BioVentures, the biomedical technology startup incubator at the University of Arkansas for Medical Sciences in Little Rock, has launched the ACTIVE program in partnership with the Venture Center to benefit socially and economically disadvantaged innovators (SEDI) in health care and technology with an emphasis on diversity and inclusion.
Interested entrepreneurs are invited to apply here before April 15.
This initiative aims to enhance health outcomes throughout Arkansas and create a supportive environment for the growth of innovative ideas and entrepreneurs. It seeks to position Arkansas as a key center for health care solutions, backing early-stage companies with the potential to influence markets both locally and globally. Funding for the program comes from the Minority Business Development Agency’s Capital Readiness Program with the University of Arkansas at Pine Bluff and Little Rock’s Philander Smith University as partners.
“This initiative represents a significant step towards equality and inclusion,” said Dr. Kevin Sexton of UAMS. “This isn’t merely a financial boost; it’s a clarion call for innovation and inclusivity in Arkansas’ health tech domain. With the Capital Readiness Program’s trust, BioVentures and ACTIVE are embarking on an adventure where the talents of our socially and economically disadvantaged entrepreneurs will be the cornerstone of the next generation of health care solutions in the state.”
This year-long program accepts 25 participants annually, providing concentrated and personalized support. Entrepreneurs will benefit from a range of services to boost business growth and innovation. The program includes:
- Entrepreneurship boot camps for essential business skills.
- Assistance in business setup for a strong foundation.
- Guidance on funding options, including loans and grants.
- Networking opportunities with venture capitalists.
- Personalized mentorship for tailored advice.
- Legal support in healthcare compliance and intellectual property.
“The Venture Center is excited to offer a skill training boot camp for this initiative,” said Daniel Schutte, vice president of strategic partnerships at the Venture Center, the Little Rock entrepreneurial support organization. “Our goal is to equip promising healthcare innovators with the tools and knowledge they need to scale their businesses and make a lasting impact in the industry.”
The ACTIVE program seeks entrepreneurs from socially and economically disadvantaged backgrounds with innovative, early-stage healthcare and health technology ventures. Ideal candidates are dedicated to creating a significant impact in health care and developing scalable solutions, and applicants must complete an online form detailing their business concept, team background and how their solution brings innovation to health care, according to a press release.
The ACTIVE program was created to address underrepresentation and unrealized potential of SEDI entrepreneurs in the health tech sector. The program’ application deadline is April 15. Interested entrepreneurs can apply at BioVentures.tech/active.
