Penn Health-Tech

What Penn Health-Tech does

Penn Health-Tech (legal name: Penn Center for Health, Devices and Technology) is a non-profit university innovation center established in 2017 at the University of Pennsylvania, co-sponsored by the Perelman School of Medicine, Penn Engineering, and the Office of the Vice Provost for Research, with additional participation from Children's Hospital of Philadelphia (CHOP). It operates as a health technology accelerator rather than a product company, providing funding, hands-on project management, advising, and commercialization guidance to faculty and staff developing medical devices, diagnostics, digital health, biomaterials, robotics, and wearable technologies.

Its core programmatic offerings include the year-long cohort-based Health Tech Accelerator (HTA) program providing up to $75,000 in milestone-based pilot funding per team; the $80,000 NEMO Prize (established 2021 through a gift from alumnus Ofer Nemirovsky) for early-stage engineering-medicine ideas not yet ready for federal or private investment; the HTA Bootcamp (a four-month educational program); the Penn ELITE Fellowship (jointly with Venture Lab, launched December 2024); office hours with technical and clinical advisors; and the Catalyzer at Penn student program. Since inception, the center has supported 105+ teams, provided over $2.7 million in direct funding, and alumni have collectively secured $119 million+ in follow-on funding from grants, corporate investors, and venture capital.

Penn Health-Tech is funded through institutional appropriations from Penn Engineering, Penn Medicine, and the OVPR, supplemented by donor gifts and sponsored research support. It does not generate commercial revenue or sell a product. Leadership comprises Executive Director Dr. Katherine Reuther (formerly of Columbia's BiomedX), Faculty Director Dr. Brian Litt (Perelman Professor of Neurology, Neurosurgery and Bioengineering), and a small core staff of approximately 25, supported by faculty associate directors, clinical and technical advisors, and student/faculty fellows. Strategic ecosystem partners include Penn Center for Innovation, Venture Lab, Johnson & Johnson Innovation JLABS (JPOD @ Philadelphia), and University City Science Center.

Name

Penn Health-Tech

Legal name

Penn Center for Health, Devices and Technology (Penn Health-Tech)

Website

https://healthtech.upenn.edu

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Penn Health-Tech is the University of Pennsylvania's non-profit health technology accelerator, supporting UPenn and CHOP faculty with milestone-based pilot funding (up to $75K), commercialization advising, and programs like the HTA, NEMO Prize, and Penn ELITE Fellowship.

Ownership category

akta.pro rank

Product category

Health Technology Accelerator / Academic Innovation Services

NAICS

Scientific Research and Development Services (5417), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Health & Medical Research Grantmaking Foundations (BPAGAKAL)

akta.pro secondary industries

Health & Biomedical Research Universities (Academic Medical Center–Affiliated) (EDAHABAC), Health Science & Medical STEM Programs (Pre-Med, Public Health) (EDAMABAJ)

Keywords

• Health technology accelerator
• Medical device development
• University innovation center
• Biomedical research funding
• Startup commercialization support

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales, Technology or R&D

Revenue model

1. Institutional Funding & Grants: As a university innovation center, Penn Health-Tech operates through institutional funding from Penn Engineering, Penn Medicine, and the Office of the Vice Provost for Research, along with sponsored research support.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Penn Health-Tech operates a year-long, cohort-based Health Tech Accelerator that provides selected Penn and CHOP-affiliated faculty teams with milestone-gated pilot funding (up to $75,000), hands-on project management, technical and commercial advising, and access to clinical and regulatory expertise to develop medical devices and health technologies from concept toward commercialization. Its broader program portfolio also includes the NEMO Prize ($80,000 award), Penn ELITE Fellowship, HTA Bootcamp, Catalyzer at Penn student program, and Office Hours for advising.

Product overview

Penn Health-Tech is the University of Pennsylvania's Center for Health, Devices and Technology. It operates as a health technology accelerator and innovation hub, not a single unified product but rather a platform of programs and services. The core offerings include the Health Tech Accelerator (HTA) program providing funding and advisory support, the NEMO Prize award program, the Penn ELITE Fellowship, and the HTA Bootcamp educational program. These programs collectively support innovators in developing medical devices and healthcare technologies from early concept through commercialization.

Differentiator

Problem solved

Functional benefit

Brands

• NEMO Prize: Nemirovsky Engineering and Medicine Opportunity (NEMO) Prize - an $80,000 award supporting early-stage ideas at the intersection of engineering and medicine, established through a gift from Ofer Nemirovsky, EE'79, W'79, PAR'21
• Health Tech Accelerator (HTA)
• Penn ELITE Fellowship
• HTA Bootcamp

