{"id":6524,"date":"2015-02-17T10:52:12","date_gmt":"2015-02-17T16:52:12","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=6524"},"modified":"2015-02-17T10:56:19","modified_gmt":"2015-02-17T16:56:19","slug":"matter-officially-opens-boosting-healthcare-innovation","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/matter-officially-opens-boosting-healthcare-innovation\/","title":{"rendered":"MATTER officially opens, boosting healthcare innovation"},"content":{"rendered":"

By Jin Wu<\/p>\n

CORRECTION: An earlier version of this story incorrectly stated the number of health care entrepreneurs that had begin working in MATTER’s incubator. The correct number is now included below.<\/div>\n

Governor Bruce Rauner<\/a>, Senator Dick Durbin<\/a> and Mayor Rahm Emanuel<\/a> marked the official opening of MATTER<\/a>, Chicago\u2019s new entrepreneurship and innovation incubator in the Merchandise Mart <\/a>for digital healthcare, medical devices, diagnostics and biopharma start-ups, to \u201cget Illinois\u2019 healthcare technology booming.\u201d<\/p>\n

MATTER, the not-for-profit incubator, has already got its first groups of members; more than 100\u00a0healthcare entrepreneurs\u00a0moved into the open space last week and dozens more will move in in a couple weeks, according to MATTER\u2019s CEO Steven Collens<\/a>.<\/p>\n

<\/p>\n

\"Steven<\/a>
Steven Collens, CEO of MATTER, announces its official opening Friday, talking about the mission and vision of MATTER. (Jin Wu\/Medill)<\/figcaption><\/figure>\n

MATTER was born under public and private collaboration, with totally an $8 million input. By creating personalized curriculums, workshops and inviting experts to be mentors, MATTER is trying to bridge healthcare and technology.<\/p>\n

\u201cRight now, there\u2019s just so much lag work involved with identifying someone who understands healthcare, and MATTER brings it all together,\u201d said Star Cunningham, the founder of 4D Healthware<\/a>, a member of MATTER that focuses on increasing patient engagement and changing lifestyle through a web-based dashboard. \u201cNow we have a home. As a healthcare start-up, I am surrounded by people who want to help us succeed and also understand the changes that need to be done in healthcare.\u201d<\/p>\n

\"Dr.<\/a>
Dr. Dana Edelson, the founder of Quant HC, talks about how MATTER helped her to start her business. (Jin Wu\/Medill)<\/figcaption><\/figure>\n

Dr. Dana Edelson<\/a> is the founder of Quant HC<\/a>, one of the first members of MATTER. It\u00a0develops an algorithm to send medical staff alerts about a patient\u2019s deteriorating condition by analyzing aggregated data. She said it was MATTER that made her business possible. \u201cMATTER provides us the access to mentors, colleagues, capital and also others in the curriculum,\u201d she said. \u201cTo be frank, I would be too terrified to start if I do it alone.\u201d<\/p>\n

As part of Mayor Emanuel\u2019s ChicagoNEXT<\/a>, MATTER got a one-time $4 million funding from the Illinois government. MATTER is expected to boost the Illinoi\u2019s economy and improve Illinoi healthcare system by incubating healthcare start-ups.<\/p>\n

\u201cInnovation jobs have a ripple effect on the workforce by creating more jobs and growing the economy,\u201d said Gov. Rauner, \u201cNothing is more important than the economic future and prosperity to the state of Illinois. Bringing healthcare and technology together, leveraging the resources, the knowledge, the relationship, and the expertise in healthcare, are especially important.\u201d<\/p>\n

In the press release, Sen. Durbin also mentioned the benefits MATTER will bring to Illinois\u2019 economy. \u201cMATTER\u2019s opening is great news for Chicago\u2019s healthcare economy. The region already has a dynamic healthcare community with world-class companies, but MATTER will take us to the next level. Innovation requires a collaboration approach, and MATTER will give industry leaders and startups a chance to work together to bring next-generation products and services to improve care and save lives.\u201d<\/p>\n

