A strategic component of the statewide Digital Health Initiative, founding partners for PULSE@MassChallenge include 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 its incredible to see the level of commitment from both the public and private sectors, said Scott Bailey, Managing Director of MassChallenge Boston. Were 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.
Leaders from the city and state, local business executives, health providers, entrepreneurs, and industry experts gathered for the ribbon-cutting ceremony this afternoon at Hatch Fenway.
Through generous support from Samuels & Associates, the 8,000 square foot innovation lab connects high-quality digital health startups to the network and resources they need to successfully launch and grow. Thanks to Suffolk Construction, who managed the entire buildout of the space, PULSE@MassChallenge is well-positioned to attract the top entrepreneurs from around the world.
To support programming, startups engaging with PULSE@MassChallenge will have access to expert mentorship, specialized workshops and technology donated by Dell and EMC to help meet each startups unique development needs. Committed to supporting the entrepreneurial ecosystem at large, Dell and EMC have each pledged generous in-kind technology donations to the MassChallenge community.
Massachusetts leadership in healthcare, education and innovation have rightly led to its visibility on the world stage, said Joe Tucci, EMC Chairman and CEO. EMC is committed and proud to provide the technology needed to support local entrepreneurs who are innovating to improve healthcare, which will continue to fuel new economic growth in Massachusetts.
In addition to the dynamic location in The Fenway neighborhood, startups will also have access to TechSpring, a healthcare innovation center from Baystate Health located in Springfield, Massachusetts. By collaborating with organizations throughout the state, PULSE@MassChallenge will not only help strengthen the digital health ecosystem in Boston, but across Massachusetts.
Also announced during todays ribbon cutting ceremony is the closing of the Massachusetts Innovation Catalyst Fund. This $25.8 million fund will invest exclusively in digital healthcare companies that are headquartered or have significant operations in Massachusetts. The fund is being managed by an affiliate of Leerink Holdings of Boston and investors reflect the broad support for the Digital Healthcare Initiative across the Commonwealth.
Todays announcements send a clear message that the Commonwealth is open for business to digital healthcare entrepreneurs looking for a place to start, stay and grow their companies, said Dr. Jeffrey Leiden, M.D., Ph.D. Chairman, President and CEO of Vertex, who led the Digital Health Initiative on behalf of MACP. Digital healthcare has the potential to be a tremendous economic win for Massachusetts and will transform the health and wellbeing of people across the world.
MassChallenge is the most startup-friendly accelerator on the planet. No equity and not-for-profit, we are obsessed with helping entrepreneurs across any industry. We also reward the highest-impact startups through a competition to win a portion of several million dollars in equity-free cash awards. Through our global network of accelerators in Boston, the UK, Israel, Switzerland, and Mexico, and unrivaled access to our corporate partners, we can have a massive impact - driving growth and creating value the world over. To date, 835 MassChallenge alumni have raised over $1.4B, generated over $575 million in revenue, and created over 8,500 jobs. For more information, please visit masschallenge.org.
Top Partners Include:
Microsoft, Fidelity, Verizon, Bler, John Hancock, CASIS, Jamestown, Kauffman Foundation, The Boston Foundation, Deshpande Foundation, SENA, iNNpulsa Colombia, OCP Entrepreneurship Network, Biscay Government, Gentera, PTC, Givaudan, Nestl Inartis Foundation, Swiss Economic Forum, Swiss Re, EMC, INADEM, J.P. Morgan Chase, Jerusalem Development Authority, Commonwealth of Massachusetts, and IBM.