MATTER announces non-dilutive funding for digital health startups addressing health security threats | MATTER Blog

Program is part of MATTER’s Paratus Digital Health Accelerator, the digital health arm of the BARDA Accelerator Network

January 8, 2025, CHICAGO — MATTER, the premier healthcare incubator and innovation hub, has launched new, non-dilutive funding opportunities through our Paratus Digital Health Accelerator. Paratus is part of the Biomedical Advanced Research and Development Authority (BARDA) Accelerator Network and aims to empower early-stage digital health innovators and companies to address health security threats and advance clinical care solutions.

MATTER’s Paratus Digital Health Accelerator offers funding and support services to help entrepreneurs validate the clinical, technical and business elements of their products. These projects are discrete, non-pilot initiatives that do not require institutional review board (IRB) approval. Most engagements last less than six weeks, though longer projects will be considered. Uniquely, the program can connect innovators with mission-aligned study sites in evaluating specific hypotheses for novel digital health medical countermeasures.

The non-dilutive funding program seeks digital health solutions that support preparedness, health readiness and mobilization. Examples include:

• Technologies to enhance clinical trials for medical countermeasures, such as innovations improving trial diversity, recruitment, retention or optimized trial design.
• At-home digital diagnostics and telemedicine solutions leveraging artificial intelligence (AI) and machine learning (ML) for diagnosis and risk assessment.
• Novel approaches to real-world evidence collection and validation for therapeutics, devices and diagnostics, including AI/ML applications.
• Digital twin approaches utilizing multimodal clinical data (e.g., EHR, imaging, unstructured notes) for early disease identification, endotyping or treatment guidance.
• Integrated capabilities for pre-hospital deterioration identification to assist in assessing, diagnosing and treating chemical, burn, radiological or nuclear (CBRN) mass casualty patients. Innovations may include sensor data collection, AI model development, user-facing interfaces for responders and clinicians, or tools for integration with larger healthcare enterprises.

“The funding we’re making available will help catapult startups toward their next milestones, harnessing our extensive network of mentors and study site partners in addition to the capital,” said Steven Collens, CEO of MATTER. “This program will help build the resilience and readiness of the United States so we’re better prepared for the next public health emergency, be it a pandemic or anything else.”

The Paratus Accelerator provides funding for quick-turn projects, typically spanning six weeks or less, with awards ranging from $20,000 to $40,000. More in-depth projects of up to 12 weeks are also eligible for funding between $100,000 and $180,000. Funding can be used to:

• Advance technologies to the next milestone.
• Engage study sites for validation work.
• Enhance access and accelerate dissemination of medical countermeasures.
• Reduce the cost of medical countermeasures.
• Improve platforms to advance clinical research and care coordination.

Participating companies will benefit from non-dilutive funding to complete time-bound, milestone-based projects. They will also receive mentorship from industry leaders and subject matter experts, along with exposure to potential investors, partners and clients.

Applications for the Paratus Digital Health Accelerator non-dilutive funding program are now open and will close at 11:59 p.m. CT on January 31, 2025. To learn more, visit our Paratus non-dilutive funding page.

As part of the U.S. Department of Health and Human Services’ Administration for Strategic Preparedness and Response, BARDA’s mission is to ensure the nation’s readiness to respond to health security challenges by supporting emergency medical countermeasures. The Paratus Digital Health Accelerator, named after the Latin word for “ready for anything,” is central to this mission, focusing on developing and validating innovative digital health solutions that enhance preparedness and improve the continuum of care.

MATTER’s Paratus Digital Health Accelerator is one of five hubs in the BARDA Accelerator Network, joining I-CREATE, VITAL, Vanguard and SPARK. Together, the network provides comprehensive support to health security innovators and BARDA portfolio companies through accelerator services, technical and business expertise, and resources. The network’s mission is to facilitate the rapid development, evaluation, validation and commercialization of medical countermeasures.

To learn more about the Paratus Digital Health Accelerator, visit matter.health/paratus.

This project has been supported in whole or in part with federal funds from the U.S. Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA), under agreement number 75A50124C00028.

About MATTER
At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 1,000 current and alumni startups from around the world, working together with dozens of hospitals and health systems, universities and industry-leading companies to build the future of healthcare. Together we are accelerating innovation, advancing care and improving lives. For more information, visit matter.health and follow @MATTERhealth.