Selected for National Institute of Health (NIH) I-RED Award to expand support for academic innovation, translation, and commercialization
LOUISVILLE, Ky.–(BUSINESS WIRE)–XLerateHealth (XLH), a national healthcare accelerator based in Louisville, KY, in partnership with the University of Kentucky (UK) through UK Innovate, has been awarded the first phase of a potential $3.25M multi-year grant by the National Institutes of Health (NIH) through the IDeA Regional Entrepreneurship Development (I-RED) Program (Award Number UT2GM148083). The purpose of the grant is to develop and launch a suite of experience-based entrepreneurship and commercialization training tools to address the needs of academic institutions across the Southeast U.S., including faculty, researchers, innovators and students.
XLH and UK have led this effort since 2018 through the XLerator Network, an NIH-funded partnership to increase the commercialization of promising life science and healthcare innovations in 25 academic institutions across the Southeast Institutional Development Award (IDeA) states of Kentucky, Arkansas, Louisiana, Mississippi, South Carolina, West Virginia and Puerto Rico. This NIH I-RED award will allow XLerator Network participants to build on prior work and develop, launch, test and validate entrepreneurship education and training tools that foster the translation of promising biomedical discoveries and technologies from research laboratories into commercial products.
“Based on our years of experience training biomedical entrepreneurs, we believe that effective entrepreneurial pedagogy is a combination of four elements: 1) informed high-quality educational content, 2) mentorship and coaching from experienced domain experts and entrepreneurs, 3) access to experienced talent to build a cohesive team, and 4) access to capital to fund the successful refinement of the technology/product and its commercial launch into the marketplace,” said Jackie Willmot, CEO of XLerateHealth. “We are proud to continue this collaboration and grateful to the NIH I-RED program for its support in bringing these resources to academic and clinician innovators.”
“Through the XLerator Network, our partnership with more than two-dozen academic institutions in the Southeast IDeA region has created a framework for learning, testing, and applying entrepreneurship and commercialization best practices to advance the most promising health innovations in the region,” said Ian McClure, Associate Vice President for Research, Innovation and Economic Impact at the University of Kentucky. “UK Innovate is thrilled that the NIH I-RED program will now catalyze that foundation and generate new education, mentorship, coaching, and commercialization tools for those partners and the region. As the academic lead institution for this new award, we are proud of this partnership and thank the NIH I-RED program leadership for its support.”
Through the I-RED program, the XLerator Network will build on a solid foundation of online resources and tools developed over the past nine years by XLH, UK, and their other academic partners. The new educational tools and online resources developed via I-RED will add to the Network’s portfolio of entrepreneurial and commercialization products offered to biomedical researchers and innovators interested in bringing promising biomedical technologies from the bench to the marketplace.
About XLerateHealth (XLH)
The XLerateHealth (XLH) mission is to cultivate and grow impactful healthcare innovation in the Midwest, Southeast and other areas of the country where great innovation often goes unrecognized and underfunded. Founded in 2012, XLH supports the development of healthcare innovation through its healthcare accelerator, which helps start-up founders commercialize their business and attract funding. XLerateHealth also leads the efforts to build and operate the XLerator Network, an NIH-funded partnership with Academic Lead University of Kentucky along with 24 other academic institutions in the Southeast. The objective of this work is to increase the commercialization of promising life science and healthcare innovations in the NIH-designated Southeast Institutional Development Award (IDeA) states. www.xleratehealth.com
About UK Innovate
UK Innovate at the University of Kentucky is the innovation, entrepreneurship and economic enterprise for University of Kentucky Research. Through technology commercialization, corporate partnerships, social innovation, innovation training and economic development initiatives related to UK’s research innovations, talent and community, UK Innovate works to move ideas into the world faster, where they can make the greatest social and economic impact possible.