LOUISVILLE, Ky.--(BUSINESS WIRE)--
Grants total over $1.7M for 2nd Year of XLerator Network; Funds will support academic healthcare innovation across the Southeast
XLerateHealth (XLH) is pleased to announce that it was awarded Phase II funding of $1.48M, plus an Administrative Supplement of $250,000, from the National Institutes of Health (NIH) to continue building the XLerator Network, one of four Institutional Development Award (IDeA) State region “hubs” supported by the Small Business Technology Transfer (STTR) program. The STTR program funds research and development partnerships between small businesses and academic institutions.
The grant, managed by the National Institutes of General Medical Sciences (NIGMS), is a part of funding expected to total more than $3.6M for XLH and its partners through 2021. XLH’s partners on this grant include 24 Academic Institutions with the University of Kentucky serving as the Academic Lead.
The Administrative Supplement of $250,000 will fund creation of the “Ideas to Products” (I2P) program, which will support faculty, students and researchers in the XLerator Network with competitive funding that will help them ready their technologies for commercialization.
Established by Congressional mandate in 1993, the IDeA program’s goal is to broaden the geographic distribution of NIH funding and to help accelerate early-stage biomedical technology from the laboratory to market, with an emphasis on supporting geographically underserved areas in healthcare. The XLerator Network supports the Southeast IDeA State region, which includes Kentucky, Arkansas, Mississippi, Louisiana, South Carolina, West Virginia, and Puerto Rico.
“We are honored and grateful to receive a continuation of funds from NIGMS to support our efforts in developing academic innovation within areas of the country that are historically underserved,” says Jackie Willmot, CEO & Co-founder of XLH. “These resources will have a significant impact on our ability to realize the potential of promising healthcare innovation across the Southeast.”
The continuation of the grant secures a second year of funding for XLH and its partners to build on foundational assessment and planning work completed in year one. Phase II funds will be allocated to building the architecture and functionality of various tools, curricula and resources, including an assessment tool that will provide a personalized roadmap for researchers, faculty and students to learn how to take their innovations from lab to market.
In support of this continued work, XLH also launched a Scientific Advisory Committee and External Advisory Committee consisting of leaders across the healthcare ecosystem nationally, from pharmaceutical and medical device companies to investors, academia, and serial entrepreneurs. The committees will provide hands-on support for companies developing out of affiliated Southeastern IDeA universities.
Founded in 2013, XLerateHealth (XLH) exists 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. XLH supports the development of healthcare innovation through the XLH Accelerator, an early-stage healthcare accelerator that helps start-ups commercialize their business and attract funding, and the XLerator Network, a partnership with 24 academic institutions to support R&D development in the NIH’s Southeast Institutional Development Award (IDeA) states.
XLH has evolved to become one of longest standing healthcare accelerator programs in the US. In January of 2019, the accelerator program expanded to Flint, Michigan.
Find out more about XLH by visiting www.xleratehealth.com. XLH is on Facebook, LinkedIn and Twitter @XlerateHealth.