Scale Up Accelerator
Submission Deadline06/03/2019
Description

The GuideWell Scale Up Accelerator is an 8-week technology accelerator program focused on “Scale Up” technology or medical device companies. We are interested in growing health technology ventures that have the opportunity to solve big problems and reach large markets in the U.S. healthcare industry.

GuideWell Scale Up Accelerator Cohort Company Criteria:

For the Summer 2019 cohort, GuideWell Innovation is partnering with Springboard Enterprises, a nationally recognized accelerator dedicated to technology companies founded by women. Both women-led startups and the southeastern US are lagging in access and closure of venture capital. This cohort is focused on accelerating the growth and financing of companies within this “double jeopardy” demographic.

In collaboration with Springboard, GuideWell will be sourcing a cohort of 5-10 health tech companies with at least one female founder or key executive. GuideWell will consider health/wellness technology companies that address critical gaps in providing affordable, accessible health care or holistic health/wellness solutions for diverse populations and communities in the United States.

Required criteria for Summer 2019 cohort:

  • Company must be a health, wellness or medical device technology company that addresses critical gaps in providing affordable, accessible health care or holistic health/wellness solutions for diverse populations and communities in the United States
  • Life sciences companies are NOT eligible for this cohort
  • Women founders or key executives must own a minimum of 25% of the company’s equity
  • The company must be headquartered and have a minimum of 50% of its staff located in the Southeastern US (FL, GA, AL, MS, LA, NC, SC, TN, KY)
  • Can show proof of “Scale Up” traction through revenues, capital raised, customer acquisition, and product development (see below)
  • Addressing a huge market opportunity in the U.S. healthcare, holistic health or wellness industry

Scale Up Traction:

Eligible companies must meet GuideWell’s minimum “Scale Up” requirements. A Scale Up is a growing technology startup with verifiable traction in its chosen marketplace. Traction may be different based on the company’s chosen market, but is typically demonstrated by one or more of the following:

  • A minimum of $500,000 in revenues
  • A minimum of $500,000 in seed capital raised
  • Patents in place for unique digital innovation or medical devices
  • FDA approval process underway for products requiring FDA approval
  • Verifiable (reference required) customer pilots
  • Accelerating product adoption (especially for consumer-focused solutions)

Key Benefits to Participating Companies:

  • Access to Springboard Enterprise’s national network of over 700 experienced women technology entrepreneurs as mentors
  • Access to regional and national decision makers across both payers and provider customer prospects
  • Curated 3-day boot camp followed by weekly virtual workshops led by national subject matter experts. Workshops focus on challenges in healthcare industry customer acquisition, regulatory compliance and other healthcare specific business topics
  • Opportunity to present to GuideWell’s curated national heath tech investor network
  •  Private 1:1 introductions to customer prospects during GuideWell’s corporate matchmaking event
  • Top performing cohort companies eligible for national Springboard cohort starting in September 2019. Scholarship for participant fees provided to selected cohort winner(s) – max of two winners.

Program Timeline, Costs and Important Dates:

The cohort will run from July 10th through August 30th, 2019. While GuideWell does not take equity or charge program fees, companies selected for the program are responsible for all travel and lodging costs to Orlando for the kickoff boot camp in July and the final matchmaking/investor event in August.

The kickoff boot camp will run from July 10th – 12th, 2019, and will be held at the GuideWell Innovation Center in Orlando, FL. Each day will consist of a blend of workshops/speakers and 1:1 mentoring sessions with experienced health tech entrepreneurs and healthcare executives.

During weeks 2-8, the cohort companies will be matched with various mentors, and are expected to connect with mentors every week. In addition, each week will incorporate a virtual 2-hour workshop/collaboration session led by subject matter experts on key challenge topics faced by most early-stage health tech companies.

The GuideWell Scale Up Accelerator will wrap up with a 2-day showcase event, which will also be held at the GuideWell Innovation Center in Orlando. The first day will be a corporate matchmaking event that will include decision makers from payers, providers and other health technology customers. The second day will be an investor showcase that will include a curated audience of health tech investors. In addition to the cohort companies, the event will also be open to a competitively selected group of health tech companies from across the Southeast.

Key Dates:

  • Jul 10th – 12th : Kickoff boot camp at GuideWell Innovation Center (Orlando)
  • Jul 12th – Aug 28th: Ongoing virtual mentoring sessions, weekly virtual workshops, pitch preparation
  • August 29-30: Corporate matchmaking/investor showcase event (Orlando)
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