Digital health companies in the United States raised $4.9 billion in 2017 with the remaining $2.3 billion coming from other countries.
It has found 2017 to be the record-smashing year for the industry, with the highest amount of venture funding and the most mega deals ($100M+) to date.
The company has found that Q4 2017 was the largest fourth quarter on record with $2.3B of funding raised across 227 deals.
The network is designed to rapidly pilot technologies of NYC-based startups to advance healthcare, create jobs and strengthen City's health tech sector.
The fund is also looking to provide guidance to startups that apply new technologies to solve healthcare's most pressing challenges.
Selected startups will undergo an intensive 3-month program to test, build and scale their products across providers, insurers and pharma companies.
The 6-month mentorship program aims to help applied machine learning startups build great products using the most advanced tools and technologies available.
The class has seven companies, including a NASA remote monitoring tech, VR for chronic pain, and more.
The initiative aims to attract dozens of U.S. and international healthcare startups to Cleveland each year.
The third quarter VC funding came to $1.5B in 227 deals, a 38 percent decrease compared to the record $2.4B raised in 194 deals in Q2 2017.