PHILADELPHIA, PA--(Marketwired - April 03, 2013) - Independence Blue Cross (IBC), Penn Medicine and DreamIt Ventures today announced the 10 health care startup companies selected to participate in DreamIt Health, the first-ever Philadelphia-based health care accelerator. The 2013 DreamIt Health inaugural class will enter a four-month boot camp, beginning this Monday, April 8, to help rapidly advance the development of their innovative health care solutions and business models.DreamIt Health will be hosting a Kickoff Weekend Reception for the Philadelphia entrepreneurial community at Venturef0rth on Friday, April 5, 2013 at 6 p.m. to welcome the 10 companies and celebrate the program launch.

Sponsored by IBC and Penn Medicine, DreamIt Healthlaunched in December 2012 with a nationwide search for unique health care startups who apply technology to the challenges of keeping people healthy and providing more effective and affordable interventions at the point of care.

IBC, Penn Medicine, and DreamIt Ventures selected the 10 participating companies based on the strength of their founders and their entrepreneurial passion, and the level of innovation in their products or services. Each startup will receive a stipend of up to $50,000. During the four-month boot camp, they will receive in-depth mentoring and coaching from experienced entrepreneurs and health care executives, and access to information and guidance from IBC, Penn Medicine, and others to help develop their products. Additionally, the companies will be provided workspace at Venturef0rth in Philadelphia and have an opportunity to test their business models with potential customers.

"At IBC, we believe that innovation is the key to bringing fresh ideas into health care, and are working to transform the Philadelphia region into a national magnet for health care innovation, investment, and employment. We must continue pushing the envelope and providing opportunities for the brightest minds to create solutions for unmet health care needs," said Daniel J. Hilferty, president and CEO of IBC.

"Both IBC and DreamIt Ventures share our passion for health care innovation, which is why it was such a great match for us to work together to launch Philadelphia's first health care accelerator," noted Ralph Muller, CEO of University of Pennsylvania Health System. "Through this program, these 10 entrepreneurs have access to unique resources to develop and execute innovative business models that will advance and benefit the health care industry as a whole. I am excited to see what the future holds for these companies."

The 10 selected companies are:

"DreamIt Health has found the working relationship with Penn Medicine and IBC to be highly collaborative and engaging.We are looking forward to working with the selected teams and know that the DreamIt framework and collaborative partners will be effective in developing these selected companies," said Karen Griffith Gryga, Managing Partner of DreamIt Ventures.

Supporting sponsors of DreamIt Health include Towers Watson, a leading global professional services company, as well as law firms, Morgan Lewis and Pepper Hamilton. More information about the Towers Watson partnership can be found here.

About Independence Blue Cross

Proudly celebrating its 75th anniversary in 2013, Independence Blue Cross is the leading health insurer in southeastern Pennsylvania. With our affiliates, we serve more than seven million people nationwide. We are enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more about how we're changing the game, visit http://www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.

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Ten Startups Selected for DreamIt Health , Philadelphia's First Health Care Accelerator