In 2010, there were roughly 10 healthcare startups in Chicago, and only three still exist today.
Today, there are between 30 and 40 startups focused in MedTech, many of which are need a place like 1871 to collaborate and share ideas to fuel the future of healthcare innovation in Chicago.
That’s why MATTER, a new MedTech incubator housed in the Merchandise Mart, is finally giving early stage healthcare companies the resources they need. Patrick Flavin, executive director of MATTER, led a WellTech panel Thursday morning during Techweek Chicago, and laid out the reasons why MATTER is coming to Chicago at the right time.
During his research into the Chicago healthcare startup scene, he noticed that businesses needed three things: Infrastructure, entrepreneur education, and access to capital. Those resources were available for other early stage businesses, but it was missing in the healthcare sector.
“MATTER is growing the ecosystem,” Flavin said. “It’s about a change in culture.”