MATTER
MATTER is a Chicago-based nonprofit healthcare incubator and innovation hub that runs startup incubation, community programming, and corporate innovation partnerships for healthcare startups, health systems, payers, and pharma since 2015.
- Company typePrivate
- Founded2015
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What MATTER does
MATTER is a Chicago-based healthcare innovation incubator and community hub founded in 2015 by Jeff Aronin and led by CEO Steven Collens. The organization mobilizes a community of more than 60,000 healthcare entrepreneurs, executives, investors, and experts, and has incubated over 1,000 healthcare and life sciences startups, with 700+ currently active in its collaborative. MATTER does not develop proprietary technology products; instead, it operates a physical innovation hub at Chicago's Merchandise Mart and a programmatic platform structured around three pillars: Egg (startup incubation), Nexus (community programming and facility), and Corporate Innovation (engagement services for healthcare enterprises).
The organization's revenue model combines three streams: (1) recurring startup membership fees through Flex and Select tiers; (2) corporate innovation partnerships where health systems, payers, pharma companies, and foundations pay for curated challenges, accelerators, and co-development programs; and (3) managed accelerator and challenge programs, including the Paratus Digital Health Accelerator as part of the BARDA Accelerator Network, SMILE Health with CareQuest Innovation Partners, 51 Labs with BayCare and others, the VSP Vision Innovation Challenge, the AGA Digestive Disease Incubator, and the AbbVie Foundation Health Equity Accelerator. Distribution is anchored by the Chicago facility, direct enterprise sales to healthcare corporations, and a digital member portal providing access to third-party research (e.g., KLAS).
MATTER serves three primary customer segments: early-stage and growth-stage healthcare startups seeking mentorship, validation, and corporate access; healthcare corporations seeking external innovation pipelines and co-development opportunities; and healthcare-focused investors seeking curated deal flow. The organization is governed by a Board co-chaired by founder Jeff Aronin and Timothy Walbert, and functions as a partnership-supported nonprofit accelerator rather than a venture-backed entity, with no disclosed equity funding rounds beyond a $4.4M raise in November 2014.
MATTER firmographics
Firmographics- Name
- MATTER
- Legal name
- MATTER
- Website
- https://matter.health
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MATTER is a Chicago-based nonprofit healthcare incubator and innovation hub that runs startup incubation, community programming, and corporate innovation partnerships for healthcare startups, health systems, payers, and pharma since 2015.
- Ownership category
- akta.pro rank
MATTER industry classification
Industry- Product category
- Healthcare Incubator and Innovation Services
- NAICS
- Scientific Research and Development Services (5417)
- SIC
- Services-Health Services (8000)
- akta.pro primary industry
- Accelerators & Incubators (Investor-Operated) (FSANAAAM)
- akta.pro secondary industry
- Health Access & Social Care Innovations (Community Health, Telehealth for Underserved) (BPAGALAG)
Keywords
Where MATTER is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
MATTER business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Startup Membership Programs: MATTER offers membership tiers (Flex, Select) for startups at different stages, providing access to facilities, mentorship, and the innovation community. Membership fees support the incubator's operations and startup support services.
- Corporate Innovation Partnerships: Forward-thinking organizations partner with MATTER to source and co-develop solutions, harness emerging technologies, and build innovation capacity. Corporations pay for access to startup innovation, curated challenges, and program facilitation.
- Accelerator and Challenge Programs: MATTER runs various accelerator programs in partnership with healthcare organizations (e.g., Paratus Digital Health Accelerator with BARDA, SMILE Health with CareQuest). These programs may receive funding from partners to support startups while generating revenue through program management.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
MATTER product offering
Product offeringCore offering
MATTER operates a healthcare incubator and innovation hub that mobilizes a community of healthcare innovators through startup incubation programs (Egg), community collaboration (Nexus), and corporate innovation services. The organization equips healthcare entrepreneurs with knowledge, tools, network access, mentorship, and accelerator/competition programs while helping corporations source, co-develop, and validate emerging healthcare solutions. It serves as an infrastructure layer connecting startups, industry executives, investors, and health systems across the healthcare innovation ecosystem.
