can happen in a short period of time.  DreamIt operates accelerators in New York, Philadelphia, Austin, Baltimore and Tel Aviv.  Since its founding in 2008, DreamIt has launched 145 companies including: Adaptly, LevelUp, Parsely, SeatGeek, MindSnacks, SnipSnap, Reactor, Peeractive, TrendKite and Biomeme. More information about DreamIt Ventures is available at www.dreamitventures.com, or via email at info@dreamitventures.com.

About The Johns Hopkins University
The Johns Hopkins University is a global leader in discovery, education and professional practice, dedicated since 1876 to putting knowledge to work for humanity. Johns Hopkins was established on what was then a revolutionary idea, that universities must do more than teach the collected wisdom of the past. Founding President Daniel Coit Gilman argued that they must also advance human knowledge and apply that knowledge for the common good. Gilman’s philosophy guides today’s Johns Hopkins, where faculty and students are partners in learning and discovery. Together, they explore what makes us human culture and society, art and literature, life science, health and medicine. Together, they study what drives the universe in which we live. Together, they learn how to use their knowledge to make tomorrow better.

About Northrop Grumman
Northrop Grumman is a leading provider of health IT solutions and services, supporting the continuum of health and human services for federal civilian, military, state, local and international customers. Through the integration of health expertise and information technology, the company supports national health goals to enhance benefits systems solutions, increase the quality and efficiency of health care and improve the health of the population. Additional details are available at www.northropgrumman.com/healthit. Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit http://www.northropgrumman.com for more information.

About Kaiser Permanente of the Mid-Atlantic States
Kaiser Permanente of the Mid-Atlantic States region, headquartered in Rockville, Maryland, provides and coordinates complete health care services for more than 500,000 members through 29 medical centers in Maryland, Virginia, and Washington, D.C. Founded in 1980, Kaiser Permanente of the Mid-Atlantic States is a total health organization comprised of Kaiser Foundation Health Plan of the Mid-Atlantic States, Inc., and the Mid-Atlantic Permanente Medical Group, P.C., an independent medical group that features more than 1,000 physicians. Kaiser Permanente of the Mid-Atlantic States was ranked in the nation’s 20 top commercial health plans and 10 top Medicare health plans — and the No. 1 Commercial and Medicare plan for Maryland, Virginia, and Washington, D.C. — by “NCQA Health Insurance Plan Rankings 2013-2014 Private.” For more information about Kaiser Permanente of the Mid-Atlantic States, visit kp.org or follow us on Twitter, twitter.com/KPMidAtlantic.

About BioHealth Innovation
BioHealth Innovation, Inc., is a regional innovation intermediary focused on commercializing market-relevant bio-health innovations and increasing access to early-stage funding in Maryland. Learn more at www.biohealthinnovation.org.

About Economic Alliance of Greater Baltimore (EAGB)
The Economic Alliance was created to serve as a not-for-profit economic development organization led by a partnership of regional business executives, elected government officials and leaders from higher education focused on fostering business retention and development, job creation, workforce development and new investment throughout the Greater Baltimore region. For more information, visit www.GreaterBaltimore.org.

About Maryland Department of Business and Economic Development
The Maryland Department of Business and Economic Development stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit www.choosemaryland.org.

Media Contact
Dana Rygwelski
DreamIt Ventures
424.235.0746
dana@dreamitventures.com

 

 

Apr
08
Cloudamize Launches Cloud Estimator To Simplify Infrastructure Migration to AWS


Philadelphia, PA (PRWEB) April 08, 2014Cloudamize, the leading cloud performance management platform for Amazon Web Services, today announced the general availability of Cloud Estimator to help organizations build the business case to move infrastructure to the Cloud. By analyzing workloads on current physical servers and virtualized machines over a period of time, Cloud Estimator provides the precise settings and total cost of ownership (TCO) to support those applications on AWS.

“Cloudamize gave us the data we needed to make an informed and confident decision regarding migration to AWS,” commented Ryan Wise, Vice President, IT at SCI.

Prior to Cloud Estimator, many organizations blindly projected their costs and performance requirements manually because they lacked automated tools. As a result, they often miscalculated the planned environment which commonly led to longer decision cycles, incorrect provisioning during and after migration, and dissatisfaction when costs where higher than anticipated.

