XLerateHealth is enterprise-focused and helps early stage healthcare companies build out their commercialization strategy, which includes their intersection with Payers, Providers (hospitals, ACOs, nursing homes, home health and group practices), and customers (employers and/or consumers). XLerateHealth supports the following three types of pre-venture-funded portfolio companies:
- Startup companies are very early stage healthcare companies that need more intensive hands-on mentorship and support. They participate in a 13-week intensive accelerator program in XLH’s 3,500- square foot space located in the Nucleus building in Louisville’s downtown Medical Development Research Park. XLH helps these early stage startup companies prepare their product/service for commercialization and connects them with beta site partners in the healthcare eco-system so that the startup companies obtain real-time “customer discovery” feedback from actual potential customers.
- Affiliate companies participate in a multi-year virtual incubator (similar to the model pursued by Startup Health in New York). XLH’s portfolio of 27 affiliate companies have already made substantial progress in raising capital, building a customer base, and/or generating revenue. XLH provides mentorship and networking for these Affiliates to support their commercialization and institutional fundraising efforts. In addition, the Affiliate companies often provide mentorship to the startup companies participating in the accelerator’s 13-week on-site program.
- “Corporate Lift Outs” are innovative new business opportunities (originating in existing for-profit and not- for-profit corporate entities) that can benefit from being treated in the same way that a start-up business does. XLH works with Lift Out projects (on an intersession basis) through the course of a year to help these potential business opportunities become commercially viable enterprises – utilizing the same lean startup methodology that we use with our startup companies.
Supporting XLerateHealth is a world-class group of mentors from around the United States. The Mentors provide guidance and counsel to XLerateHealth’s portfolio companies, drawing from their depth of domain experience in the healthcare and business creation. Mentorship can range from providing a single phone call for advice and counsel to a much more intensive interaction depending on the needs of the company and the time commitment of the individual mentor. Startup companies typically have two to five Mentors with whom they engage on various aspects of their business. Mentors in the accelerator have extensive experience in various aspects of the healthcare ecosystem and/or various aspects of early stage new venture creation.
At the conclusion of each cohort, XLerateHealth holds a showcase for its portfolio companies where strategic partners, venture capitalists, and sophisticated investors will hear company presentations for potential investment opportunities.