XLerateHealth (XLerateHealth.com), a Louisville-based acceleratorfor early-stage healthcare companies, announces that it has been selected by the U.S. Small Business Administration (SBA) as one of the 80 winners of the second annual Growth Accelerator Fund Competition. The recipients represent 39 states, the District of Columbia and Puerto Rico. XLerateHealth was also selected in 2014 as a recipient of the SBA Growth Accelerator Fund, and is one of a handful of accelerators chosen both years. The SBA announced the winners yesterday at theWhite House Demo Day.
Applications were judged by more than 40 experts with entrepreneurial, investment, startup, economic development, capital formation and academic backgrounds from both the public and private sector. The first panel of judges reviewed over 400 applications and presentations and established a pool of 180 highly qualified finalists. The second panel evaluated the finalists’ presentations and pitch videos they prepared and selected the 80 winners, who will receive a cash prize of $50,000 from the SBA. “The entrepreneurial ecosystem in America is incredibly exciting and very powerful,” said Javier Saade, Associate Administrator for Office of Investment and Innovation. “In addition to the financial support, the SBA wants to develop long-term relationships with the startups and constituents in these innovative and entrepreneurial accelerators and their communities.”
Bob Saunders, Chairman of XLerateHealth commented, “We are delighted to receive this recognition from the White House two years in a row and the award will help support our work with our third annual cohort of companies who just began this week. Our seven new XLerateHealth 2015 startupsare an impressive group of young companies who will showcase their businesses at our “Demo Day” on October 29, 2015.
In addition to the SBA, XLerateHealth has received sponsorship support from the Kentucky Cabinet for Economic Development – Office of Commercialization & Innovation, Louisville Metro Government, Mountjoy Chilton Medley, Old National Bank, and ID&A Office and Interior Design. Supporting venture capital sponsors include Kentucky Enterprise Fund/KSTC (Lexington), OCA Ventures (Chicago), TriStar Ventures (Nashville), River Cities Capital (Cincinnati), and Chrysalis Ventures (Louisville). In kind sponsors include Frost Brown Todd and Argi (formerly OPM Financial). XLerateHealth’s partners include Louisville’s Cardiovascular Innovation Institute; Johns Hopkins Health for America; Innovate LTC; The National Space Biomedical Research Institute; and The Nucleus Innovation Center.