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Reinventing Normal 3: Connie Chang, Fast Forward Medical Innovation
The document outlines a discussion on accelerating biomedical innovations from research to market through collaboration, education, and funding. It emphasizes creating a culture of innovation within medical research by providing support resources, mentorship, and fostering partnerships with industry. Key initiatives include commercialization education and funding opportunities to help researchers navigate the commercialization process effectively.
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Reinventing Normal 3: Connie Chang, Fast Forward Medical Innovation
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- 4. 4 Crossing the Chasm Research Faculty and Students LEVELOF TECHNOLOGY DEVELOPMENT Entrepreneurs and Business Community Research Resources Commercialization Resources “Valley of Death” IDEAS (Universities, Research Institutes, Health Systems) IMPACT NEW PRODUCTS for PATIENTS (Private Sector) 10/5/17 4
- 5. 5 5 IDEA • Basic research •Team science Translation • Model systems • Technical proof of concept Clinic / Community • Human trials • Implement • Integrate IMPACT • Patients • Products • Scale-up A B C The right team, The right problems De-risking ideas, Know your customer, Workflow impact Funding, Business model, Finding partners
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- 8. 8 Innovations Across Verticals– Guided by Faculty Champions and Innovation Council Mike Holinstat, PhD Pharmacology, Cardiovascular Medicine Dan Orringer, MD Neurosurgery Tim Cornell, MD Pediatric Critical Care Joyce Lee, MD, MPH Pediatrics 10/5/17 8
- 9. 9 Business Development Build industry collaborations Scale as an Innovation Hub Statewideand nationwide reach and impact Education Tailored learning for busy faculty and students, clinicians and researchers Funding+Mentors Resources advancing biomedical research to commercial paths 9
- 10. 10 Education FFMI Commercialization Education • Programs Accelerating Commercialization Education (PACE) – Focus on life science and biomed commercialization •For faculty, post docs, trainees and students • Partner where possible with ecosystem partners
- 11. 11 Education 10/5/17 11 • Needs assessment •Design thinking • Customer discovery • Value proposition • FDA / regulatory • IP • Business case
- 12. 12 N i kk i S y l i a n t e n g @ t o p a r k o r n o t t o p a r kFrom Joyce Lee’s “HUMAN-CENTERED DESIGN FOR HEALTH CARE”
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- 16. 16 Commercialization Funds • Enhance commercial potential • $25K-$50K for single milestone •Review panel with market expertise • Quarterly reviews and awards • FFMI and U-M Tech Transfer parntership • Projects with high potential for commercial success • $100K-$250K awards – 1-year of funds, late-stage translational studies 16 Funding & Mentorship
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- 18. 18 Finding Industry Partners • Build collaborations •Creative new ways to partner (contracts) • Relationship management • Partner with other units such as Business Engagement Center 10/5/17 18 Business Development
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- 21. 21 Leading Indicators of Results: (Med School only) • Inventions, Agreements •Industry awards ($, %total) 0 25 50 75 100 0 20 40 60 80 100 120 140 160 180 200 2012 2013 2014 2015 2016 NumberofAgreements NumberofInventions Fiscal Year Inventions Agreements Med Startups FY12 FY13 FY14 FY15 FY16 3 2 1 10 5
- 22. 22 Broadening FFMI Impact • Taking most FFMI programs to a statewide model • Education, Business Development and Funding/Mentorship •Train-the-Trainer for education dissemination 10/5/17 22 Innovation Hub
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