From mind to marketplace_ tvc helps students and faculty turn inventions into businesses – daily utah chronicle
“The invention that I have been working on with fellow MBA students over past year came from a clinical need that was observed by one of our professors, John Langell,” Pieper said. New chairs innovations in design technology and materials “Over 150,000 women die each year from postpartum hemorrhage, and an overwhelming majority (90+ percent) occur in developing countries where existing solutions are too expensive or not available. New technological innovations 2014 We are developing a medical device that offers a new approach that will be re-usable, cost effective, and easily adopted in these areas of the world.”
TVC works in conjunction with the Lassonde Entrepreneur Institute, Center for Medical Innovation, Entrepreneurial Faculty Scholars and the Center for Engineering Innovation, and with the combined specialized expertise of all of these organizations, according to Pieper, “they have helped to create a commercialization enterprise at the U that simply could not have been established by TVC alone,” said Pieper.
Both TVC and Lassonde Entrepreneur Institute host events and competitions with the intention of awarding students with the funds necessary to help their innovations find a market in the future.
The Bench 2 Bedside program hosted by TVC is one such contest. New innovations around the world It’s described on their website as an “exciting and vibrant program designed to introduce medical students, engineering students and business students to the fascinating world of medical device innovation.”
“With the competition money we won from student competitions like Get Seeded and Bench 2 Bedside, we are now finalizing the design and starting to prepare manufactured units for clinical trials this year,” said Pieper, who, along with his team of entrepreneurs, is on the brink of successfully turning their invention into a marketable product and business. New innovations in solar technology “We have partnered with Clinical Innovations, a local medical device company that specializes in global women’s health, to help us get the device approved by the FDA as well as to eventually market and distribute the product. New innovations in information technology 2015 We really hope that our device will have a large impact and save the lives of hundreds of thousands of mothers every year throughout the world.”
TVC has also organized a board of experts called the Commercialization Engine Committee from different disciplines who are used as a resource for inventors looking for advice. Cool new innovations In 2016, 900 professionals were added to the committee.
Speaking about the Commercialization Engine Committee, James E. New innovations in information technology Thompson, the Interim Executive Director at TVC, said, “A few years ago, our office realized one of the most efficient ways to successfully manage this growth in multifarious discoveries was to create an evergreen network of external experts from as many fields of study as possible with whom we could rely upon to assist us in this exciting, yet diverse work.”
Last year, TVC implemented the Lean Cohort program, which is for faculty who want to create real businesses based on their own inventions to create an impact in their given markets.
One Lean Cohort cycle is launched each month and runs for seven weeks. New innovations gme A three-person team consisting of a Principal Investigator, Entrepreneurial Lead and a Business Mentor work together to achieve certain milestones that, if met, will lead to the successful commercialization of their inventions.
According to TVC’s year-end report, this milestone-driven process gives participants three subsequent goals. New innovations in food technology “First, teams are to validate that the technology addresses an actual problem that real, potential customers are experiencing. New innovations in the world Second, they are to validate that the technology solves that problem and that potential customers would purchase the product the team is developing. New innovations in it Third, they are to understand how large the market potential for their technology is.”
An example shared in TVC’s year-end report is AvanSci Bio, a company that worked to create a device that would make testing tumors much easier, more successful and more cost efficient.
According to the report,“The result was a tool called the MilliSect™ Instrument that was initially sold by the U-spinout. New world innovations This technology, now owned by Roche Diagnostics, is able to extract tissue samples as small as 250 microns across (a human hair is about 75 microns across by comparison), far more precise than hand scraping samples produce. New innovations in science and technology MilliSect is also automated, computer controlled, hands-free, and much less expensive than laser methods. New ideas of innovation It is saving pathologists time and, more importantly, resulting in less patient biopsies having to be redone.”