Continue Reading→

Mar
06
DreamIt Ventures Announces Microfund for DreamIt Austin 2014 on AngelList


Accredited investors will have the opportunity to invest
in the 9 companies participating in DreamIt Austin via AngelList

March 6, 2014 (Austin, Tx): DreamIt Ventures (“DreamIt”), a leading technology accelerator for entrepreneurs, announced today a partnership with AngelList that will establish a microfund for the current DreamIt Austin companies and give accredited investors the opportunity to invest in the entire cohort simultaneously.

While crowdfunding sites have long allowed individual, accredited investors to back startups, the AngelList’s class funds are the first to enable investors to back an entire cohort at once.

“We are extremely excited to offer this opportunity to the companies participating in our current DreamIt Austin accelerator and thrilled to offer investors a convenient way to access to our highly curated portfolio  companies,” said Karen Griffith Gryga, Managing Partner of DreamIt Funds. “At DreamIt we build high-impact partnerships that support and further our companies. Our AngelList class fund provides our companies with more resources to achieve significant milestones in their development and the opportunity for investors to invest in a diverse portfolio of high quality companies and entrepreneurs from around the world, at pre-Demo Day valuations.”

The money raised through the AngelList fund is in addition to the benefits participating startups receive at DreamIt, including: seed funding up to $25,000; intensive coaching and mentorship; a collaborative workspace; and access to exclusive opportunities to engage with leading entrepreneurs, business executives, and service providers. The program’s capstone, for all tracks, is the opportunity to pitch to a room full of investors at Demo Day.

“DreamIt truly goes out of their way to provide the best resources and opportunities for their companies,” said Julia Andalman CEO of SWAN, a company currently participating in DreamIt Austin. “They provide us a place to co-work, help us navigate the pulse tech scenes nationwide, bring in top-tier subject matter experts and investors, provide seed funding, and now a platform for us to raise capital before the program ends. It’s been rigorous, but with the opportunities DreamIt offers, we know we are being set up for success.”

More information on the DreamIt class fund on AngelList is available at http://angel.co/dreamit-austin-2014.

Applications are now open for DreamIt New York 2014. DreamIt Ventures is planning for two more cycles in 2014, outside of DreamIt NY, including a DreamIt Health Philadelphia program in the Summer 2014 and a traditional DreamIt Philly accelerator in the Fall. Schedules and locations for upcoming DreamIt accelerators can be found here.

ABOUT DREAMIT VENTURES
DreamIt Ventures helps exceptional people build exceptional companies.  We believe that if you create a community of entrepreneurs working side-by-side on their various companies, strip away as many impediments as possible, and makes as many resources available as possible, some magic can happen in a short period of time.  DreamIt operates accelerators in New York, Philadelphia, Austin, Baltimore and Tel Aviv.  Since its founding in 2008, DreamIt has launched 127 companies including:

Adaptly, LevelUp, Parsely, SeatGeek, MindSnacks, SnipSnap, Reactor, Peeractive, TrendKite and Biomeme. More information about DreamIt Ventures is available at www.dreamitventures.com, or via email at info@dreamitventures.com.

Mar
06
IBC, Penn Medicine, and DreamIt Ventures partner on startup accelerator to solve key healthcare problems


DreamIt Health Philadelphia now accepting applications for summer 2014  

PHILADELPHIA – March 6, 2013Independence Blue Cross (IBC), Penn Medicine, and DreamIt Ventures today announced that DreamIt Health Philadelphia, the region’s first healthcare accelerator, is now  accepting applications from startup teams worldwide for its second Philadelphia healthtech program to begin in July.

Last year’s inaugural DreamIt Health class brought six promising healthcare startups from across the country to Philadelphia to work alongside four Philadelphia-born startups on a wide range of significant healthcare problems, including hospital readmissions, cost transparency, healthcare payments, clinical communications, and mobile diagnostics. All ten companies, eight of which are still in the region, are continuing to execute successfully and achieve key business milestones from pilot implementation to revenue and profitability.

IBC and Penn Medicine, both leading health care institutions in the Philadelphia region, are deeply committed to helping the startup teams succeed through DreamIt Health. In June, DreamIt Health will select up to 10 early-stage companies from applicants from around the world in the healthcare sector, based on the strength of their teams, their market potential, and their traction to date. Beyond a stipend of $50,000 each, IBC and Penn Medicine will provide these promising young companies with mentoring, business contacts, and other critical resources, including access to claims and clinical data and technology the companies need to shape and implement novel solutions.

