Last Year, Twelve Weeks, Five Percent discussed on


Have over ninety companies. Now were excellent. Health portfolio that have raised over one hundred million dollars and I would say that the perfect stage of companies that can to as our pre revenue with close to two pilot and after this twelve week would come many of them find the right path than the way to jump to the market and to start delivering it and sell it to potential customers where was accelerating health founded and headed flint trump to your attention of energy joined up so At health was founded by by. Jackie wilmot And bob sanders. They are currently based in louisville kentucky. Mm jack has a long experience on the parasite and bob has long experience on the venture capital site We focus in healthcare and they came together to start this exploration program in louisville la villa while there is a inter interesting concentration of Healthcare companies in that area of kentucky and later on the day they got engaged with We got engaged with a diplomatic pharmaceuticals and d'amato foundation and other players in flint An time they were trying to come up with a new Healthcare hub and That's where we came up. They invited us to run this innovation program and to start an ecosystem. Meant to build up Wrong the healthcare and again You were telling me before we started. Why flint because i questioned. She didn't seem like flint doesn't immediately come to mind when i think of healthcare but apparently i'm wrong right yes well but but that's always a great question and there are several reasons Dead explains flint so First of all there's a very welcoming community that embraces interpreters in startups and eco system has multiple resources We find three universities and for health systems in this region we the doors open to meet with enters their products to conduct studies or even pilot. That's the experience that we are having here since two thousand eighteen and for example the university of michigan war early medical center or or even michigan health Active actively engaged with started during the boot camp and Besides these These take colder. Is that it is very important for startups Date they can also find the encounter large community of ngo investors That are local or nationwide and venture capital firms and for example. We bartering with investigatory. The word the michigan by medical venture fund or by star capital or a skype one ventures and all of them are willing to see Enterpreneurs during the bootcamp to provide guidance in shared best practices to raise capital and to achieve the right people that can help them and because the smart cash for them or so. What sort of applicants. So you're looking for companies in the healthcare universe. We we are industry agnostic that we work with digital health medical devices therapeutics diagnostics healthcare services companies and solutions solutions for payers. But to be more precise look for early stage companies and enterpreneurs working in solutions that solve painting in healthcare marketplace and the ideal candidate must have Committed team or founded funded that. He's committed to move forward with the company and product. I would said must be ready pilot or near that stage and once we are in flint. We look to engage with health preneurs in this area and genesee county. And so what does it take. Were saying what it takes to qualify. What do you get. When you join the cohort. They have to pay it all free. How does it work now. We take them. They don't have to pay a. We take a very small equity stake of the company's two point five percent. They can see on our website and what they will have during this twelve week with camp. it's It's the access to to work with all the coaches and mentors and and they can meet with subject matters of critical areas of healthcare including fda regulatory fasten like Property were a product design among owners and during this twelve week. boot camp We tackle different topics. They must let's Redefine their product or service Come up we help them coming up with a with a value proposition. That is Connecting with with the with the customers on the other side and then data willing to pay for it the first years of the flint program beyond any particular success stories. you'd like to share any particular clients. i guess i think that's when when we start talking about the exciting exciting parts and we see companies making good progress on top of my head. I can mention into bec- who recently won the prestigious health longevity challenge award from the national academy of medicine and is piloting local hospitals Another company completed the study. A early medical onto another one is is demoing with a hospital clinic now. The age of covid where everyone's doing virtual i assume that you're you're accelerator requires in presence or is that done virtually as well. It's virtually actually during during covid go last year we decided to move everything to covert to make sure that no one Or to ensure that everyone is safe. And that was one of the challenge that we had last year A to a new platform where people can work together in virtual way. So does that mean then. You can attract a much wider field of candidates because i mean if you have to be an accelerator for twelve weeks and flint. One would think you'd have to be influenced or does this mean now that you can say work with the folks out of the grand rapids or traverse city or all.

Coming up next