New York is the newest location for an innovation center of the Chicago-based health-tech incubator Matter. 

In collaboration with the New York City Economic Development Corporation, Matter is working to connect startups with life sciences companies, health care providers, academic research centers and health-related organizations.

Steven Collens, Matter CEO, said

“the expansion will create East Coast opportunities for Chicago-based companies and help New York companies enter the Midwest,” yielding economic growth for all.

Matter plans to leverage its nonprofit, no-equity model to advance health care in the New York metropolitan area by streamlining business processes, developing new ways to treat diseases, and more.

Matter includes more than 200 health care-related startups globally, ranging from those in the early stages to those with millions of dollars in revenue, as well as more than 60 corporate partners. The incubator says members have collectively raised more than $1 billion in health care investment and created more than 3,700 jobs to date. The New York center will officially open in early 2021, located at 345 Park Avenue South and is being renovated to include lab space for entrepreneurs.