New $6M funding effort for digital health firms in Philadelphia

Posted on December 8, 2016

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Ben Franklin Technology Partners of Southeastern Pennsylvania, Independence Health Group, and Safeguard Scientifics announced plans Thursday to spend a total of $6 million over the next for years funding early-stage digital health-care startups.

Each of the partners has pledged $2 million. Ben Franklin will manage the effort, which is open to companies in Southeastern Pennsylvania. Investments will range from $50,000 up to $1 million per company.

Separately, the partners are involved in the Health Innovation Collaborative, started in 2015 by the Greater Philadelphia Chamber of Commerce’s CEO Council for Growth.