The New Jersey-based Tech Council Ventures, one of the Mid-Atlantic’s premier early-stage venture funds investing in health care, technology, energy and the environment, has signed on as Venture Capital Innovation lead partner for the Healthcare Innovation Engine at Liberty Science Center’s SciTech Scity.
Through the partnership, TCV will provide strategic guidance to start-up companies supported by the Engine and invest $250,000+ annually in one or more of them.
The SciTech Scity Healthcare Innovation Engine is a multi-stakeholder initiative to accelerate the adoption of digital-first health care solutions through real-world pilot programs with start-ups. The Engine is the first statewide platform for digital health adoption in the U.S. and is launching pilots with uninsured patients in cardiovascular health, oncology, post ER-care, maternal health and adolescent mental health.
The Engine is a flagship program of SciTech Scity, the 30-acre innovation campus being developed by Liberty Science Center to foster the growth of new companies that use science and technology for public good.
Besides Tech Council Ventures, Engine partners include RWJBarnabas Health, Bristol Myers Squibb, EY, New Jersey Innovation Institute, Princeton University, Nokia Bell Labs, New Jersey Economic Development Authority, New Jersey Department of Health, New Jersey Department of Human Services, and Jersey City Department of Health and Human Services.
“By combining SciTech Scity’s ecosystem of hospitals, universities, companies, and government partners with TCV’s investment expertise, this partnership is poised to create lasting impact for patients and communities,” Liberty Science Center CEO Paul Hoffman said.
“Start-ups supported by the Engine will not only gain the capital and validation they need to thrive but will also deliver innovations that expand access to care, reduce disparities, and improve outcomes for the most vulnerable.”
TCV Partner Mark Kolb noted the reasons to invest.
“We were drawn to the Healthcare Innovation Engine because it solves one of the biggest challenges start-ups face, which is moving beyond pilots to real market adoption,” he said.
“Too often, promising companies stall before they can demonstrate sustainable impact. This platform provides not only access to leading health systems and corporate partners but also serves as a pathway to reimbursement and scale.”
He added that for TCV, this is “an opportunity to invest in companies that can both thrive commercially and deliver meaningful improvements in care.”
Hoffman explained that the Healthcare Innovation Engine is “building a model for how states can harness public-private partnerships to make digital health more equitable, affordable, and effective — positioning New Jersey as a national leader in health care transformation.
The addition of TCV’s partnership to the Engine’s platform will help early-stage companies move beyond pilots, validate their business models, and scale into sustainable solutions that transform healthcare delivery and equity, Hoffman said.
This collaboration comes at a crucial time, according to Alex Richter, the executive director and head of the SciTech Innovation Hub, explained.
“At a time when healthcare systems are under pressure to deliver more with fewer resources, and policy makers are raising the bar on equity and innovation, our partnership with Tech Council Ventures is ensuring that the most promising digital health startups don’t just pilot in New Jersey–they scale here,” he said.
The Engine is starting to get recognized for its potential impact.
Last week, at the annual Urban Transformation Summit, the World Economic Forum bestowed its prestigious 2025 Public-Private Collaboration Award on the Healthcare Innovation Engine.
