May 25, 2013
Health-related incubators, now typically called accelerators, seem to be popping up on every corner. This is not the first time incubators have focused on health care. In the wake of the Human Genome Project regional life sciences incubators became common sights across the US and in parts of Europe.
What’s different this time? First and foremost, this generation of accelerators is focusing primarily on digital health technologies rather than biologic technologies. The development of an mHealth app doesn’t require a wet lab or white mice, bringing the development costs and timelines closer to those of a tech company. Also, like a tech company, the risks in many digital health products are primarily market-related rather than science-related. As a result this generation of incubatees should be able to get to market sooner and potentially return capital to the accelerator sooner.
For a detailed discussion of the new generation of health accelerators, see the recent HL7Standards.com blog.