The Veterans Entrepreneurship Initiative’s upcoming health company accelerator program has taken its next step.
Leaders at the first-year accelerator have narrowed down a pool of more than 125 applicants to a shortlist of about half-dozen that will make up the first cohort.
The group will announce the companies in the coming days.
VEI cofounder Ricardo Garcia called the response “incredibly encouraging.”
“It’s clear there is a demand for a program that combines targeted industry focus with the support and mentorship needed to succeed,” he said.
The accelerator will run its companies, which will be in the healthcare space for this cohort, through a 12-week program of business building.
The companies must have some level of veterans in their leadership teams to qualify.
“The caliber of applications we have received speaks to the innovative ideas veterans bring to the healthcare space, particularly in areas like AI in healthcare, neurotech and digital health,” Garcia said.
Dubbed the SPEAR Accelerator, VEI leaders plan to launch the accelerator in February.
The goals has always been to empower veteran entrepreneurs through resources and guidance.
Among the criteria considered for the program was veteran leadership, an alignment with VEI’s healthcare focus and a commitment.
“It’s a big step forward,” Garcia said. “We’re committed to making it a rigorous and thoughtful selection process.”
Leaders at VEI launched the process in May alongside Johns Hopkins Hospital.
“Seeing the applications roll in and reading through the passion, purpose, and innovation in each submission is inspiring,” Garcia said. “This is what fuels our passion to do this and I’m grateful for our VEI team, advisors and strategic partners. It’s one thing to have a vision for an accelerator that empowers veteran-led startups, but it’s another to see that vision come to life.”
