Swarm of Applicants Vying for New York City’s Health Tech Grants

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encourage firms to form in the city or to start a major branch there, bringing jobs and other economic benefits to New York, say officials from the New York City Economic Development Corporation.

But companies outside New York’s five boroughs could still apply, Neptune says. They had to state that they plan to move to the city or create a significant presence there in the event that they win one of the grants, he says.

Health 2.0 is also co-managing another of the economic development agency’s programs to jump-start the city’s healthcare business community. The Innovate Health Tech NYC program will award a total of $50,000 to three companies developing software and/or hardware to solve urgent healthcare problems. The application deadline is May 2.

Neptune estimates that there are at least several hundred health tech companies in New York, with more forming constantly. New York City’s economic stimulus programs are driving the growth, in addition to incubators such as Blueprint, Startup Health, and the New York eHealth Collaborative (NYeC), he says. The city is a rich environment for entrepreneurs because of its dense community of hospitals, medical schools, and other health care provider institutions, Neptune says. Although the Bay area and Boston are traditionally seen as health tech hubs, New York is gaining on them, he says.

“We have a tremendous infrastructure that we’re just beginning to tap for healthcare innovation,” Neptune says. “New York could soon be number one.”

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