BioVentures LLC of Little Rock, in partnership with The Venture Center, announced that it’s accepting applications for the 2025 Arkansas Collaborative for Technological and Innovative Venture Equality (ACTIVE) program.
In its second year, the initiative aims to better health outcomes throughout the state and create a supportive environment for new ideas and entrepreneurs.
The ACTIVE program is dedicated to supporting socially and economically disadvantaged individuals (SEDI) with early-stage health care and health technology ventures, in hopes of addressing underrepresentation and unrealized potential in the health sector. By focusing on SEDI entrepreneurs, ACTIVE aims to promote equitable innovation in the health care industry, drive economic growth, introduce diverse health tech solutions and improve health outcomes.
Year two of ACTIVE hopes to expand opportunities for SEDI entrepreneurs in the health landscape even further than in the program’s inaugural year.
Funded by the Minority Business Development Agency‘s Capital Readiness Program, the initiative also partners with the University of Arkansas at Pine Bluff and Philander Smith University to grow its reach and impact.
The year-long program accepts 25 participants annually. Participants gain access to a range of services, including entrepreneurship bootcamps, assistance with business setup, guidance on funding options, including loans and grants, networking opportunities with venture capitalists, personalized mentorship and legal support in health care compliance and intellectual property.
“We are excited to begin this second year of working with inspiring entrepreneurs from across Arkansas who have historically faced barriers and limited access to capital,” Stefanie Kennon-McGill, senior program manager at BioVentures, said in a press release. “Improving the health of all Arkansans starts by supporting entrepreneurial ideas that come from a more representative range of the individuals that make up our great state.”
The program is open to Arkansans who have faced social and economic barriers to accessing business capital. Training starts in January 2025 and applications close Nov. 22. Applicants must be current Arkansas residents.
“The Venture Center is thrilled to continue offering a skills training bootcamp for this initiative,” Daniel Schutte, vice president of strategic partnerships at The Venture Center, said in the release. “Our aim remains to equip emerging health care innovators with the essential tools and knowledge to scale their businesses and drive lasting change in the industry.”