Health Wildcatters’ fourth class of graduates is its most mature yet, a mix of health IT and data analytics and medical device startups that already, in some cases, generate revenue and participate in trials.
“As opposed to two or three years ago when we really saw some very early innovation that was not validated at all, most of these already have validation,” said Hubert Zajicek, the CEO of the downtown medical startup incubator. “We know that we’re working with a team that has something that is definitely desired out there and we’re going to be figuring out how to best optimize that.”
The accelerator program announced the 10 that will spend the next three months developing their companies under the watchful eyes of nearly 140 mentors, many of whom may wind up being investors. Five already generate revenue. This is also the first of Health Wildcatter’s four classes to operate in its new downtown office, which Zajicek and his team had the ability to help render. It’s the 20th floor of 1910 Pacific—not far at all from the annual pitch day setting of the Majestic Theater this November—and was designed with the idea of creating a healthcare ecosystem in the heart of downtown Dallas.
There are 25 built-in offices and space for as many as 40 startups to rent out as needed. There’s a new auditorium for events and private carve-outs for individual pitches. The floor was totally gutted, which allowed architect Page Southerland Page Inc. to design it with the accelerator’s growth in mind.
“It’s the ecosystem, and we need to take it to the next level,” Zajicek says. “We can house a good 30 startups here on a yearlong basis. They can take an office or a desk or more than that. And at any given time, there will be 20-plus here. That creates a year-round reason for coming by here and attending sessions here.”
The previous 32 companies have raised more than $16 million. And while that number is nice and neat, Zajicek cautions against focusing too much on it. The number is representative of the companies being investable, top down. Some receive more, some receive less. But they’re getting it, and they’re using it to expand, he says. That factor led to MIT naming it one of the nation’s three best healthcare accelerators earlier this year. And the HwC brass believes it’s helping attract more mature companies.
“When someone raises a small amount, it works for me as an investor because that means they’re building value,” Zajicek says. “You want them to raise money, but I’m more than happy to decide to take a small amount of capital that has a huge amount of value and then go for the next round. That has happened, too.”
To participate, the startups trade 8 percent equity in the company for a $30,000 investment and the 12-week course. Without further ado, the 2016 Health Wildcatters graduate class:
- Amity Cloud– an application that trains healthcare professionals and brings healthcare services to individuals everywhere, no matter their location. (Philadelphia)
- ClinicalSolutions– marketplace that connects clinical trials volunteers with medical researchers — with just one-click. (Dallas)
- Endogenesis – label-free, real-time, in-vivo cancer imaging and diagnosis. (Rochester, New York)
- Friendly – EMR integrated platform that allows patients to report common health concerns and receive treatment in a timely manner from their trusted provider, and doctors to be more productive by documenting less and treating more. (San Ramon, California)
- HealPal – people-powered cancer care. (Austin)
- HealthNextGen – innovating personalized healthcare using data science. (Dallas)
- KnKt’d– changing patients’ journey through the behavioral health systems. (Salem, Oregon)
- MediBookr – Priceline-like marketplace for medical imaging centers (Dallas)
- Optologix – Maker of non-invasive, light-activated genetic tools for use in biomedical research. (Dallas)
- Sentinel Diagnostic Imaging – Developer of Oqulus, an imaging platform that uses retinal scans to instantly identify a wide range of cardiovascular and cerebrovascular biomarkers associated with diabetes, hypertension, muscular dystrophy and stroke risk (Dallas)