Host Eligibility: The 'host' must be a healthcare organization or individuals providing healthcare services (e.g. hospitals, physician clinics, payers, pharma, nursing associations, etc.) and must meet the following eligibility criteria:
- Serving no fewer than 150 patients (if a provider) in the NYC metropolitan area
- Ability to allocate time and resources to plan and implement the pilot project
- Allocate one business-minded champion to shepherd project
Innovator Eligibility: The 'innovator' (an early-stage healthcare technology company) must have a readily available tech-based product focused on improving healthcare that can be tested in the 'host' setting and meet the following criteria:
- Demonstration of financial stability, managerial capacity, and scalability
- Maximum number of 50 employees (with some exceptions)
- Less than $10M in venture capital funding raised (with some exceptions)
- Should have a primary place of business in NYC.
- If 'innovator' company does not have a primary place of business in NYC, the 'innovator' company must demonstrate how it plans on establishing a substantial presence in NYC if selected as a winner.
The New York City healthcare community including healthcare providers, payors, academic medical institutions, and entrepreneurs participated in the Eds & Meds 2020 strategic review of the healthcare technology sector led by the New York City Economic Development Corporation (NYCEDC). These stakeholders identified the priority areas below that can benefit from innovative technology solutions. Applicants are encouraged, but not required, to address these priority areas with their technology submissions.
- Wireless health and home monitoring devices
- Consumer technology vs. enterprise technology
- Data analysis to improve outcomes and/or reduce cost of care
- Population level data analytics and predictive modeling
- Tools to improve patient compliance and disease management
- Medication adherence and medication checking
- Tools to improve communication and patient satisfaction metrics
- Tools to manage clinical trials and patient networks
- Effective marketing methods for new patients
- Care coordination and integration
- Productivity enhancements and streamlining processes
The 'host' and 'innovator' co-applicants must discuss and agree upon the pilot project design prior to submitting an application. To apply, jointly complete this application form by Monday, May 27, 2013. We encourage you to preview the application in its entirety to ensure you have the information prepared. The 'host' and 'innovator' are asked to submit a joint proposal with the following submission elements:
- General Information about 'innovator' and 'host'
- Contact information
- Annual revenue, amount of capital raised and type of investors
- Number of employees in NYC
- Technology solution of 'innovator'
- What is the unmet need your technology or innovation is designed to address?
- Tell us more about your technology solution.
- What is your business model?
- Demo video of 'innovator' product
- 5 minutes max uploaded publicly or privately to Youtube or Vimeo. Please provide password for private video.
- Overview of Pilot Proposal addressing the following questions:
- Why is your proposed pilot important?
- What is the scale of your pilot?
- What is your proposed timeframe and implementation plan?
- What resources will be required to implement your pilot?
- What are the proposed roles for the Innovator and the Host?
- What are your metrics for success?
- What challenges or risks do you foresee?
- Budget overview (description and Excel sheet)
- What is the total cost of your proposed pilot?
- What are the contributions to be made by the Innovator and Host (resources, technology, staff time and involvement, other costs)?
- What is the level of matching funding you are requesting from PILOT Health Tech NYC?
- To what extent do you believe additional funding will be required for subsequent pilots or phases of your pilot (if applicable)?
- How will you allocate the funding received from NYCEDC between 'host' and 'innovator' if chosen?
- NOTE: PILOT Health Tech NYC will provide up to $100,000 in funding for each selected pilot program with the following parameters: 1) each selected winner will receive no more than 50% of the cost of an individual pilot program, and 2) the host/innovator pair is responsible for providing funding or in-kind resources for the remainder of the budget, which must be of equal or greater value than the amount awarded. If selected, the two parties are free to decide how the PILOT Health Tech NYC funding will be allocated between host and innovator. The budget submitted as part of the application should be an accurate representation of the cost of the pilot program.
- Slidedeck of Pilot Proposal
- Summary of Pilot Project in Slidedeck format (include all elements from the Pilot Proposal overview)
- 10 slides max, PDF format
- Resume of Primary Contact (Innovator)
- Letter of Support from Host Organization
- Optional: Any additional supporting documents (articles, recommendations, etc.)
Please note that if a submission is selected as a winner, the 'host' and 'innovator' must sign a written agreement delineating their pilot implementation plan and any terms and conditions prior to piloting the project.
Applications will be evaluated by an expert judging panel using five key metrics and weights listed below:
- Pilot proposal and design (35%): Includes the quality of the pilot concept, feasibility, potential for success and ability to meet all milestones, cost-effectiveness, sustainability, and scalability of the pilot to a broader population in the long term.
- 'Innovator' company's product potential (15%): Includes innovativeness of technology product, capabilities, and potential for commercial success.
- Potential for impact (15%): Includes the potential impact on a critical healthcare need.
- Team experience and strength of match (10%): Includes experience of team members, prior successes and capacity of the team to execute and bring the technology to market as well as fit between 'host' and 'innovator'.
- Potential for Impact on NYC - (20%) Includes the potential impact on the creation of NYC-based healthcare technology jobs. This includes existing or plans for presence in NYC with regards to the number of employees, office space, or potential to growth.