Type II: University of Utah Center for Medical Innovation I-Corps Site

University Of Utah, Salt Lake City UT

Investigators

Abstract

This project, from the University of Utah, creates an I-Corps Site at this institution. NSF Innovation Corps (I-Corps) Sites are NSF-funded entities established at universities whose purpose is to nurture and support multiple, local teams to transition their technology concepts into the marketplace. Sites provide infrastructure, advice, resources, networking opportunities, training and modest funding to enable groups to transition their work into the marketplace or into becoming I-Corps Team applicants. I-Corps Sites also strengthen innovation locally and regionally and contribute to the National Innovation Network of mentors, researchers, entrepreneurs and investors. This is a Type II proposal, requesting a "renewal" of funding for an existing I-Corps Site. There are two types of I-Corps Site proposals. Type I proposals are submitted by institutions that have not had prior funding as an I-Corps Site. These proposals may request $100,000 per year for up to five years. Type II proposals are submitted by institutions that have had prior funding as an I-Corps Site. These proposals may request up to $100,000 per year for up to three years. The University of Utah I-Corps Site program encourages and assists students and faculty in transitioning research projects to commercialization by providing education, training, resources and networking required for understanding markets, customers, product-market fit and to answer business and/or technology questions. The I-Corps Site program at the University of Utah is currently in its 3rd year and has trained nearly 90 teams and over 150 participants. The program resulted in successful business and technology go/no-go decisions, successful transition to commercialization, and helped advance five technologies to the commercial start-up stage. This extension focuses on refining the curriculum by implementing lessons learned in the first three years of the program, developing new teams and generating more successful transitions, as well as implementing the new financing model that will assure future program sustainability without further government funding. The Utah I-Corps Site enhances and builds upon this institution's existing expertise in medical device innovation, commercialization and entrepreneurship. This Site initiated the development of a model of transitioning from research-based technologies to viable commercial products in academic environment that allows the university to expand their innovation programs, provide more impactful resources to faculty and student innovation teams and improve recruitment of underrepresented participants. This extension further generalizes and disseminates the developed curriculum and implements agreements and procedures to assure its future financial sustainability. Partnership networks within the university support underrepresented student and faculty groups and offer the support and resources needed to help such groups thrive and participate in the process and, as the program becomes self-sustaining, will be extended, through internships and special courses to other colleges and local high schools. Thus, the program helps increase the diversity of the regional business environment leading to enhanced growth and economic prosperity for all citizens in the region.