The Westchester County Office of Economic Development (OED), the Westchester County Biosciences Accelerator (WCBA) and the Westchester County Association (WCA) hosted “An Ounce of Prevention – Challenges to Innovating in Preventative Health Care” on Dec. 7.
Innovations in health care that target prevention in order to improve patients’ quality of life and potentially save money as well have an arduous path to approval and making the business case for adoption can also be challenging. Such were the challenges the panelists faced when discussing how new therapies and devices can entice private investment, how they can navigate the coming challenges with government, providers, investors and patients.
The morning event featured a panel discussion moderated by Mary Howard, executive director of FirstXFounder, and program director for the WCBA. Panel participants included Andrea H. Cefarelli, senior vice president, corporate communications, New York Blood Center Enterprises; Silvia Garcia Codony, senior director, NY Ventures; and Merja Perhonen, M.D., Ph.D., head of exercise medicine, Keski-Suomen, Central Finland.
Westchester County Executive George Latimer said: “Life science companies of various stages call Westchester home, and we are dedicated to helping them continue to grow and find success. This event spotlighted one of the most potentially impactful aspects of health care….”
Westchester County Director of Economic Development Bridget Gibbons said, “Life sciences is a pillar of our local economy, and the Office of Economic Development is invested in supporting the continued growth and success of our ecosystem….”
Amy Allen, vice president of WCA, said “Our county is home to top medical institutions and a growing life sciences industry. In order for Westchester to continue to be a leader in this field, it is important for us to continue to bring the leading minds in the space together for important discussions that help create new opportunities and drive innovation.”
Mary Howard, WCBA program director and FirstXFounder CEO, said “Health care is projected to total 40% of the GDP, and innovations that target prevention can potentially save money and improve quality of life for patients….”
The tri-state region leads the nation in recent life science activity. Westchester County, in particular, is home to the largest life sciences cluster in New York state, with more than 8,000 jobs, representing over 20% of the state’s total (private sector) life sciences employment.
The Westchester County Biosciences Accelerator is a competitive-entry, six-month-long program that helps grow emerging bioscience ventures by providing scientist and engineer inventors entrepreneurship education and business networking to access global funders and prospective team members. WCBA supports the development of Westchester as a hub of bioscience invention and commercialization by harnessing the creativity and ambition present in the academic institutions, spinouts from established companies and serial entrepreneurs.
The Westchester County Association unites and mobilizes professional leaders to promote issues and lead initiatives that strengthen the regional economy. It is dedicated to smart-business growth and advancing the well-being of the community.
