Accelerate South Healthcare Business Services


Accelerate Your Healthcare Business



 

Louisiana is home to some of the largest and most prominent healthcare giants in the United States. Inspired to find companies that can solve major healthcare related problems, a network of businesses, mentors, economic development leaders, academic leaders and investors have come together though Accelerate South, a federal Economic Development Administration grant program.

Fueling this summer 2018 acceleration program, a newly formed Louisiana Healthcare Investment Group comprised of Angel and large institutional investors including LHC Group and Acadian Companies, will provide a capital investment of up to $50,000 per chosen team. In addition, the cohort compromised of up to ten companies will receive free housing through the University of Louisiana, Lafayette (UL), a grant partner in the initiative. Located at Louisiana’s two major interstate crossroads, UL is home to one of the largest pharmaceutical research centers in the US. Free office space in the progressive Opportunity Machine will also be provided by grant partner Lafayette Economic Development Authority. Competitive state incentives programs through Louisiana Economic Development are also fair game for companies in the program that meet requirements.

 

The time is right to solve major healthcare challenges in America. Louisiana is a Living Lab open to entrepreneurs ready to solve these critical needs. If you’re up for the challenge, we invite you to learn more or apply now for Accelerate South.

 

How Accelerate South Works

HOW IT WORKS

Up to ten companies will be chosen for Accelerate South, a healthcare focused accelerator program. Each company will receive initial capital exchange for equity, housing and office space, tailored mentors, and professional services, plus open-door access to our many “living labs” to test their products or services.



 

Step 1

A company applies HERE to our accelerator. We are looking for businesses with strong founders, industry traction, intellectual property or trade secrets, strong marketing potential, and exit strategies

 

Step 2

A team of investors and grant partners vet the applications and choose potential finalists. Founders are then called for initial interviews. If there seems to be a fit in our ecosystem, we will ask each business to pitch their ideas to our vetting team in person or via skype.

 

Step 3

The vetting team will invite up to ten companies to commit to our accelerator. Valuations and other details are negotiated, term sheets signed, and initial investment checks are sent. Investors may choose to invest up to $50,000 up front or trance the investment as we get to know one another better during the acceleration process.

 

Step 4

Teams go through 3 months of a focused acceleration curricula where their business models are tweaked by industry mentors and experts. A few public and private pitches will be part of the curricula. If businesses are a good fit for our healthcare partners, they will be allowed varying degrees of access to test their products in “living labs” during acceleration.

 

Step 5

Program graduates will have access to further acceleration and investment capital through the Acadiana Angels network, and other regional investors.

LIVING LABS

  • Acadian Companies

    Acadian Ambulance Service was founded in 1971 and has since earned a reputation as the nation’s largest and most respected privately held medical transportation company. Our growth, diversity and commitment to excellence have garnered us international acclaim and recognition by the U.S. Senate, Microsoft founder and author Bill Gates, Inc. Magazine, and the Smithsonian Institution.

  • LHC Group

    LHC Group is the preferred post-acute care partner for hospitals, physicians and families nationwide. From home health and hospice care to long-term acute care and community-based services, we deliver high-quality, cost-effective care that empowers patients to manage their health at home.

  • New Iberia Research Center (NIRC)

    The New Iberia Research Center (NIRC) is a biomedical research facility of the University of Louisiana at Lafayette and is the US’s largest primate research facility. For over 30 years, NIRC has been a preferred partner of university, government, pharmaceutical, and biotech institutions for the development and characterization of nonhuman primate models of human diseases for applied and basic research aimed at promoting human quality of life.

  • Schumacher Clinical Partners

    More than 20 years ago, our founder, Kip Schumacher, built this company with a mission to do things better and make a positive difference in Emergency Medicine. Today, we’ve grown to become one of the largest healthcare resources in the country for hospitals and healthcare providers, incorporating more partners along the way to grow our expertise and delivering more opportunities for providers like you.

FAQ

  • What kind of companies are you looking for?

    We are looking for investable, growth stage healthcare companies with at least 2 people in them. Applicants should have a reasonable valuation, good business model, market traction, plan for exponential growth, and need for seed or angel capital. Prepared term sheets are also preferred to streamline the process for investment.

  • When are the program dates?

    May 14th to August 3rd

  • When is the deadline to apply for the program?

    The deadline to apply is 11:59 PM CT Sunday April 15, 2018.

  • Where is the program hosted?

    Your provided housing and office space will be in Lafayette, LA. Honored as the Happiest City in America by the Wall Street Journal's MarketWatch.com, Lafayette is the heart of Louisiana's tasty Cajun & Creole culture. Our way of life, ready workforce, healthy entrepreneurial business climate, Gigabit Fiber, tax-incentives and more attract companies of all sizes to start or relocate here.


  • Who is the Louisiana Health Care Investment Group?

    LaHIG is comprised of SEC accredited businesses and investors. Besides investing, each member has pledged to share their business wisdom from decades of experience. Some of the corporate investors are first and second generational entrepreneurs that started small and now have thousands of employees with over a billion dollars in annual revenue. You will meet them, their teams, and their network. Some may be your next client.


  • Is each chosen company guaranteed $50,000?

    No. An initial investment up to that amount will be negotiated prior to the accelerator. The actual initial investment in exchange for equity will negotiated between your company and the Louisiana Healthcare Investment Group (LaHIG). By the end of the summer program, a second tranche of capital may be exchanged which could be more than $50,000 total for certain companies but is not guaranteed.

  • How many companies are chosen?

    We are targeting up to 10 companies for acceleration.

  • What can I expect to happen during the three months if chosen?

    Commercialization of your products/services is paramount for Accelerate South. A three-month curriculum based on common needs will be finalized once the cohort is chosen. Additionally, since each entity has a unique pathway to success, a team of experts will map an exclusive journey for each company, assuring the highest value of time during our program.

  • Do applicants need to be in Lafayette every day of the program?

    No. We realize that moving away for three months is challenging even if you are from other places in Louisiana. Reasonable time away from Lafayette during the program is understood. Certain events and learning opportunities however will require attendance from all chosen companies. We expect that your main focus during these three months will be spent growing your company, learning from our mentors and working to gain contracts with Louisiana businesses aligned with your value proposition.

  • Do you require chosen companies to stay in Louisiana after the accelerator?

    No. Our hope of course is that you will find fertile ground to grow in our backyard or at least have a business presence in one of our Louisiana cities, but business growth may be wiser somewhere else. That’s cool with us, we will be proud to say we have been a part of your journey!


  • When will applicants be notified of acceptance to the program?
    The week of April 23rd at the latest. 

     

  • Is there someone I can call to talk about the program before applying?

    Of course! We suggest starting with Pete Prados, director of INNOV8 Acadiana and Accelerate South. Email first to find a time to talk. pete@innov8acadiana.org.

Healthcare Innovators what are you waiting for?

South Louisiana is the place to be!

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