We are very encouraged by the success of DreamIt Health last year in attracting exciting, innovative health care startups to our region, and by their enormous potential to apply technology to the challenges of keeping people healthy and providing more effective, affordable care,” said IBC President and CEO Daniel J. Hilferty. “Partnerships like ours with DreamIt Health are critical to helping us transform our region into a national magnet for healthcare innovation, investment, and employment.”

DreamIt Health will accept applications through May 16 from startups worldwide in the healthcare sector, and expects by June 16 to select up to 10 early-stage healthcare companies. During the four-month boot camp starting July 18, the teams will work in space specifically designed to house and support startups at DreamIt Ventures headquarters at the Innovation Hub at 3401 Market Street in Philadelphia.

“Keeping up with the pace of healthcare delivery changes in the 21st century is a challenge, and partnering with these startups is key to this pursuit,” said Ralph Muller, CEO of the University of Pennsylvania Health System. “These tech innovators mirror many of Penn Medicine’s commitments to patients, staff, and students, and together we can make Philadelphia even more of a hub for the future of medicine.”

Each participating team will receive a stipend of $50,000, in-depth coaching from successful entrepreneurs, and access to other critical healthcare-specific resources to rapidly develop and test its product, validate its business model with potential customers, and launch the product. The program will culminate in a “Demo Day” when the participating companies will present their progress to date and future plans to an audience of leading investors and industry figures. Interested applicants can apply at www.dreamitventures.com/apply

“Many of healthcare’s most challenging problems are at the intersection between the doctor or hospital and the health insurer, but startups don’t typically have early access to the customers and users they need to fully grasp the problems, craft meaningful solutions and then rapidly implement and test them in real-world environments,” said Elliot Menschik, DreamIt Venture’s Managing Partner for healthcare. “What makes DreamIt Health unlike any other accelerator is the depth and intensity of collaboration among the DreamIt teams and our strategic partners to more rapidly develop and deliver enterprise-grade products that create real value for customers and the foundation for scalable businesses.”

DreamIt has helped speed to market 145 companies over the past five years, approximately half of whom have sought outside investment and have successfully raised $110 million with an enterprise value approaching half a billion dollars, Menschik noted.

Independence Blue Cross recently announced the creation of a Strategic Innovation Portfolio, which will invest up to $50 million in health related venture funds and early stage companies, such as the businesses in the DreamIt 2013 class, and any future classes with DreamIt.

About Independence Blue Cross
Independence Blue Cross is the leading health insurer in southeastern Pennsylvania. With our affiliates, we serve more than 7.5 million people nationwide, including 2.2 million in the region. For more than 75 years, we have been enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more about how we’re changing the game, visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.

About Penn Medicine
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania (founded in 1765 as the nation’s first medical school) and the University of Pennsylvania Health System, which together form a $4.3 billion enterprise.

The Perelman School of Medicine has been ranked among the top five medical schools in the United States for the past 16 years, according to U.S. News & World Report’s survey of research-oriented medical schools. The School is consistently among the nation’s top recipients of funding from the National Institutes of Health, with $398 million awarded in the 2012 fiscal year.

The University of Pennsylvania Health System’s patient care facilities include: The Hospital of the University of Pennsylvania — recognized as one of the nation’s top “Honor Roll” hospitals by U.S. News & World Report; Penn Presbyterian Medical Center; Chester County Hospital; Penn Wissahickon Hospice; and Pennsylvania Hospital — the nation’s first hospital, founded in 1751. Additional affiliated inpatient care facilities and services throughout the Philadelphia region include Chestnut Hill Hospital and Good Shepherd Penn Partners, a partnership between Good Shepherd Rehabilitation Network and Penn Medicine.

Penn Medicine is committed to improving lives and health through a variety of community-based programs and activities. In fiscal year 2012, Penn Medicine provided $827 million to benefit our community.

About DreamIt Ventures
DreamIt Ventures helps exceptional people build exceptional companies.  We believe that if you create a community of entrepreneurs working side-by-side on their various companies, strip away as many impediments as possible, and makes as many resources available as possible, some magic can happen in a short period of time.  DreamIt operates accelerators in New York, Philadelphia, Austin, Baltimore and Tel Aviv.  Since its founding in 2008, DreamIt has launched 127 companies including:  Adaptly, LevelUp, Parsely, SeatGeek, MindSnacks, SnipSnap, Reactor, Peeractive, TrendKite and Biomeme. More information about DreamIt Ventures is available at www.dreamitventures.com, or via email at info@dreamitventures.com.

