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

    • Richardson is a practice lead with Centric Consulting.

      How to Create Consistent and Positive Customer Experiences with Your Brand

      Everyone knows that keeping the consumer happy is the first priority. The importance of considering the customer’s experience in all areas of engaging with your business, not just customer service is becoming even more clear. I’m seeing an increasing number of my peers in the marketing world take ownership of the customer experience with their brands. As a result, we’re all learning how to borrow and...

    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

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Updates Layoff Notice to State

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has updated the State of Indiana regarding its previously announced layoffs at the East Chicago Tin Mill. The company says 314, rather than 307, workers will be displaced when the mill is idled this fall. 

    • Red Star announced plans to expand and add 18 jobs.

      Larwill Medical Device Maker to Expand, Add Jobs

      A Whitley County-based medical device maker has announced plans to expand its facility in Larwill which should mean new jobs. Red Star Contract Manufacturing Inc. says it will invest $1.6 million in real estate improvements and additional equipment and will create 18 new jobs by 2022. 

    • Regal Beloit is closing in Valparaiso. (photo courtesy; The Times of Northwest Indiana)

      Valpo Bearings Plant to Close, Eliminating 160+ Jobs

      Wisconsin-based Regal Beloit Corp. and the union representing workers have reached an agreement about the closing of a helicopter bearing factory in Valparaiso. According to our partners at The Times of Northwest Indiana, the decision will cost between 160 to 170 workers their jobs. 

    • (WISH-TV Photo)

      Clif Bar Expands Indy Bakery

      California-based Clif Bar & Co. has completed a $10 million expansion of its commercial bakery in Indianapolis. The company says the project involved a more sustainable redesign of the facility for its employee-owners with a greater focus on energy efficiency.

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.