MATTER
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Location |
Chicago, IL |
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|---|---|---|
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Build to Scale Program |
Venture Challenge |
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Project Name |
MATTER Venture Acceleration |
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Award Amount |
Federal Share |
Local Match |
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$1.3 million |
$1.5 million |
MATTER will scale its two-year pilot program that supports healthcare startups and small-to-medium enterprises (SMEs) to design, build, and deploy meaningful solutions for today’s most pressing healthcare challenges. The Venture Acceleration (VA) program encapsulates the entire spectrum of resources required to serve SMEs across five key stages of development: market assessment, design and build, market validation, customer acquisition, and scaling. This program will recruit startups/SME/entrepreneurs, including those from historically underrepresented communities, to nurture their business ideas alongside experienced industry leaders to develop healthcare solutions ready for commercialization. Based on the results of the pilot program, VA will develop and implement an algorithm-driven platform using machine learning (ML) technology that will revolutionize the way incubators serve entrepreneurs and push the innovation community to rethink the way they deliver resources to serve SMEs across all stages of growth.
VA will enable the rapid creation, deployment, and scaling of next-generation digital health and life sciences technologies. Through VA, MATTER will engage 150 newly recruited SMEs, along with the 60 enrolled in the pilot, that will participate during the three-year grant period for a total of 210 served. These SMEs have the potential to generate more than $75 million in revenue and create over 3,000 jobs within three years post-award.