Feb
24
DreamIt Ventures Brings Two Leading Talents to the Team and New York Community


Mark Wachen Is Named Managing Director Emeritus, DreamIt New York;
Andrew Ackerman Is Named Managing Director, DreamIt New York;
Erica Duignan Minnihan as Managing Director, Community

NEW YORK, NY– (Feb 24, 2014) - DreamIt Ventures (“DreamIt”), a leading accelerator for startups, announced today that Mark Wachen has become Managing Director Emeritus, Andrew Ackerman has joined the team as Managing Director of DreamIt NY, and Erica Duignan Minnihan has joined as Managing Director, Community. Mark is well known to the New York tech community, leading DreamIt NY since 2011 as founding Managing Director. As Managing Director, Andrew will be taking over the operations of DreamIt NY, allowing Mark as Managing Director Emeritus to focus on his passion for mentoring and advising the DreamIt companies. As Managing Director, Community, Erica will be working with the entire startup community to build on DreamIt’s pivotal role within it.

Andrew is a recovering consultant turned serial entrepreneur, startup mentor, and angel investor; he is also a contributing writer to AlleyWatch.com, a leading destination for startup news in New York City. His career began as a consultant to Fortune 100 companies and quickly turned the way of tech when he worked for Kaplan. Later, Andrew 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. Andrew is an active mentor with DreamIt alumni and has deep personal and professional experience of the startup journey.

Andrew commented, “I used to joke that all it would take to make me happy is to pull up a chair at a local Starbucks and meet with interesting startup after startup so this is basically my dream job – no pun intended, I swear! Mark is getting me up to speed on the operations side of DreamIt New York and has been great at making this a really smooth transition.”

Erica Duignan Minnihan is joining DreamIt Ventures as the Managing Director, Community. After a successful career in investment banking with firms including Cantor Fitzgerald, Citigroup, and Credit Suisse, Erica found the force within her and became the first Executive Director of Golden Seeds, a national early-stage investor group investing in women entrepreneurs. Erica also was the Executive Director of STAR Angel Network, a membership organization for professional athletes and celebrities making investments in high-growth, early-stage startups.

Based in NY as Managing Director, Community, Erica will focus on finishing the raise for DreamIt Fund II (which invests in DreamIt alumni companies), business development, sponsorships, investor relations and company recruiting. Erica also will lend support for DreamIt NY.

“I am delighted to be part of such a great team,” Erica noted. “We have an incredible startup community here that has grown fast and deep over the last few years, and yet there is so much opportunity for further growth. I look forward to helping DreamIt extend its position as a gravitational force in this community and to continue helping great people build great companies.”

No one is happier with the addition of Andrew and Erica than Mark Wachen, DreamIt NY’s founding Managing Director. “Andrew and Erica are terrific additions to the DreamIt team. We are off to a great start, and I can’t wait to see what we can accomplish in DreamIt NY 2014 with our combined skills and talents,” said Wachen.

The additions of Andrew and Erica are the latest moves by DreamIt to strengthen its service to the NY startup community. Earlier this year, DreamIt and Comcast Ventures announced their joint commitment to continue DreamIt Access – the dedicated effort to launch more minority-led tech startups — as part of DreamIt NY and DreamIt Philadelphia. “The underlying premise of DreamIt Access is that the primary barrier for minority entrepreneurs has been access to capital, resources, mentors and networks,” said William Crowder, Managing Director of DreamIt Access. “DreamIt Access breaks down those barriers, and gives minority entrepreneurs the same access to those advantages as all other DreamIt Companies. DreamIt Access has been a great success and I am thrilled that both Comcast Ventures and DreamIt have committed to continue this program which gives minority-led companies an opportunity to shine,” said Crowder.

Kerry Rupp the CEO of DreamIt Ventures is proud of the team she is putting on the field. “Mark has done a terrific job building DreamIt NY. With Mark, Andrew, Erica and William, we have 4 partners serving DreamIt NY and a team that is replete with exceptional startup, operational and investment experience and strong networks,” said Rupp. “DreamIt NY is positioned to be the preeminent startup accelerator in New York.”