Product overview
MATTER is a Chicago-based healthcare incubator and innovation hub offering a platform-plus-programs model. The core offerings include Egg (startup incubation), Nexus (community nexus), and Corporate Innovation services. These are complemented by specialized accelerator programs including the Paratus Digital Health Accelerator (BARDA Accelerator Network), 51 Labs (maternal health), SMILE Health (oral health), VSP Vision Innovation Challenge (eye care), Beyond Barriers (diabetes), Healthy Mom and Baby (maternal/child health), AGA Digestive Disease Incubator (gastroenterology), and AbbVie Foundation Health Equity Accelerator. MATTER also offers Flex and Select membership tiers for startups, along with an Investor Network connecting entrepreneurs with funding opportunities. The organization has supported over 1,000 healthcare and life sciences startups since 2015.
Differentiator
Problem solved
Functional benefit
Brands
- Paratus: Digital Health Accelerator, part of the BARDA Accelerator Network, providing non-dilutive funding for digital health startups addressing health security threats.
- MATTER Community
Products and services
- Egg (Startup Incubation) MATTER's core startup incubation program that equips healthcare entrepreneurs with the knowledge, tools, expansive network, and dynamic community they need to succeed. For early-stage and growth-stage healthcare technology ventures including digital health, medical device, diagnostics, and biotechnology companies.
- Nexus (Community Nexus) MATTER's community program and facility that brings together industry executives, entrepreneurs, and investors to learn and collaborate. For healthcare startups, executives, and investors seeking network and partnership opportunities.
- Corporate Innovation Services Service helping forward-thinking healthcare organizations source and co-develop solutions, harness emerging technologies, and build innovation capacity. For health systems, life sciences companies, payers, and foundations seeking external innovation pipelines.
- Paratus Digital Health Accelerator Part of the BARDA Accelerator Network, Paratus is the digital health arm providing non-dilutive funding, mentorship, and strategic support for startups addressing health security threats. Third cohort of 13 startups announced May 2026.
- 51 Labs Accelerator Innovation accelerator addressing the maternal mortality crisis in the U.S. by supporting women's health startups with clinical expertise and investment opportunities. For women's health startups and healthcare providers focused on maternal care.
- SMILE Health Accelerator Accelerator program at the intersection of oral health and health equity, in partnership with CareQuest Innovation Partners. Seeks startups focused on Simple, Minimally Invasive, Integrated, Low-barrier, and Equitable oral health solutions. Now in its fourth year with expanded support including new Startup Data Hub.
- VSP Vision Innovation Challenge Global competition to source and advance solutions enhancing the eye care experience. Co-hosted with VSP Vision and supported by Topcon Healthcare's THINC Ventures. Finalists considered for investment opportunities.
- Beyond Barriers Innovation Accelerator Accelerator in partnership with Beyond Type 1 supporting organizations improving early detection, care access, and outcomes for people living with diabetes. Partners commit up to $300,000 in grants (up to $50,000 per organization) along with mentorship and strategic support through November 2026.
- Healthy Mom and Baby Innovation Competition Competition in partnership with Parkview Health focused on improving access to care for mothers and children, addressing infant mortality and maternal health outcomes. Multiple cohorts including Healthy Mom and Baby 3.0.
- AGA Digestive Disease Incubator First-of-its-kind incubator in partnership with the American Gastroenterological Association focused on transforming patient experience, advancing diagnostics, and accelerating therapies for digestive diseases.
- AbbVie Foundation Health Equity Accelerator Accelerator supporting nonprofit organizations advancing innovative solutions that expand access to care across communities in the United States. Second cohort announced in 2026 with $10,000 stipends per organization and $50,000 grand prize.
- Investor Network MATTER's network connecting startups with healthcare-focused investors for funding opportunities. Provides investors with curated deal flow and portfolio support while offering startups access to capital.
