Sixteen influential CEOs and business leaders in Boston are collaborating to build the city as a center for health technology.
The Massachusetts Competitive Partnership, comprised of 16 CEOs and executives, will seek funding from venture capitalists to attract health technology companies to Boston, according to the Boston Globe.
Boston attracted biotech companies with a $1 billion state initiative under Democratic Massachusetts Gov. Deval Patrick, and the partnership seeks to emulate that move with venture capital funding. Currently, few health tech companies are based around Boston, one being Watertown, Mass.-based athenahealth. To keep up with the venture capital growth in California and New York, the Massachusetts Competitive Partnership wants to attract health tech firms to the state. The primary targets are to attract cloud developers, firms to connect medical devices and data analytics companies.
The partnership intends to pursue incubator space and tax credits to attract angel investors and to establish a private equity fund that would invest in digital health companies, according to the Boston Globe.