Applications for DreamIt New York 2014 are now open. DreamIt NY will run from May through August 2014.

ABOUT DREAMIT VENTURES
DreamIt Ventures helps exceptional people build exceptional companies. We believe that if you create a community of entrepreneurs working side-by-side on their various companies, strip away as many impediments as possible, and makes as many resources available as possible, some magic can happen in a short period of time. DreamIt operates accelerators in New York, Philadelphia, Austin, Baltimore and Tel Aviv. Since its founding in 2008, DreamIt has launched 127 companies including:
Adaptly, LevelUp, Parsely, SeatGeek, MindSnacks, SnipSnap, Reactor, Peeractive, TrendKite and Biomeme. More information about DreamIt Ventures is available at www.dreamitventures.com, or via email at info@dreamitventures.com.

 

Feb
19
LearnBop Wins Top Honors in “Shark-Tank” Type Competition, Sponsored by Silicon Valley Education Foundation and NewSchools Venture Fund


via eSchoolnews.com

Automated Tutoring System for Math to Be Put to the Test by “iHub Fellows,” Santa Clara County Teachers

NEW YORK – Feb. 19, 2014 – LearnBop is a winner of the first-ever “iHub Pitch Games” challenge in Silicon Valley. The competition, sponsored by the Silicon Valley Education Foundation (SVEF) and NewSchools Venture Fund, featured 10 companies that pitched their middle school math programs to a panel of sharp critics – educators and business leaders – who grilled them about their programs, then picked the top four. Think TV’s “Shark Tank.”

“This was a perfect collaboration of educators and entrepreneurs. It was a great success all around,” said SVEF CEO Muhammed Chaudhry. “What better way to bring product and user together to figure out how to best utilize each other’s knowledge and to benefit students. LearnBop is a prime example of the quality of the talent represented in that room.”

As a result of its success in this competition, LearnBop earned the opportunity to put its on-demand, automated math tutorial to the test with Santa Clara County teachers -– called “iHub Fellows” – in their classrooms from February to May 2014.

According to LearnBop’s Founder & CEO, Bharanidharan Rajakumar, “LearnBop was created to help teachers ensure that every math student receives individualized attention according to his or her unique learning challenges. Our authoring system and tutorial software has enabled some of the nation’s top math teachers to replicate how they would teach each individual student in a one-on-one tutoring scenario. The teaching and learning experience is supported by the collection of user data that provides insights into student learning not possible from traditional teaching methods.”

The “iHub Pitch Games” is the first event to come out of the SVEF-NewSchools Venture Fund’s “Learning Innovation Hub (iHub)” project, a network that offers product testing and feedback for e-learning tools. The project is funded by a Bill & Melinda Gates Foundation grant.

Continuing Rajakumar said, “We are very proud that LearnBop stood up to the three hours of intense Shark-Tank-like grilling from this stellar panel of leaders in education and technology. It will be exciting to collaborate with Santa Clara County teachers as they discover the ways that our automated tutoring program can help ensure that all students are on track for learning the math skills necessary for success in school, college and career.”

The panel of business leader judges included: Former Adobe CEO Bruce Chizen; Brocade Chairman of the Board David House; NFL Hall of Famer Ronnie Lott; Menlo Ventures Managing Director and Handle, Inc. CEO Shawn T. Carolan, and President & CEO of SGI Jorge Titinger.

The educator panel included: Evergreen School Supt. Kathy Gomez; Santa Clara County Office of Education Director of Technology Programs & Instructional Support Craig Blackburn, and Ida Jew Academy Principal and edtech entrepreneur Blanca Herrera.

About LearnBop (http://www.LearnBop.com)
LearnBop is an award-winning adaptive learning company that originated out of Carnegie Mellon University and is now based in New York City. The LearnBop platform constantly collects data to create feedback loops for continuous improvement of student performance, teacher effectiveness, and even the efficacy of the content within the system itself. Data are organized into intuitive dashboards that provide teachers with a dynamic view of class performance down to each individual student. This means teachers can provide both individualized instruction, as well as better-informed group instruction based on the unique learning contours and performance of their own classroom. Its easy-to-use authoring system enables educators to create adaptive learning experiences for students in any STEM-related subject at the K12 or higher ed level.

