Blockchain Firm SimplyVital Health Awarded $225,000 Grant From National Science Foundation
Blockchain startup SimplyVital Health has been awarded a National Science Foundation (NSF) Small Business Technology Transfer (STTR) grant for $225,000.
“NSF is proud to support the technology of the future by funding the most creative, impactful ideas,” said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF.
“With our support, deep technology startups can guide basic science into meaningful solutions that address tremendous needs.”
The grant was awarded to conduct research and development on the integration of the Graphene protocol with SimplyVital Health’s Health Insurance Portability and Accountability Act (HIPAA) compatible blockchain protocol, Nexus.
Graphene is a breakthrough in block propagation technology that requires a fraction of network resources, improving the performance of the blockchain while lowering its costs.
The broader impact of SVH’s research is to decrease healthcare costs by enabling data access through blockchain. Healthcare, globally, suffers from a lack of trust and value, halting the accessibility of beneficial healthcare information. Utilizing their experience in healthcare administration and advanced technology, SVH solved for trust and value, creating an avenue for safe data access.
“This grant is transformative and endorses blockchain as a viable tool to re-engineer healthcare,” said Kat Kuzmeskas, SVH’s CEO.
“We are thrilled to represent the NSF with our blockchain work.”
NSF accepts Phase I proposals in June and December from small businesses with innovative science and technology solutions, and commercial potential. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.