Succeed Commercially with Technology Development
Succeed Commercially with Technology Development
Penn State College of Medicine is focused on fostering innovative research leading to new products and services to benefit society; building strong industry partnerships between our faculty and the business community; providing educational programming focused on entrepreneurship, innovation and commercialization; and contributing to the entrepreneurial ecosystem and economic development of the region.
The Center for Medical Innovation helps the College position itself as a nationally recognized academic medical center for commercialization and translational research.
The strategic goal of the Center for Medical Innovation is to make it easy to do business with Penn State College of Medicine and Penn State Health Milton S. Hershey Medical Center, and to move innovative technologies through the commercialization pipeline to industry, where they will make a positive economic impact in Pennsylvania.
The Center for Medical Innovation is responsible for the following:
- Serving as an efficient and effective conduit for the transfer of promising Penn State College of Medicine technologies to industry.
- Contributing to regional economic development by engaging the innovation ecosystem stakeholders and supporting new venture creation.
- Encouraging greater collaboration between academia and industry.
Regardless of your level of experience or interest in technology commercialization, working with the Center for Medical Innovation will enable you to achieve commercial success while maintaining your clinical, teaching, publishing and academic goals.
The entrepreneurial ecosystem at Penn State College of Medicine is where research and ideas converge with industry to bring your innovations from the bench to the bedside. Clinicians, faculty, staff, postdocs and students are building a better future by moving their groundbreaking innovations down the path of technology commercialization and into the lives of patients around the world.
About the Commercialization Process
The Center for Medical Innovation offers a number of resources, programs and services that educate and provide assistance to faculty members in identifying and implementing the best strategies for moving their discoveries beyond the lab and into the commercial arena.
The path to technology commercialization is unique to each innovator, but sometimes includes steps such as patents, licensing, start-up creation.
In addition to assisting with the administrative and legal resources to help bring technology to the marketplace, the Center for Medical Innovation offers a variety of programs that provide monetary resources to support the same goals.
Being an entrepreneur means having to wear a number of hats and facing many often-unfamiliar challenges during the early critical phase of your company. Typically, most early stage spin-out companies cannot afford a full-time executive member of the leadership team. For this reason, the Entrepreneur-in-Residence program was created to provide support to investigators at Penn State College of Medicine.
The entrepreneurs in the EIR program provide these invaluable resources to College researchers:
- Serve as mentors and coaches through the commercialization process.
- Meet with investigators one-on-one to help them think through their ideas and guide them along in the process of company formation where appropriate.
- Direct start-up companies to the resources needed to get going and assist in finding management to lead them moving forward.
- Become a member of the management team.
Programs for the Public
In addition to supporting investigators at Penn State College of Medicine, the Center for Medical Innovation also works to better the entrepreneurial community of central Pennsylvania as a whole.
The Office does so through programs such as the Innovation Café, a regional event focused on expanding and sustaining the entrepreneurial ecosystem in Central Pennsylvania. This reoccurring networking forum features high-profile guest speakers discussing industry innovations, business trends, regulations and the impact on the life sciences and healthcare community.
Contact the Center for Medical Innovation
External investigators, potential industry partners and others interested in the Penn State College of Medicine technology development and commercialization process are encouraged to contact the Center for Medical Innovation at CMI@pennstatehealth.psu.edu or 717-531-8496.
What's New in Medical Innovation
Research Concierge Service
Penn State College of Medicine's Research Concierge Service offers another level of support in the research development process.
The Concierge helps investigators strengthen grant writing skills, form collaborative teams, and develop complex research proposals.
In addition, the Concierge can advise you on resources available to help you through various stages of the grant process or direct you to the appropriate office for your need.