Fourteen New Pilot Programs Anticipated to Result from Program — Current Class Has Raised $3M Since Program Launch in September 2015.
New York, NY – Today, the New York Digital Health Accelerator (NYDHA) – an intense five month program run by the Partnership Fund for New York City (Partnership Fund) and the New York eHealth Collaborative (NYeC) to foster New York’s growing health tech sector – featured six leading early- and growth-stage health tech companies that are developing cutting-edge technology products for healthcare providers and patients in the areas of care coordination, patient engagement, and workflow improvement.
“Maria is someone with credibility among advocates, based on her work in the Attorney General’s Office, as well as with the financial industry, thanks to her many years in private practice. She is a perfect choice to affirm and institutionalize this department’s status as the foremost state financial regulator, and will be an asset in keeping New York the world financial capital.”
“GE’s decision to locate their headquarters in Boston, rather than returning to their roots in New York State, should be a wake-up call that New York must create a more competitive business environment if we are going to attract new jobs and remain a leading center of innovation. This means lower tax rates, fewer intrusive laws and regulations, and investment in modernizing our infrastructure. Governor Cuomo has announced his support for an aggressive program to create a better business environment but both houses of the legislature and local governments are equally important to moving this agenda forward.”
“Governor Cuomo’s speech today appropriately focused on controlling spending, investing in infrastructure and education, and cutting taxes. The Governor’s infrastructure agenda requires him to build public-private partnerships, which is the key component to getting projects done on budget and on time. His commitment to an extension of mayoral control and a major increase in education aid are critical to our school system. We look forward to working with the Governor and the Legislature to accomplish this ambitious agenda.”
Datadog, one of Partnership Fund program’s NYC Seed’s first Seedstart programs, today announced a $94.5 million round of Series D funding, which it will use to develop new products and expand internally. Datadog wrote their business plan and got started through NYC Seed and received direct funding from the program in addition to other investors. Datadog is a enterprise software company and a great company to have operating and growing in New York.
The Partnership Fund has participated in the $17 million Series A round of funding for Lodo Therapeutics, a New York-based biotech startup founded by Rockefeller University researcher Sean Brady. The Partnership Fund is joined by fellow funders, the Bill and Melinda Gates Foundation, which increasingly seeks to back biotech startups. The Series A funding signifies serious progress for the growing biotech sector in New York City.
Maria Gotsch, President and CEO of the Partnership Fund for New York City, was named one of Institutional Investor’s Fintech Finance 35 for her leadership of the Fintech Innovation Lab. Since its inception in 2010, the Fintech Innovation Lab has been integral to making New York the center of fintech and financial innovation.
The Partnership Fund has participated in the $48 million Series A investment of Petra Pharma Corporation to develop small molecule inhibitors for the treatment of cancer and metabolic diseases. The investment signifies a step forward in strengthening the biotech sector in New York, which has yet to capitalize on its wealth of the academic institutions, but is seeing an influx of new early stage venture investors like Accelerator Corp.
This year, members of the Partnership stepped up to provide unprecedented business and civic leadership for New York City. As a result, the city has more jobs— 4.3 million—and greater economic output—$712 billion—than ever before.
“The business community agrees with Mayor de Blasio’s assessment that the city economy is in good shape, that the NYPD is doing a terrific job, and that we need to come together to deal with conditions of homelessness, providing both support services and housing for those in need and more rigorous enforcement of laws that protect the safety of homeless individuals and the general public. HOME-STAT is a practical response to both service and enforcement priorities.”