AcceLINX Boosting Ortho Innovators

Posted: Updated:
Conley says AcceLINX leverages the resources in the region to help entrepreneurs and early-stage companies be successful. Conley says AcceLINX leverages the resources in the region to help entrepreneurs and early-stage companies be successful.

The Orthopedic Capital of the World is already unique as home to the highest concentration of resources for the design, development and manufacturing of musculoskeletal products in the world—but local leaders say the region’s approach to innovation is also one-of-a-kind. Orthopedic leaders in northeast Indiana created the business accelerator AcceLINX just one year ago; the organization says its already robust list of 54 clients and innovators is evidence of its powerful and unique position to drive musculoskeletal entrepreneurism.

The Northeast Indiana Regional Partnership says Warsaw/Kosciusko County is five times more innovative than the rest of the state based on patent ratings, but orthopedic leaders realized a need to support, accelerate and channel that spirit of discovery.

“Innovation continues to be the lifeblood of the orthopedic industry,” says Sheryl Conley, AcceLINX

board member and general management. “And we saw a great opportunity to better support it by having a business accelerator that could work with startups—everything from inventors to early-stage companies—to really leverage all the resources in this region and enhance their chance of business success. [AcceLINX] also has connectivity to resources around the world to help.”

AcceLINX says it has worked with eight businesses, including three in Indiana, four out of state and one international company.

“With the out-of-state or international companies, the goal is to get them to use resources here in Indiana, because we have a richer set of resources connected to [the orthopedic] business, whether that’s contract manufacturing, prototype development for regulatory consulting,” says Brad Bishop, executive director of OrthoWorx, the state’s orthopedic initiative. “In addition to the AcceLINX consulting team, we have this incredible array of companies and people who can do the things these startups need done.”

AcceLINX believes its executive team—each member with more than 25 years of experience in his or her area of expertise—is one of its most powerful resources.

“The team has decades of experience and global connections in the orthopedic, medical device and musculoskeletal sectors,” says Bishop. “There really isn’t a single entity like that other than AcceLINX.”

AcceLINX was founded with $3.3 million in funding, led by the Indiana Economic Development Corporation. The accelerator focuses on a fee-for-service model, with only a handful of equity agreements.

“Our vision for 10 years from now is to have measurable portfolio companies that we’ve worked with, and we’d be able to see a certain number of companies that brought some of their physical operations to Indiana,” says Conley. “Ten years from now, our objective would be for AcceLINX to be able to sustain itself and not be based on an economic development model, and that we will have seen some of our portfolio companies actually acquired, even by some of the companies in Indiana, and that our supply chain in Indiana is their primary supplier.”

Nestled within an industry cluster that generates a $5 billion economic impact annually in Indiana, AcceLINX says it will continue to build a nurturing environment for innovators—ensuring the region’s legacy as Orthopedic Capital of the World continues to flourish.

Conley says AcceLINX is the only business accelerator of its kind.
Conley says AcceLINX has a desire for Indiana’s universities to focus more heavily on orthopedic innovations.
  • Perspectives

    • What Makes Up Quality of Place?

      Economic development is a hot topic these days. With the economy continuing to chug along in robust fashion and unemployment approaching historic lows, communities are refining their objectives and priorities to eek every drop of benefit they can from these financially strong times. Nowhere is this focus greater than with “quality of place,” As cities and states think about how they can distinguish themselves from their peers, a common starting point is developing a...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Ball State Approves Room And Board Increase

      Ball State University trustees have approved a 1.6 percent room and board increase for the 2018-2019 academic year. President Geoffrey Mearns says the increase keeps the school's costs competitive while allowing it to provide modern residence halls to attract and retain top students. The average cost to live on campus for the 2017-2018 academic year is $10,032, which the school says is about $500 less than average for peer and ins-state institutions.

    • 'Fresh Energy' Keeps Bloomington Indie Music Label Moving

      After more than 20 years, a Bloomington-based music label is continuing with its mission of showcasing the independent music scene locally and globally. Secretly Group, which includes the Secretly Canadian, Dean Oceans, Jagjaguwar and The Numero Group labels, has worked over the years with artists including Grammy-winner Bon Ivar, Major Lazer, Yoko Ono and Dinosaur Jr. It has grown to include the labels, a distribution business and a presence in New York, Chicago, Austin...

    • The Amazon Effect: How Big is The Economic Impact?

      Jeff Bezos, CEO of Amazon, increased his net worth by $6.44 billion dollars just by saying a few words. He announced the company's earnings on October 26, 2017, and Amazon stock jumped 8 percent. How are you impacted by the Amazon Effect?

    • (Image courtesy of Pat McAfee Show 2.0)

      Pat McAfee Leaves Barstool

      Less than a year after announcing its launch, former Indianapolis Colts punter-turned-media personality Pat McAfee has exited Barstool Sports. McAfee helped launch Indianapolis-based affiliate Barstool Heartland with Barstool Sports founder Dave Portnoy, but said on his own, independent podcast that he's quitting and has not made plans for his next steps. During the first edition of "The Pat McAfee Show 2.0," McAfee said dealing with the business side...

    • St. Vincent Names Manas Regional President

      Julie Manas has been selected to serve as regional president of the St. Vincent North Region, which includes St. Vincent Anderson, Carmel, Fishers, Kokomo, Mercy, Randolph and Williamsport hospitals. She has more than 30 years of healthcare experience and most recently comes from Hospital Sisters Health System, Western Wisconsin Division, where she held the role of president and chief executive officer.