Hackensack Meridian, Choose New Jersey launch HMH Emerge, effort to partner with health care startups from Ireland

Hackensack Meridian Health, already a dominant player in the New Jersey landscape, is showing it has global aspirations, too.

Starting in Ireland.

HMH is partnering with Choose New Jersey on a unique initiative, HMH Emerge — a new, exclusive pitch competition for Ireland-based health startups, providing an unparalleled opportunity to take ideas to reality through piloting, partnering, mentorship and/or investment.

The opportunity is to provide Irish companies with new health care innovations with the chance for growth and opportunity, designed to propel health care innovation to the global stage, said Dr. Ihor Sawczuk, the president of academics, research and innovation at HMH.

“HMH Emerge is a new way for our cutting-edge health network to develop further global talent, ideas and collaborations,” he said.

“Our goals are for revolutionizing health care not just in New Jersey, but on the world stage.”

Bill Noonan, the chief business development officer at Choose New Jersey, said Choose is eager to help.

“We have fantastic relationships with our colleagues in Ireland,” he said. “It’s such a vibrant place for innovation and enterprise, and we are glad to help catalyze such potential, for everyone’s benefit.”

The program is open to all groups from Ireland.

The process includes an initial two-minute, high-level video pitch — which will lead to the selection of 10 startups for a unique combination of mentorship and refinement, targeted at tailoring commercialization opportunities in the U.S. health care market.

The Top 3 startups selected will present their refined pitches to the HMH Bear’s Den board, which includes HMH executives, board members and external investors.

The potential partnership, piloting opportunities, and investments are decided on a case-by-case basis and based on a mutually beneficial outcome. Intellectual property protection is assured by nondisclosure agreements.

Sandra Powell-Elliott, HMH’s chief innovation officer, said the potential impact of the program is great.

“This is a fantastic opportunity to leverage such promising innovation from our colleagues across the Atlantic,” she said. “In trade, these companies can get invaluable footholds in the American market. It’s a winning idea, in both directions.”

Read the full story on ROI-NJ here.