Finalists in the DCtoVC.com pitch contest were announced this past week. Organized by Morgenthaler Ventures with co-organizers Silicon Valley Bank, Health 2.0 and Practice Fusion, the contest was opened to US entrepreneurs looking to raise seed or Series A capital for their health IT start-ups.
Rebecca Lynn, partner at Morgenthaler Ventures and head of the firm’s health IT investing team said,
“The tremendous response we received shows that health IT is becoming as sexy a sector as social media and game. We received 117 applications that reflect how entrepreneurs are ‘thinking big.’
She continued, “Many of the applicants were driven to build health IT companies because of their own personal experiences battling the deficiencies in our healthcare system. They are incredibly smart and motivated, and I am humbled by their passion. I believe that entrepreneurs – not corporations or the government – will ultimately fix healthcare.”
This last statement is very powerful, and one I happen to agree with completely. The only hope for solving the major deficiencies in our health care system is for the next generation of entrepreneurs to take the risks and start the businesses that will develop and bring to market disruptive technologies.
Read below to see which innovative health IT companies made the finalist round.
Seed-Stage Finalists:
Careticker
is the world’s first platform that helps patients plan in advance for a hospital or outpatient procedure. (Miami, FL)
EyeNetra
is the most affordable mobile eye diagnostic ever developed, allowing anyone to take their own eye test, get a prescription for glasses, and connect to eye-care providers all on a mobile phone. (Cambridge, MA)
Skimble
powers the mobile wellness movement with a cross-platform ecosystem of fun and dynamic coaching applications. Its latest title, Workout Trainer, ranks top 10 in the free Healthcare and Fitness category on iPhone/iPad. (San Francisco)
SurgiChart
is a mobile, cloud-based, social-clinical network for surgeons to exchange relevant perioperative, case-centric information. (Nashville, TN). It was mentioned in our survey of surgery apps, a full review is upcoming.
Telethrive
provides patients an instant connection to doctors for a medical consultation using any telephone or computer with complete audio and video conferencing. (Los Angeles)
Viewics
provides hospitals with cloud-based analytics and business intelligence solutions which enable them to drive enhanced operational, financial and clinical outcomes. (San Francisco)
Series-A Finalists:
AbilTo
develops and delivers online mental health programs to managed care members and enterprise workforces that help reduce payer costs while improving overall health outcomes. (NYC)
Axial Exchange
moves healthcare organizations towards pay-for-performance, enabling providers to coordinate care and measure clinical quality across disparate settings. (Raleigh, NC)
Empower Interactive’s
online services deliver proven psychotherapy methodologies via an e-learning platform to greatly improve the economics and accessibility of mental and behavioral health solutions. (San Francisco)
Jiff
is the first HIPAA-compliant iPad platform for patient education in the medical industry used by doctors, nurses, patients and more. (San Francisco)
YourNurseIsIn.com
employs bi-directional text, phone and email communications to help hospitals and agencies put “the right healthcare providers, in the right places, right now.” (New Haven, CT)
Honorable Mention:
CareinSync
a real-time care collaboration platform for smart-mobile devices such as iPhones or iPads to radically transform patient care.
Venture capital investments in health IT, defined as medical software and information services, increased in the second quarter of 2011 to $198 million, a 27-percent increase from $156 million during the same period last year, according to Dow Jones Venture Source.
Finalists will present in front of a panel of investors at an invitation only event on September 22 at Microsoft’s Mountain View, CA campus.
