MATTER (healthcare incubator)

MATTER (healthcare incubator) is a Chicago-based healthcare incubator and innovation hub founded in 2015 that connects entrepreneurs, clinicians, investors, and institutions to develop medical devices, digital health platforms, and life sciences ventures. The organization leverages partnerships with hospitals, universities, industry groups, and foundations to accelerate early-stage companies through programming, coworking space, mentorship, and capital introductions.

History

MATTER was established in 2015 amid a wave of healthcare innovation activity involving institutions such as Northwestern University, University of Chicago, University of Illinois Chicago, Rush University Medical Center, and Lurie Children's Hospital. The founding initiative drew on models from StartUp Health, Rock Health, Plug and Play Tech Center, and Cambridge Innovation Center to create a sector-specific hub responsive to clinical needs identified at Barnes-Jewish Hospital, Johns Hopkins Hospital, and regional health systems. Early supporters included philanthropic entities and corporate partners analogous to Robert Wood Johnson Foundation, Kresge Foundation, and GE Healthcare, while civic stakeholders such as City of Chicago and World Business Chicago endorsed the effort to boost regional innovation comparable to initiatives in Silicon Valley, Boston, and Seattle. Over subsequent years MATTER expanded programming alongside international embodiments like Medicxi, SOSV, and Johnson & Johnson Innovation, while engaging clinicians from Mayo Clinic, Cleveland Clinic, and Massachusetts General Hospital.

Mission and Programs

MATTER's mission emphasizes accelerating healthcare innovation by supporting entrepreneurs addressing clinical problems recognized by practitioners at institutions such as Northwestern Memorial Hospital, Rush University Medical Center, Ann & Robert H. Lurie Children's Hospital of Chicago, and VA Hospitals. Core programs include accelerator cohorts modeled on frameworks from Y Combinator, Techstars, and MassChallenge, mentorship networks influenced by Plug and Play, and residency-style fellowships similar to Stanford Biodesign. Programming pairs startups with domain experts from Abbott Laboratories, Medtronic, Pfizer, Roche, and Siemens Healthineers and offers workshops on regulatory strategy referencing U.S. Food and Drug Administration, reimbursement pathways involving Centers for Medicare & Medicaid Services, and clinical trial design with partners like ICON plc and Parexel International. MATTER also runs corporate innovation initiatives that mirror collaborations between Novartis and GSK and deploys venture formation support inspired by Flagship Pioneering and Third Rock Ventures.

Facilities and Partnerships

Located in Chicago's health and technology corridor, MATTER occupies coworking and wet lab-adjacent space proximate to Rush University, Northwestern University Feinberg School of Medicine, and the Illinois Medical District. Facilities include prototyping workshops, conference suites, and collaboration spaces comparable to amenities at Cambridge Innovation Center and Industrious. Strategic partnerships encompass major healthcare corporations such as GE Healthcare, Abbott Laboratories, Medtronic, and Johnson & Johnson, academic partners including University of Chicago Medicine and Northwestern Medicine, and investor relationships with firms like Kleiner Perkins, Sequoia Capital, Bessemer Venture Partners, and Oak HC/FT. MATTER's network extends internationally through linkages with organizations like NESTA, Wellcome Trust, European Institute of Innovation and Technology, and corporate partners in Tokyo, London, and Tel Aviv.

Notable Startups and Alumni

Alumni startups emerging from MATTER cohorts include companies working in digital therapeutics, medical devices, diagnostics, and care delivery platforms that have engaged investors such as New Enterprise Associates, Andreessen Horowitz, Domain Associates, and SV Health Investors. Representative alumni have pursued regulatory clearance with U.S. Food and Drug Administration pathways, commercial partnerships with Kaiser Permanente and UnitedHealth Group, and pilot programs with hospital systems like Cleveland Clinic and Mount Sinai Health System. Several alumni have been covered by media outlets including The New York Times, The Wall Street Journal, Forbes, and STAT News and have received awards from institutions such as HIMSS and Rock Health showcases.

Funding and Governance

MATTER's funding model combines membership revenue, program fees, philanthropic grants, and corporate sponsorships with investors including foundations similar to Robert Wood Johnson Foundation and venture firms analogous to Polaris Partners. Governance includes a board and executive leadership with experience drawn from institutions such as Abbott Laboratories, Pfizer, Northwestern University, The University of Chicago Booth School of Business, and civic organizations like World Business Chicago. Strategic advisory boards feature clinicians and entrepreneurs affiliated with Mayo Clinic, Cleveland Clinic, Stanford University School of Medicine, and leading venture capital firms such as Sequoia Capital and Bain Capital Ventures.

Category:Business incubators Category:Healthcare innovation