Philadelphia-based The Science Center, a nonprofit organization dedicated to advancing healthcare innovation from idea to the marketplace, recently selected 12 health tech startups for its third Capital Readiness Program cohort.
During the first two cohorts, 18 startups participated and have gone on to raise $6.9 million.
“Despite challenging market conditions with startup funding down significantly from its 2021 peak, there remains significant potential for health tech and digital health businesses. To be successful however, startups must demonstrate a level of sophistication across strategy, governance, and operations to earn the trust of already timid investors,” Tiffany Wilson, Science Center president and CEO, said. “The Capital Readiness Program gives startups the best chance of success by engaging local and national experts and investors to work hand-in-hand to better prepare founders for this critical next step of their trajectory.”
The startups will spend five days in Philadelphia with industry leaders and investors in preparation for their first institutional investments.
They will participate in the Capital Readiness Program this week. On Thursday, the startups and the investors-in-residence will participate in a discussion focused on startup fundraising myths.
The Science Center is recruiting startups for the fourth cohort in March. The application deadline is Jan. 5.