Innovation

Bear’s Den: The First Incubator of Its Kind

Hackensack Meridian Health and the New Jersey Innovation Institute, a subsidiary of NJIT opened the Agile Strategies Lab, the first incubator of its kind for health care advances in New Jersey in August, 2017. The lab, located on the NJIT campus in Newark, is designed to help create and launch the next wave of problem-solving in health care through better devices, improved technology and more efficient services to provide a higher quality of care, lower costs, and an enhanced patient experience.

The concept is known as the Bear’s Den – 10 companies have already pitched ideas to a panel of experts including venture capitalists, patent attorneys and a variety of physicians and network experts. While many of the nation’s major academic medical centers have such incubators, this venture is truly unique because it brings together entrepreneurs and innovators from life sciences, engineering and technology – not just the clinical realm.

Hackensack Meridian Health has committed $25 million, a new revenue stream to help companies develop trailblazing products and services. This seed money will help launch ideas to the point where they can become viable and receive financing through venture capitalists.

“In health care, like any other field, we believe that it can always be better. We’re not waiting for someone else to do it better. Discoveries in medicine, technology and surgical procedures of the future are happening right here at Hackensack Meridian Health.” – Andrew Pecora, M.D., president, Physician Services Division and chief innovation officer at Hackensack Meridian Health.