Page 22 - 2024 Westchester County Economic Development Guide

20
WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE
Element 46
Committed to Life Sciences Innovation:
Westchester County
Biosciences Accelerator
e Westchester County Biosciences Accelerator (WCBA) is the first and only competitive-entry, six-month program of personalized entrepreneurial education delivered for first time founders of bioscience ventures focused on healthcare innovation in Westchester. WCBA focuses on unlocking the unknown by addressing individual needs and utilizing accredited entrepreneur coaches and expert mentors to cra unique, educational experiences crucial to the development of successful ventures.
“By supporting entrepreneurship, we help unleash the vast reserves of talent and innovation that exist in the County,” says Novick. “Life sciences and medtech are priority sectors for Westchester. We want to continue nurturing a pipeline of life sciences startups and deepen the innovation ecosystem here, not only to ensure that we are prepared to effectively confront the evolving healthcare challenges we continue to face in the 21st century, but also to provide good jobs to our well-educated workforce and to build on key strengths within the County.”
Our unique and expansive network of 55+ WCBA alumni engages with participants to further elevate new founders’ business acumen and networks. Over the past five years, startup alumni have raised $21 million and added over 105 new employees, with several founders launching second ventures. As of January 2024, a new cohort of 12 first-time founders is engaged in the WCBA program.
Accelerating Ideas: Launch1000 Launch1000 is a fully remote, yet high-touch idea accelerator program, with a curriculum that focuses on helping entrepreneurs understand their chosen market, and fine-tune their product and their go-to-market strategy in preparing to launch a new venture. Launch1000 is presented in partnership with Entrepreneur Ready, a community-based accelerator program with a proven process to de-risk and evaluate the viability of a
business idea.
“Since 2021, over 450 entrepreneurs have completed the
program, launching businesses, creating jobs and generating revenue,” says Novick.
Catalyzing Entrepreneurial Growth:
The Element 46 Tech Accelerator Powered by Cela
e Element 46 Tech Accelerator selects 10 to 12 Westchester-based tech founders each spring and fall. Each startup is matched with hand-selected mentors
who are leaders in technology, finance, business strategy, venture capital, marketing and other key areas. e program comprises a rigorous accelerator curriculum focused on gaining traction with customers and preparing to raise capital. To date, more than 50 founders have completed the accelerator. Recent successes include Diadem Capital, which raised $600,000 during 2023, and ClubGrub, which has been named a new product of the year by Boardroom Magazine, and earned a spot as a finalist for the STA Group's Sports Technology Awards.
Produced in partnership with Cela Innovation, experts in tech accelerator programming and operations, Element 46 offers entrepreneurs a full, multi-week virtual curriculum, pitch and networking events for founders, access to a mentor network of investors and successful technology entrepreneurs, corporate and technology partnerships, and cutting-edge technology and business skills.
Westchester County Executive George Latimer said: “Westchester County is home to a vibrant and talented community of entrepreneurs who are leveraging technology in innovative ways and we are proud to have these ventures as part of that community.”
Bridget Gibbons, Westchester County Director of Economic Development, said: “Westchester County is a prime location for tech-driven startups to launch, scale and create impact.”
Deborah Novick said: “With more than 30 world-class tech companies emerging from our three most recent cohorts, e Element 46 Tech Accelerator has attracted founders, investors, mentors and other key partners
to collaborate and help deepen the vital and vibrant technology startup ecosystem in Westchester.”
Cela Innovation Co-Founder, John Lynn, said: “ e entrepreneurs entering the Spring 2024 program will face increasingly tough competition to gain an offer, but will also enter into a robust and growing community of innovators and community leaders in Westchester County.”
Innovation, Ignited
With Director of Entrepreneurship and Innovation Deborah Novick
at the helm, Westchester County nurtures diverse entrepreneurial
talent via three signature programs: the Westchester County Biosciences Accelerator, Launch1000 and Element 46.
© All Images Courtesy of Westchester County Government