Northern Kentucky University has announced the inaugural cohort for its newly launched health innovation accelerator.
Five startups have joined SoCap Accelerate, a six-week program aimed at helping companies grow and scale their businesses. The program kicked off this week.
Led by NKU’s Institute for Health Innovation, the accelerator, first announced this summer, aims to “help the region solve health problems creatively.” Participants will be mentored on developing customers and building a product as well as marketing, legal and accounting guidance.
The program does not offer funding or equity but is designed to help companies grow and consider the region as a destination. Health care is the third-largest regional industry in Northern Kentucky, officials said.
"Health innovation is critical,” Dr. Valerie Hardcastle, IHI executive director and vice president for health innovation, said in a release. “Our students and community members have forward-looking ideas to various everyday problems. SoCap Accelerate can help them reach their goals.”
The fall 2020 cohort companies include:
- PopBase (Burbank, Cali.): An online learning platform focused on health education for children.
- Kare Mobile (Louisville): A mobile van providing a range of dental services. Kare Mobile, based in Louisville, is the latest minority-led startup to join Cincinnati-based Lightship Capital’s growing portfolio. Lightship led an undisclosed round for Kare that was announced this week
- STRE.ME (Fort Wayne, Ind.): An online software delivery platform aiming to improve patient satisfaction, outcomes and hospital profitability
- EMDR VR (Cincinnati): A virtual reality therapy vehicle that provides EMD VR therapy at scale to provider practices and individuals without access. EMD RV is a new therapy used with a virtual reality headset to treat post-traumatic stress syndrome and anxiety disorders
- Xen Mystic Pillow (Dover, N.J.): A baseline orthopedic cushion product that provides neck support with an adjustable surround system
The cohort will work out of NKU's recently unveiled Collaborative for Economic Engagement, a “one-stop innovation hub” within Covington's Innovation Alley, at 112 W. Pike St. Having a spot in Innovation Alley will “help these startups flourish and create positive change," Rico Grant, managing director of SoCap Accelerate, said.
SoCap was designed as an alternative to traditional four- or five-month startup accelerators. The cohort’s demo day is Nov. 19.
SoCap Accelerate is sponsored by a Department of Commerce Economic Development Administration i6 grant, along with support from St. Elizabeth Healthcare, the Durr Foundation and the Greater Cincinnati Foundation. The six-week program also provides legal guidance from Frost Brown Todd, accounting assistance by Rudler, digital presence support by Canned Spinach and crowd investing support through Wunderfund.
