The Fast Forward Medical Innovation fastPACE program will offer new opportunities and resources to healthcare entrepreneurs as part of XLerateHealth’s work to develop the region’s innovation ecosystem
Flint, MI – XLerateHealth (XLH), a Louisville, KY-based healthcare startup accelerator, announced today a partnership with The University of Michigan to bring the Fast Forward Medical Innovation’s (FFMI) fastPACE biomedical entrepreneur program to XLH Flint. FFMI fastPACE is a proven 4-week biomedical innovation and commercialization project-based course designed for life science innovators with an early stage project. More than 250 project teams and 500 team members have graduated the fastPACE course and used their experience to secure upwards of $20 million in follow-on funding.
XLH launched its Flint accelerator in 2019 as part of its mission to cultivate impactful healthcare innovation in areas of the country where great innovation often goes unrecognized and underfunded. Six diverse healthcare and life sciences startups completed the 12-week bootcamp program in the inaugural year. Bringing the fastPACE program to the Flint/Genesee ecosystem will help stimulate the local innovation economy, and serve as a primer to help healthcare entrepreneurs prepare for the XLH Flint Accelerator cohort set to kick off in the summer of 2020.
“We are thrilled to partner with one of the most prestigious research institutions in the country to offer a new program for our entrepreneur community in Flint,” said Jackie Willmot, CEO of XLH. “As we head into our second year in Flint, Michigan, this program will open new doors for innovators looking to explore the commercial viability of a product and develop a successful business case for funding. The fastPACE program is another step forward to help stimulate and support healthcare innovation in the region.”
The fastPACE course features an expert teaching team from academia and industry, and blends in-person and online education to help participants prepare a successful business case for funding and development partnerships. Project teams are divided into educational tracks and assigned a teaching team member to capitalize on their unique experience and maximize mentorship opportunities. Results of the first fastPACE course were published in the Journal of Academic Medicine.
We have seen great success with fastPACE across the state and are eager to bring the program to the Flint/Genesee region,” said Jon Servoss, Director of Commercialization Education for Fast Forward Medical Innovation. “Our goal is to accelerate the development of the next generation of devices, therapeutics, diagnostics, digital health, and innovators. Our program is tailored to clinicians, researchers and healthcare workers who have great ideas but may not know how to take the next step towards commercialization.”
The course is open to life sciences and healthcare entrepreneurs in the region who have an idea to improve patient outcomes or enhance operational efficiencies in the healthcare system. Clinicians and healthcare professionals (physicians, nurses, therapists, etc.), researchers, students, and postdocs are encouraged to apply. 15 projects per cohort are typically accepted.
Interested individuals should apply to fastPACE here: Applications for Winter 2020 are open and the course will kickoff on February 13th at the Ferris Wheel Building in Flint.
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, an NIH-funded partnership with 24 academic institutions to support the commercialization of promising life science and healthcare innovation in the Southeast Institutional Development Award (IDeA) states.
XLH has evolved to become one of the longest standing healthcare accelerator programs in the U.S. In 2019, the accelerator program expanded to Flint, Michigan. Find out more about XLH by visiting www.xleratehealth.com and visiting Facebook, LinkedIn and Twitter @XlerateHealth.
About The University of Michigan FFMI
Established in 2014, Fast Forward Medical Innovation (FFMI) offers resources and support to world-class biomedical researchers at the University of Michigan and across the state of Michigan. Our groundbreaking funding programs, dynamic educational offerings, and deep industry connections help biomedical researchers navigate the road to successful innovation and commercialization, with the ultimate goal of positively impacting human health. LEARN MORE from our Managing Director about the University of Michigan’s visionary integrated approach to biomedical innovation.