Digital health lab looks to tap into growing industry
State aims to be leader
Pulse@ MassChallenge — a free digital health innovation lab in the Fenway neighborhood — was launched yesterday to help startup companies create digital products to boost patient care and the health care industry.
The innovations range from implantable devices and electronic health records to telemedicine.
“Over the next 10 years, I absolutely believe the advances in digital health care will revolutionize the way we take care of patients and transform the health and well being of our citizens, not only in Massachusetts, not only in the U.S., but across the world,” said Dr. Jeffrey Leiden, CEO of Vertex.
Gathered at Hatch Fenway, local leaders said they plan to capitalize on what Goldman Sachs estimates is a $32 billion industry ready to launch in the next decade in the United States.
“All the elements are here for this state, not only to just lead the country, but to lead the world,” said Gov. Charlie Baker. “It’s really in the first inning of a very long game.”
It was a vision shared by state Senate President Stanley C. Rosenberg and Mayor Martin J. Walsh, who called it a sign of the city’s emerging status as “America’s startup city.”
The state has promised $170,000 to MassChallenge and $80,000 to its partner, TechSpringfield of Baystate Health.
The new Massachusetts Innovation Catalyst Fund, worth $25.8 million, is meant to spur growth and attract companies to the Bay State. Investors include Athena Health, the Kraft group, Liberty Mutual, Partners Healthcare and Suffolk Construction.