LEXINGTON, Ky. — XLerateHealth, a health care technology accelerator, has received a $500,000 grant to create a biomedical technology hub to accelerate the commercialization of innovation.
The grant by the National Institute of General Medical Sciences, a division of the National Institutes of Health, could total $3.5 million over three years.
XLerateHealth has joined with a consortium of 24 academic institutions, led by the University of Kentucky, in partnership with the University of Louisville and West Virginia University, on the project .
“This grant provides a unique opportunity to leverage XLerateHealth’s substantial experience working with researchers and startup founders to take a health care innovation to market,” said Jackie Willmot, co-founder and CEO of XLerateHealth, in a statement. “We are excited about partnering with the University of Kentucky, the University of Louisville and West Virginia University, as well as the other institutions throughout the Southeast Region to move research from lab to market.”
This new grant will create an accelerator hub for biomedical technologies in the Southeast Institutional Development Award region, which includes Kentucky, Arkansas, Louisiana, Mississippi, Puerto Rico, South Carolina and West Virginia.
The hub will be one of four NIGMS-funded hubs to help IDeA states accelerate early-stage biomedical technology from the laboratory to market. The goal is to enhance the capacity to move scientific results from academic institutions into commercialization and to promote a sustainable culture of biomedical entrepreneurship within IDeA states.
The grant will fund creation of an online virtual hub, through which XLerateHealth, UK, UofL and WVU can connect and share educational curriculum, resources and commercialization tools for utilization across the network of participating institutions. There will also be a focused intellectual property and technology transfer support services component for regional and Historically Black Colleges & Universities to assist where those services are not currently available.
“We look forward to seeing the impact this cutting-edge program will have in advancing opportunities for commercialization, information sharing, and the creation of life-changing products to benefit society,” said Kentucky Governor Matt Bevin, in a statement.