WARSAW — OrthoWorx is launching an initiative backed with $1.2 million in state funding to help cultivate innovation in northern Indiana’s orthopedic medical device cluster.
The organization is spawning a group called AcceLinx that will provide a forum for entrepreneurs to push new technologies and enterprises within the region’s medical device industry, which is the world’s largest concentration of orthopedic device manufacturing, according to Warsaw-based OrthoWorx.
AcceLinx is seeking $4.8 million over six years to establish operations. The Indiana Economic Development Corp. is offering $1.2 million in seed funding, while the city of Warsaw is adding $500,000.
“We at the city of Warsaw are delighted with the impending launch of AcceLinx,” said Mayor Joe Thallemer. “States and countries everywhere want to lead the next great wave of medical device innovation. We have an advantage in that competition given the talent and suppliers in our community, but we can’t stand still. We want Warsaw to still be the undisputed center of the orthopedic technology world 50 years from now, and that requires action now.”
Fundraising is underway to raise the additional money.
“Warsaw and the Northern Indiana region has been the orthopedic device capital of the world for more than 100 years, now supporting nearly 11,000 associates today,” said Jim Schellinger, president of the IEDC. “With rapid changes in life sciences today, the orthopedic industry needs a supportive environment to create more great-paying jobs in Indiana.”
AcceLinx will initially be based in OrthoWorx’s office in downtown Warsaw, but eventually move into its own headquarters. Both organizations will operate separately.