The Venture Center, UAMS’ Bioventures launch healthcare accelerator

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by Talk Business & Politics staff ([email protected]) March 27, 2024 11:14 am 341 views 

UAMS’ BioVentures has launched the ACTIVE Program in partnership with Little Rock-based The Venture Center to give socially and economically disadvantaged innovators (SEDI) in healthcare and technology opportunities to develop businesses.

Interested entrepreneurs are invited to apply at bioventures.tech/active before April 15.

This initiative aims to enhance health outcomes throughout Arkansas, creating an environment for the growth of innovative ideas and entrepreneurs. It aims to position Arkansas as a key center for healthcare solutions, backing early-stage companies with the potential to influence markets both locally and globally.

Funding for the program comes from the Minority Business Development Agency’s Capital Readiness Program, with partnerships including the University of Arkansas at Pine Bluff and Philander Smith College.

“This initiative represents a significant step towards equality and inclusion,” said Dr. Kevin Sexton, principal investigator. “This isn’t merely a financial boost; it’s a clarion call for innovation and inclusivity in Arkansas’ health tech domain. With the Capital Readiness Program’s trust, BioVentures and ACTIVE are embarking on an adventure where the talents of our socially and economically disadvantaged entrepreneurs will be the cornerstone of the next generation of health care solutions in the state.”

The year-long program will accept 25 participants annually, providing concentrated and personalized support. Entrepreneurs will benefit from a range of services to boost business growth and innovation. The program includes:

  • Entrepreneurship bootcamps for essential business skills.
  • Assistance in business setup for a strong foundation.
  • Guidance on funding options, including loans and grants.
  • Networking opportunities with venture capitalists.
  • Personalized mentorship for tailored advice.
  • Legal support in healthcare compliance and intellectual property.

“The Venture Center is excited to offer a skill training bootcamp for this initiative,” said Daniel Schutte, VP of Strategic Partnerships at The Venture Center. “Our goal is to equip promising healthcare innovators with the tools and knowledge they need to scale their businesses and make a lasting impact in the industry.”