NEW ORLEANS, July 6, 2020 /PRNewswire/ -- Sopris Capital together with Adaptation Health, and The Idea Village have partnered to launch a company application for The Southeast Health Innovation Tour. This opportunity seeks to connect emerging healthcare entrepreneurs who are focused on addressing needs among vulnerable populations directly with access to capital, contacts in Medicaid, and opportunities to scale. Sopris Capital, Adaptation Health, and The Idea Village recognize that innovation is not only happening in coastal cities and this project hopes to connect with innovators outside major markets to better understand new and emerging startups. Founders interested in participating in this opportunity can apply here now.
The Tour has three main goals for potential impact:
- Founders meet with a VC in hopes of a future early-stage financing deal or term sheet.
- Create connections and contacts for future opportunities to contract within Medicaid.
- Discover opportunities to help scale the startup through The Idea Village's accelerator program.
Companies that are selected to participate, will meet with representatives from the project team in small, semi-private investor meetings (subject to change given evolving public health regulations). The Tour is accepting applications to meet with companies in the following cities:
- Little Rock
- New Orleans
The final meeting locations will be determined by the number of qualifying applicants per location. All dates for the meetings are currently TBA, and the Tour will closely monitor and follow all public health recommendations and best practices throughout the planning.
THE IDEAL APPLICANT PROFILE
The Southeast Health Innovation Tour looks to connect with scalable healthcare and health technology startups and will favor applicants who are addressing needs among vulnerable populations. All companies that apply should be interested in raising venture-backed financing. Applicants should have a combination of a strong team, early signs of traction, a product or service already in the market, and raising a Seed+ or Series A round of financing.
About Sopris Capital: Sopris Capital is a New York based venture capital investment firm that provides equity capital to high-growth tech-enabled business services, healthcare IT, and healthcare services sectors. Sopris is typically a companies first institutional round of capital with an initial equity check size of $2M-$5M and also supports companies with follow-on rounds of financing if needed. Sopris works closely with its portfolio companies to shape strategy, build management organizations, attract customers, and develop critical industry relationships.
About Adaptation Health: Adaptation Health is a buyer-side incubator program developing and building thought leadership and value on behalf of state Medicaid programs and Managed Care Organizations. We connect state Medicaid agencies, Managed Care Organizations, and innovative ventures to solve deep-rooted problems in Medicaid service delivery.
About The Idea Village: Founded in 2000, The Idea Village is a New Orleans based 501(c)3 nonprofit founded on the principle of supporting regional startups and the big thinkers that power them. VILLAGEx is our flagship, industry-leading GAN accelerator focused on catalyzing rapid growth for ventures with highly scalable, technology-enabled business models. Over 261 entrepreneurs have gone through this accelerator program and 73% of those alumni companies are still in business today, having created a $178 million/year annual economic impact for the regional economy.
SOURCE Adaptation Health