Quantifiable outcome
- 1,000+ healthcare and life sciences startups incubated since 2015
- +2 more outcomes
Companies that use MATTER
Customer profileNamed customers11 records
Segments3 records
Ideal customer profiles3 records
MATTER technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
MATTER partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core and flagship.
- Beyond Type 1coreBeyond Barriers Innovation Accelerator supporting organizations improving diabetes care. Partners commit up to $300,000 in grants (up to $50,000 per organization) along with mentorship and strategic support through November 2026.
- KLAS ResearchcoreStrategic partnership providing MATTER members access to KLAS's library of healthcare technology research, validation insights, and feedback on solutions. Members can access reports through the MATTER member portal and engage with KLAS for custom services at discounted rates.
- CareQuest Innovation PartnersflagshipSMILE Health accelerator program at the intersection of oral health and health equity. CareQuest provides funding, industry expertise, and access to their oral health ecosystem while MATTER provides incubator infrastructure, mentorship, and program delivery. Now in its fourth year with expanded support including new Startup Data Hub.
- Parkview HealthflagshipLong-standing partnership on multiple innovation competitions including Healthy Mom and Baby Competition (2020, 2022, 2023) addressing maternal and infant health. Parkview provides clinical expertise, pilot opportunities, and funding while MATTER sources and accelerates startups.
- Loyola University Chicagocore2022 Loyola Chicago Health Equity Quest addressing health disparities and climate change. Partnership leverages Loyola's academic resources and MATTER's innovation infrastructure with up to $75,000 in prize funding.
- VSP VisioncoreVSP Vision Innovation Challenge sourcing solutions enhancing eye care. VSP provides access to their innovation ecosystem and investment consideration through THINC Ventures while MATTER provides program delivery and startup acceleration.
- American Gastroenterological AssociationcoreFirst-of-its-kind digestive disease incubator launched in 2025 supporting startups transforming patient experience, advancing diagnostics, and accelerating therapies for digestive diseases.
- AbbVie FoundationcoreAbbVie Foundation Health Equity Accelerator supporting nonprofit organizations advancing health equity solutions. Second cohort announced in 2026 with $10,000 stipends per organization and $50,000 grand prize.
- BayCarecore51 Labs accelerator addressing maternal mortality crisis in the U.S. BayCare provides clinical expertise and support as part of a multi-partner consortium including Health Care Service Corporation, Laerdal Million Lives Fund, and others.
- Astellascore51 Labs partner in Accelerating Innovation in Aging initiative, addressing health equity for older adults through innovation programs.
- Blue Cross and Blue Shield of IllinoiscoreHealth Equity Innovation Challenge addressing health disparities in Illinois communities through innovation.
- YWCA of Metropolitan ChicagocoreHealth Equity Innovation Accelerator addressing health inequities in Chicago through community-centered innovation.
- RRF Foundation for AgingcoreAccelerating Innovation in Aging partnership supporting solutions for older adults.
- KOSME (Korea SMEs and Startups Agency)coreU.S. Market Expansion Program preparing Korean healthcare companies for U.S. market success, with validation studies and market entry support.
- BARDA Accelerator NetworkflagshipParatus Digital Health Accelerator, the digital health arm of BARDA, providing non-dilutive funding for digital health startups addressing health security threats.
- Alzheimer's AssociationcoreAnnual pitch competition focused on solutions increasing access to quality, person-centered care for people living with Alzheimer's in underserved communities.
- American Medical AssociationcoreCommunity partner and collaboration on healthcare innovation initiatives including physician-focused programs.
- OSF HealthcarecoreCommunity partner health system collaborating on healthcare innovation initiatives.
- AbbViecoreCorporate partner engaged in healthcare innovation programs and community initiatives.
