Penn Health-Tech
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.
- Company typePrivate
- Founded2017
- HeadquartersPhiladelphia, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
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.
Penn Health-Tech firmographics
Firmographics- 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
Penn Health-Tech industry classification
Industry- 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
Where Penn Health-Tech is headquartered
LocationHeadquarters
- HQ city
- Philadelphia
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Penn Health-Tech business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others, Marketing or Sales, Technology or R&D
Revenue model
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Pilot funding for Health Tech Accelerator participants |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Penn Health-Tech product offering
Product offeringCore 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
Companies that use Penn Health-Tech
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles1 record
Penn Health-Tech technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Penn Health-Tech partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, major and supporting.
- Perelman School of MedicinecoreOne 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)coreOne of three founding schools of Penn Health-Tech, providing engineering and technical expertise for medical device development.
- Office of the Vice Provost for ResearchcoreOne of three founding entities supporting Penn Health-Tech, providing institutional research support and oversight.
- Children's Hospital of Philadelphia (CHOP)coreKey partner institution whose faculty and staff can participate in the Health Tech Accelerator program, providing clinical validation opportunities and pediatric healthcare focus.
- Venture LabmajorJoint partner in launching the Penn ELITE Fellowship to develop the next generation of health technology innovators, combining resources for entrepreneurship education.
- Penn Center for InnovationmajorGateway for connecting with Penn Health-Tech portfolio companies and technologies; provides additional commercialization resources and startup support.
- University City Science CentersupportingNon-profit organization located near Penn that commercializes promising technology and cultivates talent; partners on events and ecosystem building.
- Johnson & Johnson Innovation JLABSsupportingThrough 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
Penn Health-Tech competitors and assessment
Company assessmentOthers
- 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
Penn Health-Tech social profiles
Digital presencePenn Health-Tech financial estimates
Financial estimateRevenue estimate
Valuation estimate
Penn Health-Tech leadership team
Management profileNumber of profiles
Profiles13 records
Penn Health-Tech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Penn Health-Tech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Penn Health-Tech
What does Penn Health-Tech do?
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.
Is Penn Health-Tech a public or private company?
Penn Health-Tech is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Penn Health-Tech founded?
Penn Health-Tech was founded in 2017. It employs 11 to 50 people.
Where is Penn Health-Tech based?
Penn Health-Tech is headquartered in Philadelphia, United States, in the North America region.
How does Penn Health-Tech make money?
One revenue line is on record: institutional Funding & Grants.
Who are Penn Health-Tech's main competitors?
University City Science Center is listed as an others. Direct peers are Stanford Biodesign, Mount Sinai Innovation Partners, Vanderbilt Medical Innovators Program, Johns Hopkins Center for Bioengineering Innovation and Design (CBID), Cedars-Sinai Accelerator, MIT linQ (formerly MIT Hacking Medicine), Columbia BiomedX (Biomedical Engineering Technology Accelerator) and UCSF Rosenman Institute. Mayo Clinic Platform Accelerate is listed as a broad incumbent.
Does Penn Health-Tech have an API?
No public API is recorded for Penn Health-Tech.
What industry is Penn Health-Tech in?
Penn Health-Tech's product category is Health Technology Accelerator / Academic Innovation Services. Its primary akta.pro industry code is BPAGAKAL, Health & Medical Research Grantmaking Foundations, with a secondary code of EDAHABAC, Health & Biomedical Research Universities (Academic Medical Center–Affiliated). Its NAICS code is 5417 and its SIC code is 8731.