For more information, media only:
Lisa Wolfe , L. Wolfe Communications, lwolfe@lwolfe.com, 773-278-2800

Jan
20
DreamIt Ventures and Comcast Ventures Sign Two-Year Partnership to Support Minority-Led Startups in New York and Philadelphia


Applications for the Summer 2014 NYC program are now open.

JANUARY 20, 2014 – New York, NY and Philadelphia, PA – Renowned global startup accelerator DreamIt Ventures today announced that Comcast Ventures has agreed to support the DreamIt Access track for two more years. DreamIt Access, the dedicated effort to launch more minority-led tech startups, will return to DreamIt’s New York City and Philadelphia accelerators for the next two years with the ability to support up to 20 companies over the course of four cycles. Applications for DreamIt NYC 2014 are now open.

As with all DreamIt programs, DreamIt Access offers seed funding up to $25,000; incorporates intensive coaching and mentorship; provides a collaborative workspace; and provides access to exclusive opportunities to engage with leading entrepreneurs, business executives, and service providers. The program’s capstone, for all tracks, is the opportunity to pitch to a room full of investors at Demo Day.

“DreamIt and Comcast Ventures have worked together since 2011 to develop a platform for launching high potential startups with minority founders.  It is exciting to see this partnership continue with a multiyear commitment.  Gaining access to critical information, startup leaders, top-notch mentorship, and a network of entrepreneurial peers is the foundation of DreamIt Access, and it continues to be a driver of the success of the DreamIt Access companies,” said William Crowder, Managing Director of DreamIt Access. “We have launched 20 companies through the track and 80 percent of them are alive, thriving, and creating jobs in this economy.”

Comcast Ventures, the venture capital affiliate of Comcast Corporation (Nasdaq: CMCSA, CMCSK), a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal, is an investor in the DreamIt Access program through its  $20 million commitment to expand opportunities for minority entrepreneurs.  Teams interested in participating in DreamIt Access can apply here. Since the inaugural Fall 2011 class, DreamIt Access has launched 20 minority-led startups including Cloudamize, Kwelia, Reactor Labs, and Versa.

“DreamIt is thrilled to offer the DreamIt Access track as part of our upcoming New York and Philadelphia cycles for the next two years. Partnerships, like this one with Comcast Ventures, help us achieve our mission of helping great people from all corners of the world build exceptional companies,” stated Kerry Rupp, CEO of DreamIt Ventures.

Applications for DreamIt NYC 2014 are now open.  DreamIt New York will run from May through August 2014 and is accepting up to 15 companies to participate in the traditional DreamIt accelerator and DreamIt Access programs.

Coming on the heels of their recently announced partnership with Drexel University and the University City Science Center; DreamIt plans to hold their Philadelphia-based accelerator in the Fall of 2014 in the new 3401 Market St. Innovation Hub space – which is also the location of DreamIt’s new global headquarters. DreamIt Philly 2014 will run in Philadelphia’s University City from September through December 2014 and will offer a Comcast Ventures-sponsored DreamIt Access track as part of the accelerator cycle.  Applications will open later this year.

More details about the upcoming programs, schedules & locations, and application details are available here.

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 ABOUT DREAMIT VENTURES
DreamIt Ventures is a seed stage accelerator and start-up fund, with the goal of helping exceptional teams build exceptional companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas; a uniquely assigned, seasoned entrepreneur as a mentor; pre-seed funding;  top tier accounting and legal services, a rigorous and creative working environment, and access to capital.  DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs.  Since kicking off in Philadelphia with their traditional accelerator program, DreamIt has expanded to Austin, Baltimore, New York, and Israel; built a thriving healthtech accelerator program, been named the third best accelerator program in the world by Forbes Magazine in 2012; and launched 127 companies with an enterprise value greater than $415M, including: SCVNGR, Parse,ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, Versa, SnipSnap, Charlie, Cloudamize, Vantageous, Reactor, PeerActive, TrendKite and Biomeme. DreamIt alumni have collectively gone on to raise more than $110M in follow on funding. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at info@dreamitventures.com

ABOUT COMCAST VENTURES
Comcast Ventures (www.comcastventures.com) is the venture capital affiliate of Comcast Corporation. Comcast Ventures invests in innovative businesses that represent the next generation of digital, entertainment, media, social, e-commerce and advertising technologies that will change the way people live, work and interact. Comcast Ventures consists of the previously combined Comcast Interactive Capital and NBCUniversal Peacock Equity Fund.

