Accelerate South Healthcare Business Services


Accelerate Your Healthcare Business



 

Are you an innovator or entrepreneur in the healthcare sector? If so, you may be looking for a way to bring your business to the next level, right? What you need is acceleration! Louisiana is home to some of the most prominent healthcare giants in the United States. Like you, we are inspired to solve major healthcare related problems. So, we have brought together a network of business entities mentors, economic development leaders, academic leaders and investors through Accelerate South - a federal Economic Development Administration business acceleration program.

Fueling this fall 2018 acceleration program, a newly formed investment group comprised of angel investors as well as healthcare institutional investors such as Lafayette General HealthLHC Group and Acadian Companies will provide chosen startups with access to their networks of people who will serve as mentors to you and your growing team. These healthcare behemoths are willing to open their doors to you and your team. These doors will give you access to the entire 'life-cycle' of healthcare and the 'living lab' that is south Louisiana.
 
 
Ten companies will be accepted into this healthcare accelerator which is located at Louisiana’s two major interstate crossroads. The University of Louisiana at Lafayette, a grant partner, is home to one of the largest pharmaceutical research centers in the US. Office space in the progressive Opportunity Machine will also be provided, at no charge to accelerator teams, 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. Finally, Winrock International, our facilitating grant partner will provide invaluable oversight and guidance to all stakeholders throughout the acceleration program.

 

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 business accelerator program. Each company will receive office space, tailored curricula, networks of highly engaged subject matter expert mentors, professional services as well as 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. Each investors will be committing a minimum of $50,000 to potentially be invested in accelerator team companies. Investment will take place after the accelerator ends.

 

Step 4

Teams go through 3 months of a focused acceleration curricula where their business models are tweaked by industry mentors and subject matter 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/services throughout acceleration.

 

Step 5

Program graduates will have access to further acceleration and investment capital through the healthcare institutional investors, 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 investment-ready, growth-stage healthcare companies with at least two people (team members) in them. Applicants should have a reasonable valuation, fully-baked business model, market traction and need for seed or angel capital. Prepared term sheets are also preferred to streamline the process for investment.

  • When are the program dates?

     

    August 20th to November 16th of 2018 

  • When is the deadline to apply for the program?

     

    The deadline to apply is 11:59 PM CT Sunday July 8, 2018.

  • Where is the program hosted?

     

    The one and only, 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, thriving healthcare ecosystem, Gigabit Fiber, tax-incentives and more attract companies of all sizes to start or relocate here. 

     

  • Who are the investors?

     

    This investment groups are comprised of SEC accredited healthcare entities, businesses and individual 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 even be your next client. :) 

     

  • Is each chosen company guaranteed $50,000?

     

    No. All investments will be negotiated at the end of the accelerator program. Each healthcare institutional investor has committed $50,000 to be invested at the end of the program; however, that does not mean you are garaunteed an investment. Similarly, each angel investor of Accelerate South has committed $20,000 to be invested at the end of the program; however, that does not mean you are guaranteed a capital infusion.

  • 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. If you are already commercialized, great; growth becomes priority. A three-month curriculum based on your business's 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 the "next steps" 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?

     

    Nope. 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 July 15th at the very latest. 

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

     

    Of course! We suggest starting with Reece Theriot, MBA - Executive Director of Accelerate South. Like you, Reece is also an entrepreneur with over 10 years of experience starting, succeeding, failing and learning in the world of startups. Unlike you (maybe), Reece is an instructor of sales and entrepreneurship at the University of Louisiana at Lafayette. Reach out at Theriot@louisiana.edu

Healthcare Innovators what are you waiting for?

South Louisiana is the place to be!

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