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Spectrum Health, Grand Valley State University and GR Current Partner for State Innovation Grant

MIIE awards project $187,000 to advance promising biomedical ideas

An innovative technology sharing program created by Spectrum Health Innovations, Grand Valley State University and GR Current has been awarded a $187,000 grant from the Michigan Initiative for Innovation & Entrepreneurship (MIIE).

Spectrum-Community T2, as the project is known, uses a multidisciplinary process drawing on expertise and resources from the three member organizations to increase the success of biomedical commercialization opportunities in West Michigan’s growing life sciences corridor.

“This project leverages the unique capabilities and skill sets of each member organization,” said Brent Mulder, Ph.D., senior director, Spectrum Health Innovations. “The goal is to enhance the working relationship between them to accelerate the biomedical tech transfer and commercialization process in West Michigan.”

Each member organization provides a distinct area of expertise:

  • Spectrum Health Innovations (SHI), a business venture within Spectrum Health, brings opportunities and clinical knowledge and resources required to develop life science products.
  • Grand Valley provides technical expertise and access to a diverse knowledge base, including product design, prototyping and market assessment.
  • GR Current contributes a network and resources designed to incubate start-ups and accelerate business growth.

“Each member organization and the community as a whole will benefit from this unique collaboration,” said J. Kevin McCurren, executive director of the Center for Entrepreneurship and Innovation in the Seidman College of Business at Grand Valley. “We foresee the commercialization of ideas, hands-on learning experiences, and ultimately, the creation of new companies and job opportunities arising from these efforts.”

“The grant is yet another example of the value added when local organizations work together to reach the same goal,” said Jeff Royce, GR Current director. “This collaboration will undoubtedly lead to the commercialization of ideas that will be turned into companies and create jobs.”

The project calls for the creation of a Grand Valley student/faculty “Innovation Team” comprising an industry-based engineering graduate assistant (GA), a full-time integrated MBA (FIMBA) and an experienced entrepreneur in residence (EIR).

  • The GA, backed by the full resources of Grand Valley’s Padnos College of Engineering and Computing, will work at Spectrum Health Innovations and will assist with design optimization and the prototyping process.
  • The FIMBA grad student, backed by the full resources of Grand Valley’s Seidman College of Business, will work at Spectrum Health Innovations and assist in market assessment, prototyping and commercialization
  • The EIR is a half-time, experienced start-up executive located at GR Current who provides oversight to the innovation process and manages innovation projects in the commercialization process.

Through GR Current, the EIR and Innovation Team have access to the West Michigan incubator, which includes a network of technical and business expertise, early stage capital, equipment and facilities.

“Spectrum-Community T2 provides a high-impact experience with the commercialization process for advanced engineering and MBA students,” said McCurren. “We expect the program to become a feeder system for commercialization talent for West Michigan.”

“Each year, Spectrum Health practitioners conduct research and perform complex procedures to identify and resolve a host of medical issues, generating a wealth of ideas for advancing healthcare,” said Mulder.  “We believe this partnership will streamline and strengthen the commercialization process of promising biomedical device ideas.”

MIIE was established in 2008 to help jump-start the Michigan economy by leveraging the enormous intellectual resources existing at the state’s universities. It does so by providing gap funding to speed commercialization of research, helping universities launch start-up companies, promoting an entrepreneurial risk-taking culture, and strengthening ties between small business, industry and academia. Funding has been provided through the generosity of the C. S. Mott Foundation, the New Economy Initiative for Southeast Michigan, and the Dow Foundation. For 2012-2013, support has been provided by the University Technology Acceleration and commercialization Program (UTAP) of MEDC, the Michigan Economic Development Corporation.

MIIE’s collaborative organization and methodology is based on the success of its predecessor program, MUCI, the Michigan Universities Commercialization Initiative. To date, MIIE has awarded over $7 million to 148 projects at 14 universities, and 81 start-ups have developed out of MUCI- and MIIE-funded technologies.

Spectrum Health is a not-for-profit health system, based in West Michigan, offering a full continuum of care through the Spectrum Health Hospital Group, which is comprised of 11 hospitals including Helen DeVos Children’s Hospital; 173 ambulatory and service sites; 960 advanced practice providers and employed physicians including members of the Spectrum Health Medical Group and West Michigan Heart physician groups; and Priority Health, a health plan. Spectrum Health is West Michigan’s largest employer with 20,800 employees. The organization provided $250 million in community benefit during its 2013 fiscal year.

spectrumhealth.org

Grand Valley State University, one of the 100 largest universities in the nation, attracts more than 24,000 students with high-quality programs and state-of-the-art facilities. Grand Valley is a comprehensive university serving students from all 83 Michigan counties and dozens of other states and foreign countries. Grand Valley offers 82 undergraduate and 31 graduate degree programs from campuses in Allendale, Grand Rapids and Holland, and from regional centers in Muskegon and Traverse City. The university is dedicated to individual student achievement, going beyond the traditional classroom experience, with research opportunities and business partnerships.

GR Current is an innovation incubator located within the Grand Rapids SmartZone.  Initially established in 2003, GR Current helps support high-tech, high growth technologies centering on life sciences, medical devices, software and IT development, advanced manufacturing and homeland security.  Supported by The Local Development Finance Authority, and partners such as the MEDC, Grand Valley State University, The Right Place and Spectrum Health, GR Current helps entrepreneurs with everything from subsidized office and laboratory space, to access to state backed investment programs as well as access to a vast network of local and regional resources.