Startup Accelerator Spotlight: XLerateHealth

XLerateHealth seeks dynamic teams of entrepreneurs who are passionate about what they do and are interested in creating disruptive solutions to tough problems in the healthcare ecosystem.

XLerateHealthName: XLerateHealth

Location: Louisville, KY

Offering: XLerateHealth is enterprise-focused and helps early stage healthcare companies build out their commercialization strategies.

Website: www.xleratehealth.com

Co-Founders Interviewed: Bob Saunders, Chariman and Jackie Wilmot, COO

This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.

The accelerator supports the following three types of pre-venture-funded portfolio companies:

  1. Startup Companies
    Very early stage healthcare companies that need more intensive hands-on mentorship and support. They participate in a 13-week intensive accelerator program.
  2. Affiliate Companies
    Participate in a multi-year virtual incubatorXLH which provides mentorship and networking for these Affiliates to support their commercialization and institutional fundraising efforts.
  3. “Corporate Lift Outs”
    Innovative new business opportunities (originating in existing for-profit and not- for-profit corporate entities) that can benefit from being treated in the same way that a start-up business is treated.

The XLerateHealth accelerator program is grounded in Steve Blank’s Lean LaunchPad curriculum. This requires entrepreneurs to “get out of the building” and talk to potential users, buyers, and partners for feedback on their business model. Startups use this customer development process to test hypotheses and continuously iterate their business model. Startups present their customer development progress on a weekly basis.

XLerateHealth also provides their portfolio companies with intense mentorship that is tailored to each startup’s particular business issues. Mentors within their national expert network provide guidance on both healthcare and startup specific issues including:

THE HEALTHCARE SYSTEM
  • Understanding Healthcare Demographics
  • Designing the Ideal Healthcare Experience
  • Big Data Opportunities in Healthcare IT
  • Changing the Payer Risk Environment
  • Inside Accountable Care Organizations
  • Reimbursement Strategy
  • Implications of The Affordable Care Act
LEGAL & COMPLIANCE
  • Intellectual Property Strategy
  • Liability and Litigation
  • All About HIPAA
  • FDA Approval Process and Strategy
  • Open Standards / Open Data

Five Documents Required for Organizing a Business

STARTUP LESSONS
  • Identifying Pain Points
  • Patient Experience Design
  • Mobile and Social Engagement
  • Pitching Investors
  • Obtaining Funding
  • Consumer Engagement
  • Personnel Recruiting and Retention Strategies

Companies Sought
 XLerateHealth seeks dynamic teams of entrepreneurs who are passionate about what they do and are interested in creating disruptive solutions to tough problems in the healthcare ecosystem. They prefer teams that include founders with technical ability, a knowledge of the healthcare industry, and who are intent on succeeding as scaleable commercial enterprises.

How to Clarify Your Startup’s Vision

Application Process / Requirements
XLerateHealth accepts applications between March 1 and May 31. After an initial review of all applications, they will contact select companies to participate in a web conference. Their review period will continue throughout May, and they begin notifying selected companies in June.

What Selected Teams Receive:

  • Support from XLerateHealth’s Mentor network, as well as introductions and meetings with pilot customers, potential funders and potential acquirers.
  • Free office space in the heart of Louisville’s downtown within walking distance to the NuLu district’s bars, coffee shops, restaurants and meeting/co-working spaces.
  • Opportunity to apply for a KSTC-funded stipend of $20,000.

XLerateHealth’s Third and Most Recent Cohort of Startups Include:

iClinical (San Francisco, CA) provides a real-time data aggregation and analytics platform for clinical trials. The real-time trial insights and built-in collaboration tools allow faster issue resolution and decision-making so that life-saving drugs get to the market sooner and at a lower cost.

iPillBox (Louisville, KY) is a mobile pill organizer that streamlines complicated medication schedules for patients and allows caregivers and physicians to monitor compliance securely. iPillBox enables providers to access real-time data through a secure web-application so they can proactively manage medication compliance issues.

Inscope Medical Solutions (Louisville, KY) has developed a Wi-Fi enabled multi-purpose, disposable laryngoscope that optimizes airway intubation by integrating several devices into one easy-to-use device. This innovative technology addresses a $1.2B laryngoscope market and will improve this high-risk procedure’s speed, effectiveness and safety.

MedUX (Toronto, Canada) revolutionizes surgical workflow by bringing the surgeon direct, tactile control over digital case data while in the operating room’s sterile field. For the first time, surgeons can easily access the data they need, where they need it most.

NormaLyte (Louisville, KY) is a clinically proven oral rehydration salt product specifically created by pharmacists to quickly and effectively treat dehydration without the salty taste of competitors’ products (e.g. Pedialyte). The proprietary formula is based on the World Health Organization’s recommended formula, which has undergone extensive evaluation and testing by the scientific community.

SYSGenomics (Granger, IN) provides molecular diagnostic tests to enable cancer patients and their oncologists to select the most effective treatment strategy. SYSGenomics takes the guesswork out of cancer treatment.

Trajectory Healthcare (Loveland, OH) is a population health analytics solutions company that helps evaluate, improve and design population health management programs. Using its patented analytics engine and easy-to-use software, Trajectory transforms how customers see and manage their population health data, helping them make better clinical and financial decisions.

In search of an accelerator that aligns with your startup’s needs? Try TurboFunder’s Find My Accelerator search tool!

Are you familiar with other accelerators you believe should be highlighted?  If so, we would like to hear from you.  Tell us about them in the comments below!


Tony Lettich

Tony Lettich has previous Business Analysis, Business Valuation, M&A, and Venture Capital experience and currently serves as the Managing Director of The Angel Roundtable and a Partner in Sheehan, Lettich M&A Advisory. He is also a co-founder of FundingSage, which provides valuable information, tools and resources to entrepreneurs seeking to launch and build startups.