What is the vetting process like?
A review committee will select up to 10 companies to participate in the New York Digital Health Innovation Lab. Finalists will be invited to make oral presentations and to demo their products. The review committee will be comprised of hospital leadership, technology experts, clinicians and investors.
How will applications be evaluated?
The review criteria for company selection will include: product innovation in focus areas, management team with proven track, company life-cycle stage, value proposition, solutions that have clinically proven outcomes and have been successfully integrated into a large healthcare organization.
What types of companies are you NOT looking for?
Pharmaceutical, biotech, surgical medical device and diagnostics companies.
How will companies be paired with a mentor provider organization?
The providers will participate in the selection process and will identify those companies that are closely aligned to strategic focus areas or specific use cases that interest them. Each company will be paired with a provider organization—or multiple provider organizations.
Will you sign our non-disclosure agreement?
There are too many applications submitted for us to sign an NDA, much like venture firms. We respect and understand the confidentiality of your application and will not share it with anyone outside of the selection committee. Please provide us with only as much information as you are comfortable sharing, and keep in mind that we will be able to better evaluate your application if you supply us with complete information.
Is there a fee for applying to the program?
There is no fee to apply. For those newly accepted into the program through a nomination, the Digital Health Innovation Lab will take a small amount of warrant coverage based on milestones achieved through the program. If accepted, alums, who have previously provided warrant coverage, will be able to participate without any additional fee or warrants.
What happens to my intellectual property if I am not selected?
Our application does not ask for detailed IP information and there is no reason you have to disclose this to us if you are not comfortable doing so.
If I am not from New York, would acceptance mean I need to relocate
Graduates of the program must have at least two full-time employees in New York. Nominated digital health companies must be headquartered in New York City with a majority of employees based in New York City.
I would need to relocate to New York for the program; will you be providing office space?
The Innovation Lab does not include office space. However, we can help you find affordable working space in New York City.