- September 28, 2017 Webinar – Understanding Medical Device Reimbursement
- June 6, 2017 Webinar – Legal Considerations for Start-ups
- May 11, 2017 Webinar – Fund-raising Insights for Musculoskeletal Start-ups
FREQUENTLY ASKED QUESTIONS
How is AcceLINX different from other incubators/accelerators?
AcceLINX is a multi-stage accelerator. We don’t focus on just one stage of business evolution; we support selected companies whose founders just have a sketch on a napkin all the way to companies with products in the market and early revenues. We also have a concentration in musculoskeletal health. We aren’t trying to be all things to all people. We want to leverage the immense strengths in these fields that can be found here in the region.
Is AcceLINX just for start-ups in the musculoskeletal health field, or could the start-ups be in IT or other fields?
Our primary focus is where we have domain expertise in the region, which is in the areas of musculoskeletal health, primarily orthopedics, spine and biologics. That doesn’t necessarily limit us to physical devices; we’re interested in everything from lab to bedside that contributes to improving patient care and cost effectiveness in musculoskeletal health.
How do I apply to AcceLINX?
See the Apply section of the AcceLINX website. There you will find a link to an email (firstname.lastname@example.org) where you can submit information about your business to our team for consideration. You will be asked a number of questions and given the opportunity to upload your business case or pitch. You can always call us if you would like to speak to someone first.
How long will it take for AcceLINX to make a decision regarding my application?
Our team will contact you within a day or two to confirm receipt of your online application. Our goal will be to let you know within two weeks if we would like to pursue additional discussions to learn more.
Definitive decisions come after our team has had the opportunity to perform the due diligence to review your application. Since companies vary in complexity, it is difficult to pin down exactly how long the entire process will take. But rest assured that industry experts review every opportunity as efficiently as possible. If your application is not accepted, you will receive valuable feedback as to why it was not accepted at this time.
Does the start-up company have to be located in Warsaw? Could they be in other places/states?
Because the core of our resources are in the northern Indiana region and because of the support of the State of Indiana, a number of the companies chosen will be located in this region. We consider start-ups that would be located elsewhere if we believe there is a potential for the company to utilize some of the unique resources in our region.
Where is the physical space located for the start-ups who become partners with AcceLINX?
At this point, we have some limited space for start-up use within the offices of OrthoWorx, the organization that led the development of AcceLINX. However, we are working on obtaining a larger space in the Warsaw area, and there are also commercial properties available that may be suitable. We will work with our partners to find the most appropriate space based on their unique needs.
Is AcceLINX fully operational now?
Right now, we have formally established the team that will be running the accelerator and supporting start-ups through the provision of consulting services on a fee-for-service basis or providing introductions to appropriate external consultants or other service suppliers (eg. Prototype or finished products suppliers). For start-ups desiring capital, we are working with an affiliated team of successful musculoskeletal health industry executives and investment professionals to provide qualified start-ups with access to needed capital to fund growth. We will notify interested parties when the team is in a position to begin making investments.
Does AcceLINX demand a flat-rate equity stake in the start-ups?
No, we decided that it would be more equitable to determine equity levels based on the “earn-in” model, whereby AcceLINX’s equity stake is based on the value of capital and services provided divided by the valuation of the firm. The capital and services are mutually agreed upon between AcceLINX and the start-up, and the equity percentage is not a constant.
Could I just sell my Intellectual Property to AcceLINX and let AcceLINX run the company themselves?
This is a possibility for a very select number of opportunities. A full review of the opportunity would need to be performed by the AcceLINX team.
What role do established orthopedic industry companies play in AcceLINX?
While they are members of OrthoWorx, which led the development of AcceLINX, and they are supportive of this initiative, they will not have a direct role in AcceLINX. It is reasonable to expect that they may be interested in some of the technologies that are developed by AcceLINX-supported start-ups if they fit with their strategic plans.
Will AcceLINX require a board seat in my company if I partner with them?
AcceLINX was set up to add value to start-ups in the industry and having a board seat can ensure that strategic conversations with us are happening on a regular basis. That said, board seats will be requested based on our level of involvement and potential to add value beyond that which is added during day-to-day discussions. The affiliated venture fund may separately request a board seat based on their level of investment and potential to add value. This is the way that most venture funds operate.
Are there time limitations in working with AcceLINX?
No. This isn’t like a 90-day boot camp where you enter on day one and leave on day 90. AcceLINX was founded to support companies all the way through to an exit, which takes an average of seven years in our industry. We can support companies at any stage of their evolution.
Is there a specific program that I have to follow?
No. Every company is faced with its own set of challenges, and the AcceLINX team works with qualified applicants to determine the best path forward.