MEDIA CONTACT
Dana Rygwelski
DreamIt Ventures
dana@dreamitventures.com
424.235.0746

Jan
17
Kaiser Permanente to speed health IT startups to market


DreamIt Health Baltimore 2014 begins with globally sourced startups, adding Kaiser as strategic partner alongside Johns Hopkins University, Northrop Grumman Corporation and BioHealth Innovation.

BALTIMORE, MARYLAND – January 17, 2014 – 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.

Kaiser Permanente, globally renowned for its successful blend of payer and provider organizations and effective use of health IT, is the latest high profile partner to join the DreamIt Health team.

“We look forward to working with these very promising new healthcare technology companies where we can provide access to industry leading health professionals and a real world laboratory to test the usability and effectiveness of next generation technology solutions” said Kim Horn, President, Kaiser Foundation Health Plan of the MidAtlantic States, Inc. “From the development and deployment of Kaiser Permanente HealthConnect®, our universally acclaimed electronic medical information system, expansive use of telemedicine providing people access to quality care wherever they may be, and our continuing investment in 21st century facilities, Kaiser Permanente has shown how the skillful application of technology improves health outcomes while bringing down the cost of care.”

The companies were selected with an emphasis on those tackling significant problems, with sizable market opportunities, exceptional teams and demonstrated progress to date. Three of the companies hail from overseas, joining another from Pittsburgh and five more from Baltimore itself. The companies are:

Aegle (Baltimore): Wearable biometric devices

Avhana (Baltimore): Nextgeneration clinical decision support for the electronic health record

Cognuse (Talinn, Estonia): Cognitive rehabilitation of stroke and traumatic brain injury patients through mobile games

EMOCHA (Baltimore): Mobile capture of data for medication adherence and clinical trials

Protenus (Baltimore): Digital management of patient consent and other administrative workflows

Respi (Athens, Greece): Smartphonebased spirometry and respiratory data platform

Patient Feed (Pittsburgh and New York City): Collaboration tool for inpatient care

Phobious (Barcelona, Spain): Treatment of behavioral health issues through mobile, augmented reality

The Smartphone Physical (Baltimore): Integration and distribution of clinically relevant mobile health devices

Beyond DreamIt Ventures, Kaiser Permanente, Johns Hopkins University and Northrop Grumman, the companies and the program are supported by a wide range of economic development agencies and leading law firms including BioHealth Innovation, the Economic Alliance of Greater Baltimore, the Maryland Department of Business and Economic Development, DLA Piper, Duane Morris, Saul Ewing, and Venable.

About DreamIt Ventures
DreamIt Ventures is a seed stage accelerator and start-up fund, with the goal of helping exceptional teams build exceptional companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas; a uniquely assigned, seasoned entrepreneur as a mentor; pre-seed funding;  top tier accounting and legal services, a rigorous and creative working environment, and access to capital.  DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs.  Since kicking off in Philadelphia with their traditional accelerator program, DreamIt has expanded to Austin, Baltimore, New York, and Israel; built a thriving healthtech accelerator program, been named the third best accelerator program in the world by Forbes Magazine in 2012; and launched 127 companies with an enterprise value greater than $415M, including: SCVNGR, Parse,ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, Versa, SnipSnap, Charlie, Cloudamize, Vantageous, Reactor, PeerActive, TrendKite and Biomeme. DreamIt alumni have collectively gone on to raise more than $110M in follow on funding. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at info@dreamitventures.com

About Kaiser Permanente of the MidAtlantic States
Kaiser Permanente of the MidAtlantic States region, headquartered in Rockville, Maryland, provides and coordinates complete health care services for almost 500,000 members through 29 medical centers in Maryland, Virginia, and Washington, D.C. Founded in 1980, Kaiser Permanente of the MidAtlantic States is a total health organization comprised of Kaiser Foundation Health Plan of the MidAtlantic States, Inc., and the MidAtlantic Permanente Medical Group, P.C., an independent medical group that features approximately 1,000 physicians who provide or arrange care for patients throughout the area. Kaiser Permanente of the MidAtlantic States is considered one of Maryland’s “Top HMOs,” according to the Maryland Health Care Commission. The health plan was ranked in the nation’s 20 top commercial health plans and 10 top Medicare health plans — and the No. 1 Medicare plan for Maryland, Virginia, and Washington, D.C. — by “NCQA Health Insurance Plan Rankings 2013 2014 Private.” For more information about Kaiser Permanente of the MidAtlantic States, visit kp.org or follow us on Twitter, twitter.com/KPMidAtlantic.

