InnovateLTC on Wednesday launched a new accelerator program for emerging companies in the 50-plus market.
The ‘Beyond Beta’ immersion program will boost businesses by validating their products, service models, and technologies, says InnovateLTC, part of Louisville, Ky.’s Lifelong Wellness and Aging Care cluster.
Through Beyond Beta, companies operating in the older adult space will have access to “test tracks” in organizations serving that market, including skilled nursing, home health, senior living, pharmacy, health insurers, and consumers.
“These immersions are for those innovative entities that seek to focus on rapid scale and product differentiation by engaging directly with world-class organizations serving the 50+ markets whom share our collaborative vision,” John Reinhart, Founder & CEO of InnovateLTC.
The new program represents phase two of a partnership between InnovateLTC and Signature HealthCARE, a skilled nursing, rehabilitation, and healthcare facilities operator.
Up to 10 applicants will be chosen to receive as much as $100,000 in revenue and services, including coaching and direct feedback to enhance scalability. The accelerator’s goal is to provide real-world venues for emerging companies, allowing them to rapidly immerse their 50+ products into multiple market sectors.
Beyond Beta plans to foster relationships between innovators and potential consumers and purchasers throughout the health care continuum and will leverage all of InnovateLTC’s partnerships within the academic community, health services providers, and collaborative innovative organizations all focused on accelerating solutions to enhance both the quality of care and of life for the global aging population.
“By creating a program with a customer feedback loop, InnovateLTC has developed a program unlike any other to connect the brightest emerging companies with their key markets,” said Alicia Heazlitt, Director of InnovateLTC, in a statement. “We listened to what entrepreneurial companies need execute a successful, scalable solution in the 50+ market.”
The application process to participate in the accelerator program opened on February 17 and will close on April 15. Applications can be submitted here.
Written by Alyssa Gerace