Products and services

• Health Tech Accelerator (HTA) A year-long, cohort-based accelerator program that provides selected Penn and CHOP-affiliated faculty teams with milestone-gated pilot funding of up to $75,000, hands-on project management, advising, and educational workshops to develop medical devices and health technologies from concept toward commercialization.
• NEMO Prize The Nemirovsky Engineering and Medicine Opportunity (NEMO) Prize provides $80,000 to support early-stage ideas at the intersection of engineering and medicine that are not yet ready for federal funding or private investment.
• Penn ELITE Fellowship The Emerging Leaders in Health Innovation, Technology, and Entrepreneurship (ELITE) Fellowship, jointly offered with Penn's Venture Lab, prepares the next generation of health-tech innovators and supports commercialization of university-developed technologies.
• HTA Bootcamp A four-month strategic technology development and innovation education program led by Dr. Katie Reuther, providing frameworks for validating problems and commercial opportunities.
• Office Hours One-on-one sessions with Penn Health-Tech faculty and staff to review ideas for novel health technologies, development processes, and resources available through the center.
• Catalyzer at Penn A two-month program that introduces Penn students to healthcare innovation and entrepreneurship, culminating in an immersive two-day makerthon.

Quantifiable outcome

• Over $119 million in follow-on funding secured by alumni
• +2 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core, major and supporting.

• Perelman School of MedicinecoreStrategic or Co-development PartnerOne of three founding schools of Penn Health-Tech, providing clinical expertise and research capabilities for health technology innovation.
• Penn Engineering (School of Engineering and Applied Science)coreStrategic or Co-development PartnerOne of three founding schools of Penn Health-Tech, providing engineering and technical expertise for medical device development.
• Office of the Vice Provost for ResearchcoreStrategic or Co-development PartnerOne of three founding entities supporting Penn Health-Tech, providing institutional research support and oversight.
• Children's Hospital of Philadelphia (CHOP)coreStrategic or Co-development PartnerKey partner institution whose faculty and staff can participate in the Health Tech Accelerator program, providing clinical validation opportunities and pediatric healthcare focus.
• Venture LabmajorStrategic or Co-development PartnerJoint partner in launching the Penn ELITE Fellowship to develop the next generation of health technology innovators, combining resources for entrepreneurship education.
• Penn Center for InnovationmajorChannel Partner/ Reseller/ DistributorGateway for connecting with Penn Health-Tech portfolio companies and technologies; provides additional commercialization resources and startup support.
• University City Science CentersupportingStrategic or Co-development PartnerNon-profit organization located near Penn that commercializes promising technology and cultivates talent; partners on events and ecosystem building.
• Johnson & Johnson Innovation JLABSsupportingStrategic or Co-development PartnerThrough JPOD @ Philadelphia at Pennovation Center, provides startup incubation and acceleration resources within JLABS global network of 600+ companies.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Others

• University City Science Center: Philadelphia-based non-profit that commercializes promising technology and cultivates talent, partnering with Penn Health-Tech on ecosystem events. Not a direct competitor but an adjacent enabling organization in Penn's regional innovation ecosystem.

Direct peers

• Stanford Biodesign: Stanford's flagship health-technology innovation program that trains fellows and supports faculty/student teams developing medical devices. Directly comparable as a university-anchored health-tech accelerator with similar mission, cohort model, and follow-on funding focus.
• Mount Sinai Innovation Partners: Mount Sinai Health System's commercialization arm supporting faculty innovators in translating research into products. Comparable as an academic medical center-affiliated innovation center with technology transfer, funding, and commercialization functions.
• Vanderbilt Medical Innovators Program: Vanderbilt University Medical Center program supporting faculty-driven medical device and health-tech innovation through funding and advising. Comparable as a university medical center-anchored innovation program targeting early-stage technologies.
• Johns Hopkins Center for Bioengineering Innovation and Design (CBID): Johns Hopkins University program focused on medical device design and translation led by engineering and medical faculty. Comparable as a university-based program that funds and supports faculty/student teams developing medical devices.
• Cedars-Sinai Accelerator: Hospital-based accelerator program supporting early-stage health-tech and digital health companies with clinical validation access. Comparable mission and structure, with strong clinical partner network analogous to Penn Medicine and CHOP.
• MIT linQ (formerly MIT Hacking Medicine): MIT's health-care innovation program that runs hackathons, workshops, and accelerator-style programs supporting health-tech ventures. Comparable as a leading university-affiliated health-tech innovation platform with similar faculty/student entrepreneur focus.
• Columbia BiomedX (Biomedical Engineering Technology Accelerator): Columbia University's biomedical engineering accelerator that Penn Health-Tech's Executive Director previously led. Operates a near-identical model of cohort-based faculty support, funding, and commercialization advising for medical devices and health technologies.
• UCSF Rosenman Institute: UCSF's health-tech innovation platform supporting startups and faculty innovators across medical devices, digital health, and diagnostics. Comparable as an academic medical center-affiliated accelerator with similar cohort and advising structure.

Broad incumbents

• Mayo Clinic Platform Accelerate: Mayo Clinic's broader health innovation platform offering accelerator, validation, and AI/clinical data services to health-tech startups. Overlaps with Penn Health-Tech's accelerator model but operates at a much larger, system-wide scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/PennHealthTech
• Facebookfacebook.com/PennHealthTech
• LinkedInlinkedin.com/company/penn-health-tech

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Penn Health-Tech