Scale indicators4 records
Recent moves7 records
Expansion highlights5 records
MATTER competitors and assessment
Company assessmentDirect peers
- Healthbox: Healthbox was a Chicago-originated healthcare innovation studio and accelerator. Directly comparable as a healthcare-focused incubator running accelerator programs and corporate innovation partnerships for health systems.
- 1871: Chicago's flagship digital startup hub, originally created by MATTER CEO Steven Collens while at Pritzker Group. Highly comparable as a multi-tenant innovation hub offering programming, mentorship, and community for early-stage ventures, though not healthcare-specific.
- Plug and Play Tech Center: Global innovation platform with a dedicated Health vertical running corporate-sponsored accelerator programs. Comparable in running multi-vertical, corporate-partnered accelerator cohorts and community-driven deal flow.
- Startup Health: Digital health-focused investor and accelerator running cohort-based programs with corporate and health system partners. Directly comparable as a healthcare-specialized accelerator with community and corporate partnership revenue models.
- IndieBio: Biotech and healthtech accelerator offering cohort programming, mentorship, and lab infrastructure. Comparable as a science- and health-focused accelerator serving early-stage ventures with cohort-driven programs.
- Newlab: Innovation hub operating vertical-specific programs including health, with corporate partnerships and venture studio activities. Comparable as a hub-plus-programs model serving health startups and corporate innovation teams.
- Bayer Co.Lab: Bayer's life sciences incubator network offering startups lab space, mentorship, and partnership access. Comparable as a pharma-backed health innovation incubator running cohort programs with corporate sponsorship.
Broad incumbents
- Johnson & Johnson Innovation – JLABS: Global network of life sciences and healthcare incubators operated by J&J. Comparable as a pharma-backed health innovation hub offering residency, mentorship, and corporate-partnered programming at scale.
- Cambridge Innovation Center (CIC): Large operator of innovation campuses and shared workspaces hosting startups, corporates, and accelerators. Comparable as a multi-tenant innovation hub operator, though broader than healthcare.
- MaRS Discovery District: Toronto-based innovation hub running health-focused programming and corporate venture services. Comparable as a large innovation district operator with health accelerator programs and enterprise partnerships.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
MATTER social profiles
Digital presenceMATTER financial estimates
Financial estimateRevenue estimate
Valuation estimate
MATTER leadership team
Management profileNumber of profiles
Profiles5 records
MATTER funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MATTER M&A and investment
M&A and investmentM&A
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MATTER
What does MATTER do?
MATTER operates a healthcare incubator and innovation hub that mobilizes a community of healthcare innovators through startup incubation programs (Egg), community collaboration (Nexus), and corporate innovation services. The organization equips healthcare entrepreneurs with knowledge, tools, network access, mentorship, and accelerator/competition programs while helping corporations source, co-develop, and validate emerging healthcare solutions. It serves as an infrastructure layer connecting startups, industry executives, investors, and health systems across the healthcare innovation ecosystem.
Is MATTER a public or private company?
MATTER is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was MATTER founded?
MATTER was founded in 2015. It employs 11 to 50 people.
Where is MATTER based?
MATTER is headquartered in Chicago, United States, in the North America region.
How does MATTER make money?
Three revenue lines are on record. Startup Membership Programs are the primary driver. The others are corporate Innovation Partnerships and accelerator and Challenge Programs.
Who are MATTER's main competitors?
Direct peers on record are Healthbox, 1871, Plug and Play Tech Center, Startup Health, IndieBio, Newlab and Bayer Co.Lab. Broad incumbents are Johnson & Johnson Innovation – JLABS, Cambridge Innovation Center (CIC) and MaRS Discovery District.
Does MATTER have an API?
No public API is recorded for MATTER.
What industry is MATTER in?
MATTER's product category is Healthcare Incubator and Innovation Services. Its primary akta.pro industry code is FSANAAAM, Accelerators & Incubators (Investor-Operated), with a secondary code of BPAGALAG, Health Access & Social Care Innovations (Community Health, Telehealth for Underserved). Its NAICS code is 5417 and its SIC code is 8000.