For Immediate Release: February 7, 2023
KANSAS CITY, MO – BioNexus KC, a catalyst for innovation in animal and human health, has received a grant totaling $311,000 from the Missouri Technology Corporation (MTC) under the Missouri Building Entrepreneurial Capacity (MOBEC) Project Support Grant Program, further solidifying the region’s leadership in digital health innovation.
“This award is a thrilling opportunity to propel Kansas City as a dynamic leader in digital health innovation,” said Dennis Ridenour, President and CEO of BioNexus KC. “Our unwavering dedication to fostering healthcare innovation aligns with Digital Health KC and its mission to catalyze new companies and accelerate the journey from idea to impactful reality.”
This funding will enable Digital Health KC to establish vital connections with investors, healthcare providers, and payers – critical for digital health companies seeking access to capital, forging partnerships, and fostering growth. Digital Health KC will provide various forms of support, including entrepreneurial mentoring, networking, training, and commercial assistance.
The two-year project goals include:
- Active participation of 110 companies in Digital Health KC
- Cultivation of a network comprising 100 investors and $25M in digital health company investments
- Facilitating six pilots or contracts for participating digital health companies
- Generation of 70+ jobs and $6M+ in new wages
To realize these objectives, Digital Health KC will introduce two new programs: Investor and Customer Connect. The Investor Connect program will catalyze pathways, focusing on improving access to capital for the region’s digital health companies. The Customer Connect program aims to enhance customer access for KC digital health companies, providing feedback, access to pilots, and early customer connections. This funding will also establish the Provider and Payor Council, which is crucial in delivering early-stage feedback on product offerings and business models.
“This support from MTC not only highlights the pivotal role that Digital Health KC is set to play in seamlessly connecting digital health companies with investors and clients,” said Dick Flanigan, CEO of Digital Health KC, “but it also marks an exciting moment as we integrate these crucial pieces into our dynamic digital health ecosystem, to achieve greater impact.”
The MOBEC grant will leverage matching funds from several vital partner organizations, including the Carrie J. Loose Trust, Polsinelli, ARCHIMED, and the State of Kansas.
The MOBEC Grant Program, a cornerstone in the investment strategy for MTC, aims to nurture home-grown high-tech companies. With a strategic focus on supporting entrepreneurs, these grants aim to accelerate the commercialization of new technologies and enhance Missouri’s capacity to thrive in innovation.
About BioNexus KC:
The KC region is a global leader at the nexus of human and animal health, inspiring thinkers from diverse disciplines to combine their efforts for a common purpose — healthcare innovation. For nearly 25 years, BioNexus KC has been advancing the region’s strengths in digital health, cancer research, health equity, informatics, and rare disease.
BioNexus KC stimulates collaboration, accelerates emerging technology from concept to reality, and creates opportunities at the nexus of:
- Human and Animal Health
- Urban and Rural Health
- Healthcare and Information Technology
- Academia and Industry
- Kansas and Missouri
About Digitial Health KC:
With over 100 companies and 25,000 experienced professionals, Kansas City’s digital health companies are solving healthcare’s biggest challenges. Digitizing healthcare requires deep knowledge and experience of the care process, payment models, and data.
Digital Health KC supports existing companies, from start-ups to the largest enterprises, while attracting digital health businesses to the KC region. Digital Health KC connects ideas, talent, companies, capital, and customers to advance healthcare innovation.
BioNexus KC – Director, Communications and Marketing