Southeast XLerator Network I-RED Program
ATTENTION: University-based Faculty, Researchers, Clinician Faculty, and Students!
QUALIFYING REGION: NIH SE IDeA States (KY, WV, SC, AR, LA, MS, and Puerto Rico)
Up to $25k of Funding Available to support commercialization efforts
APPLICATION DEADLINE: Monday March 4, 2024 (Midnight ET)
As part of the Southeast IDeA Regional Entrepreneurship Development (I-RED) Program funded by the National Institute’s of Health, the XLerator Network has developed and launched a suite of experience-based entrepreneurship educational modules, products, and tools that will be that will be available through the I-RED Commercialization Program. The aim of the I-RED Program is to build university based biomedical researchers’ and students’ entrepreneurial skills needed to translate scientific discoveries and innovative technologies into commercial products and shorten the time it takes to get these technologies from bench to market.
We are looking for academic based innovators in the Southeast IDeA State region (Kentucky, West Virginia, Arkansas, South Carolina, Mississippi, Louisiana, and Puerto Rico) to participate in the I-RED program, and will be issuing a highly competitive Request for Applications for the 2nd I-RED cohort this fall.
If you are interested in participating in the 2nd I-RED cohort, please express your interest but clicking the orange button below and filling out a short form. We look forward to hearing from you!
We are currently seeking applications from faculty, academic investigators, clinicians (with university faculty appointments), and students — who: (1) are close to or ready to translate their human health related technologies into commercial products (e.g., medical devices, diagnostics, therapeutics, digital health, and tech-enabled healthcare services) or (2) are thinking about or have already created a company and are looking for commercialization, customer development, and funding support.
Is there Funding?
Successful applicants will receive funding that aligns with their commercialization targets and milestones (see examples below).
APPLICATION DEADLINE: Monday March 4, 2024
Questions? Please email us at: [email protected]
Commercialization Milestone Based Funding
Successful applicants will receive funding that aligns with their ability to achieve commercialization targets and milestones. See some examples of milestones below:
• Create a Business Model Canvas or a Lean Canvas and engage in customer discovery to validate your business model
• Create a customer discovery question set, a customer discovery target list, and a draft email introduction
• Complete 25 quality customer discovery interviews
• Attend a conference to engage in customer discovery
• Size the market
• Complete a competitor analysis and grid
• Complete a customer ROI analysis
• Define the unit economics related to your technology and associated revenue model (which includes pricing)
• Draft a 5-year pro-forma
• Complete an investor pitch deck
• Complete a competitor analysis
• Pitch at an external entrepreneurial “Pitch Competition”
• SBIR application submitted
• Define and validate your regulatory and/or reimbursement pathway
• Create a profile on GUST, create an investor tear sheet, create a one pager that can be used for customer discovery