Eight startup companies from around the world have been chosen to participate in the HubX-LifeSciences health care business accelerator, a newly announced initiative launched by the Arkansas Regional Innovation Hub.
“We’re delighted and honored to have a cohort of healthcare founders of this quality,” Jeff Stinson, the Director of Entrepreneurship at the Hub said. “The ability to attract technology and talent of this caliber to a first-year accelerator is due in no small part to the access provided by Baptist Health and Arkansas Blue Cross and Blue Shield, each of whom have been tremendous partners in this undertaking. We really can’t wait to get these founders to Arkansas and begin working with them.”
The eight startups selected to participate include:
- Aces Health (Atlanta): The first all-in-one, multi-platform application for clinical trials that keeps patients connected 24/7.
- Admetsys (Boston): Innovative artificial pancreas for hospital and surgical care, leveraging adaptive learning algorithms and counterbalancing treatment of insulin and glucose.
- Callie Solutions (Philadelphia): Communication platform that leads to better patient outcomes by supporting patients and their care team; improved efficiency, reduced accidents; leverages existing data sources to save money.
- Chrona (St. Louis): First mover in noninvasive deep sleep solutions using machine-learning, analytics, and emerging sleep research; delivers restorative and cognitive benefits faster to a U.S. market of 113 million sleep-deprived patients.
- Linehealth (Boston & Portugal): Connected pill dispenser that helps chronic patients adhere to complex Rx treatment regimens.
- Practech (San Francisco & Saudi Arabia): Wearable barcode scanners to converge data through hands-free input, output and process.
- Rubitection (Pittsburgh): Technology developed at Carnegie Mellon University to address limitations of early pressure ulcer assessment with a low cost monitoring tool.
- Vital Metrix (Huntsville, AL): Innovative, patented technology enables sophisticated, non-invasive, essential cardiac monitoring performed in a non-hospital environment.
The companies were selected following a rigorous vetting after months of recruitment. The startups will each receive a seed investment and mentorship assistance during the 13-week period between April-June of 2016. The initial seed investment is worth $50,000 each and each company will qualify for investments at the end of the accelerator.
“We are highly impressed with the quality and depth of the HubX—LifeSciences cohort of companies,” according to president and chief executive officer of Arkansas Blue Cross, Mark White. “These companies are developing next generation solutions to many of the problems our health system and our members face every day. We’re anxious to move forward quickly with these outstanding founders and the HubX team.”
“This is an amazing opportunity for these entrepreneurs that have been selected,” Troy Wells, president and CEO of Baptist Health, said. “It’s exciting to realize that the work we are doing can not only help create a successful company, but also change the way healthcare is delivered.”
HubX-LifeSciences healthcare business accelerator will begin on April 4th. Members from each company will relocate to the Little Rock area for the duration of the accelerator. Spencer Jones of Linegard Med will serve as the Entrepreneur in Residence. The HubX-LifeSciences healthcare business accelerator will operate in the Silver Mine at the Arkansas Regional Innovation Hub in North Little Rock.
Baptist Health and Arkansas Blue Cross and Blue Shield will each provide mentorship to the startup companies as well as strategic partnerships. Other mentors include health care entrepreneurs Nancy Gray, Director, UAMS BioVentures; David DePoyster, CEO, MedSource, Inc.; and Robert Calcaterra, Managing Director, StartUp Partners International LLC. The startup companies will also have access to healthcare investors, PR & marketing mentors and legal mentorship.
The Arkansas Regional Innovation Hub is a nonprofit organization which helps create a collaborative ecosystem which nurtures innovation and entrepreneurial activities in Arkansas using resources, educational opportunities, and various programs.