Early Stage Digital Health Companies In Philadelphia Get Boost With $6 Million Funding Initiative

Ben Franklin Technology Partners of Southeastern Pennsylvania, Independence Health Group and Safeguard Scientifics team up to foster healthcare IT innovation

PHILADELPHIA, Dec. 8, 2016 /PRNewswire/ —┬áPartnering to fuel Philadelphia’s innovative digital health ecosystem, Ben Franklin Technology Partners of Southeastern Pennsylvania (“Ben Franklin“); Independence Health Group (“IHG”), the parent company of Independence Blue Cross; and Safeguard Scientifics (“Safeguard”) (NYSE: SFE) today announced their intentions for a $6 million funding initiative over a four year period to grow technology-driven, early-stage healthcare startups.

Responding to a burgeoning economic vitality in digital health, Ben Franklin, IHG through a subsidiary, and Safeguard each intend to pledge $2 million to launch the funding initiative and will identify, vet, and allocate funds to augment the Philadelphia region’s continued growth and development in digital health. In addition, each will source new opportunities, extend guidance and support to the emerging seed-stage companies as they grow, and maximize the impact of the capital committed to the companies and their communities. Startup companies will receive funds based upon the quality of their business model, the technology’s viability, and a strong vision from the management team. Ben Franklin will lead the due diligence process and day-to-day fund management on potential opportunities.

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