\"Gov.<\/a>
Gov. Bruce Rauner, Sen. Dick Durbin and Mayor Rahm Emanuel speak at MATTER’s official opening ceremony Friday, emphasizing healthcare innovation’s contribution to Illinois’ economy. (Jin Wu\/Medill)<\/figcaption><\/figure>\n

The speakers said that MATTER would be a key contributor to the city\u2019s economy ecosystem. Mayor Emanuel emphasized that at the grand opening. \u201cBy empowering entrepreneurs in the growing field of health innovation technology, MATTER will create new jobs, attract new companies, and make Chicago more economically competitive for years to come,\u201d he declared.<\/p>\n

The digital healthcare industry experienced a sharp growth in 2014 and is expected to keep growing in the future, Collens said.<\/p>\n

\u201c[The digital healthcare growth] is a tsunami right now,\u201d said James L. Madara, M.D., CEO of the American Medical Association<\/a>, which announced its partnership with MATTER last week. \u201cWe see the change from dominantly inpatient to dominantly outpatient in the last century, and over the quarters of century, it will change from dominantly outpatient to dominantly home. So physician\u2019s offices will be virtual and a lot of digital healthcare will come out. The problem is how do you organize that and make that efficient. We are working with digital community and thinking about that now.<\/p>\n

Sen. Durbin said: \u201cWe work hard in Washington to come up with more efficient and cost-effective healthcare for America and the world. That is going to explode here on an entrepreneurial basis. Whether it\u2019s medical records or new technology, the object is just to keep people healthier with lower-cost while without scarifying quality healthcare to individuals.\u201d<\/p>\n

According to a latest Accenture report, Chicago is the number six tech destination in U.S., but mayor Emanuel sets the goal high. \u201cSix isn\u2019t good enough. Now we have MATTER, the foundation has been laid to boost Chicago\u2019s technology innovation further.\u201d He said that he believes Chicago could be the \u201chub for digital manufacturing,\u201c and Gov. Rauner envisioned Chicago to be the \u201ccapital of America for healthcare innovation.”<\/p>\n

\"Experts<\/a>
Experts from Illinois’ healthcare community, venture capital investors and healthcare entrepreneurs attend MATTER’s official grand opening Friday. (Jin Wu\/Medill)<\/figcaption><\/figure>\n

Although expecting to have further support from the government, Collens said MATTER would have to rely on its own sustainable revenues starting from today, which are mainly from membership fees and corporation partnerships.<\/p>\n

Collens said the ample resources MATTER has aggregated are helping struggling healthcare start-ups improve, expand, and succeed.<\/p>\n

\u201cWe have office hours with investors, partners, people who are all involved in the ecosystem of healthcare. So they are really able to help you,\u201d Cunningham said. \u201cIf they don\u2019t know how to do it, chances are they know someone who know how to get you what you need.\u201c<\/p>\n

MATTER will hold its first workshop for members in late February, Collens said.<\/p>\n

Photo at top: MATTER staff members painted the wall inside the open space, illustrating ideas of healthcare innovation. (Jin Wu\/Medill)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Jin Wu CORRECTION: An earlier version of this story incorrectly stated the number of health care entrepreneurs that had begin working in MATTER’s incubator. The correct number is now included below. Governor Bruce Rauner, Senator Dick Durbin and Mayor Rahm Emanuel marked the official opening of MATTER, Chicago\u2019s new entrepreneurship and innovation incubator in […]<\/p>\n","protected":false},"author":35,"featured_media":6534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,26,243],"tags":[192],"class_list":["post-6524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-topics","category-winter-2015","tag-promo"],"yoast_head":"\nMATTER officially opens, boosting healthcare innovation - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/matter-officially-opens-boosting-healthcare-innovation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MATTER officially opens, boosting healthcare innovation - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Jin Wu CORRECTION: An earlier version of this story incorrectly stated the number of health care entrepreneurs that had begin working in MATTER’s incubator. 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