About Johns Hopkins
The Johns Hopkins University is a global leader in discovery, education and professional practice, dedicated since 1876 to putting knowledge to work for humanity. Johns Hopkins was established on what was then a revolutionary idea, that universities must do more than teach the collected wisdom of the past. Founding President Daniel Coit Gilman argued that they must also advance human knowledge and apply that knowledge for the common good. Gilman’s philosophy guides today’s Johns Hopkins, where faculty and students are partners in learning and discovery. Together, they explore what makes us human culture and society, art and literature, life science, health and medicine. Together, they study what drives the universe in which we live. Together, they learn how to use their knowledge to make tomorrow better.

About Northrop Grumman
Northrop Grumman is a leading provider of health IT solutions and services, supporting the continuum of health and human services for federal civilian, military, state, local and international customers. Through the integration of health expertise and information technology, the company supports national health goals to enhance benefits systems solutions, increase the quality and efficiency of health care and improve the health of the population. Additional details are available at www.northropgrumman.com/healthit. Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

About BioHealth Innovation, Inc.
BioHealth Innovation, Inc., is a regional innovation intermediary focused on commercializing market relevant biohealth
innovations and increasing access to early stage funding in Maryland. Learn more at www.biohealthinnovation.org.

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Media Contacts
Gavin Skillman, Launch Squad, 212.564.3665 (office), gavin@launchsquad.com
Beverlie Brinson, Kaiser Permanente, 301.816.6436, Beverlie.Brinson@kp.org

Dec
16
Northrop Grumman Joins DreamIt Ventures Healthcare Accelerator


BALTIMORE – Dec. 16, 2013 – Northrop Grumman Corporation (NOC: NYSE) has joined DreamIt Health Baltimore, a collaborative startup business accelerator program with the goal of identifying, validating and developing innovative solutions to healthcare challenges.

Northrop Grumman joins The Johns Hopkins University and BioHealth Innovation Inc. in the Baltimore-based accelerator, which was launched in September by DreamIt Ventures, a seed-stage accelerator based out of Philadelphia.

Startups selected for the four-month program receive $50,000 in seed funding; access to potential beta customers, pilot partners, data and systems; accounting and legal support; and expert guidance and mentoring from the accelerator and its partners.

“Advances in healthcare are particularly dependent on advances in information technology,” said Amy Caro, vice president, health IT programs, Northrop Grumman Information Systems. “Northrop Grumman is focused on serving as a value-added provider of innovative, affordable, next-generation IT solutions to transform healthcare. DreamIt Health Baltimore provides us an extraordinary opportunity to introduce fresh thinking, new ways of doing business and, ultimately, superior systems, services and solutions.”

DreamIt and the program partners will select as many as 10 startup companies from applications received worldwide. The selected companies will begin an entrepreneurial boot-camp in Baltimore Jan. 17, 2014, which runs through May 9, 2014.

“The most important thing we do for DreamIt companies is enable access to industry leaders who provide insight on the market’s most pressing problems and who are open to partnering to give these startups access to key resources and opportunities otherwise out of their reach,” said Elliot Menschik, M.D. PhD, managing partner for healthcare at DreamIt Ventures. “Northrop Grumman has exceptional public sector health IT experience. We’re thrilled to have them join the program and look forward to the significant impact this partnership will have on the success of the DreamIt participants.”

DreamIt Ventures completed a similar health IT program with 10 start-ups in Philadelphia in August in a partnership with Independence Blue Cross and Penn Medicine. Since 2008, DreamIt Ventures has helped launch 127 startup companies in accelerator programs run in Philadelphia, New York, Austin, Texas, and Tel-Aviv, Israel.

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Northrop Grumman is a leading provider of health IT solutions and services, supporting the continuum of health and human services for federal civilian, military, state, local and international customers. Through the integration of health expertise and information technology, the company supports national health goals to enhance benefits systems solutions, increase the quality and efficiency of health care and improve the health of the population. Additional details are available at www.northropgrumman.com/healthit.

Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

 

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