Four emerging life science and health care companies are spending the summer in Worcester as part of a new accelerator program that organizers say is designed to help promising startups grow while strengthening Central Massachusetts’ innovation economy.
Auxilium and Massachusetts Biomedical Initiatives (MBI) announced Tuesday the first cohort of the Auxilium-MBI Accelerator, a three-month program that will invest a total of $1 million across four companies working in medical technology, diagnostics, artificial intelligence and health care innovation.
Each startup gets a $250,000 investment and participates in workshops, mentorships, strategic planning sessions and fundraising preparations aimed at helping founders move beyond early-stage development and prepare for growth.
The inaugural cohort includes SilkMed, Predictive Healthcare, CPR Therapeutics and Microvitality.
SilkMed is developing a sprayable silk-based wound dressing intended to improve burn care and support healing. Predictive Healthcare is building artificial intelligence-powered technology to help clinicians identify postoperative complications earlier. CPR Therapeutics is developing an automated CPR device designed to improve survival rates while reducing injuries associated with chest compressions. Microvitality is creating a non-invasive tool intended to improve diagnosis of gastrointestinal diseases through small intestine sampling.
The companies were selected through what organizers described in the announcement as a competitive application process that attracted founders from across New England.
“The quality of applications we received exceeded our expectations and reflects the strength of innovation happening across the life science and healthcare ecosystem,” Auxilium Executive Director Zachary Dutton said in the announcement. “These founders have already demonstrated significant progress and are now focused on advancing their technologies, validating their markets, and preparing their companies for growth.”
Dutton said the partnership allows the organizations to combine investment capital, mentorship and industry expertise to help companies navigate their next stage of development.
The accelerator is a collaboration between Worcester-based Auxilium and MBI, a longtime nonprofit organization focused on growing the region’s life sciences sector through business incubation, workforce development and economic development initiatives.
Participants spend the next three months working with mentors and industry experts while refining business strategies, strengthening operations and preparing for future fundraising opportunities.
“The future of Worcester’s life sciences ecosystem will be built by founders who are creating the next generation of breakthrough technologies, and programs like this help ensure those companies can grow here,” MBI President and CEO Jon Weaver said in the announcement.
The program arrives as Worcester and Central Massachusetts continue to attract investment in life sciences, biomanufacturing and startup development. Organizers said the accelerator is intended not only to support individual companies but also to strengthen Worcester’s position as a destination for innovation and entrepreneurship.
Auxilium, which recently opened in downtown Worcester, operates both an accelerator program for companies ready to scale and an innovation studio designed to support earlier-stage founders. The organization is backed by Rucker Investments and focuses on providing startups with capital, mentorship and business support.
MBI estimates that since 2000 it has assisted more than 197 companies that have created more than 1,800 jobs and generated an estimated $2 billion economic impact across the region.
The accelerator cohort began June 16 and will continue through the summer.
