Health-Tech Incubators See Influx Of Startups

Arlene Weintraub | Entrepreneur | March 14, 2013

When Seth Freedman co-founded IntelligentM in December 2011, he was confident of the appeal of his company's product -- an electronic bracelet that keeps track of hand washing among health workers so hospitals can improve hygiene and better control the spread of infections. But Freedman's previous experience as an entrepreneur was in consumer products and GPS technology, so he lacked the connections to break into the competitive hospital market.

IntelligentM, based in Sarasota, Fla., applied and was accepted to Blueprint Health, a New York City-based business incubator that puts health IT startups through an intensive three-month program to help them fine-tune their products and connect with potential customers and financiers.

"We came in with a concept, a product and one pilot test," Freedman says. Now, as the program prepares to wrap up on April 4 with a "demo day" to venture capitalists, "we have made connections in the health-care space that have allowed us to expand to three full-paying customers and a pipeline of two dozen." The program also helped IntelligentM branch out into other markets, including food service.