Best Practice CIMIT: 250 medical innovation solutions developed - PowerPoint PPT Presentation

Best practice examples suggest a translational research center can focus on commercialization of university research and entrepreneurial development Best Practice  CIMIT:  250 medical innovation solutions developed Examples: Key  78 had commercial exit, including 61% via start-ups, 20% licensed and 19% co-developed with industry collaborator Observations  GCIC:  66 product development funding awards  35 start-up companies supported  17 businesses attracted to Ohio • CIMIT  $1 billion in follow-on funding and M&A transactions – 19:1 leverage • GCIC  ONAMI: • ONAMI  58 commercialization projects completed • NY-BEST  37 companies formed and still in existence • Mfg USA Institutes  $9.7 million in grants and investments in commercialization and start-ups generated more than $300 million in private investment 1

Activity Best Practice Examples Increase federal research ONAMI provides matching funds for competitive federal funding grants – helped Oregon State win major federal center Activities Address industry applied All examples are involved in either applied research with research consortiums and/or individual companies Found in All provide facilities for prototyping, testing or demo, except Shared use facilities Translational CIMIT Entrepreneurs-in-Residence All, except Mfg USA Institutes Research Proof-of-Concept Funding All, except Mfg USA Institutes Centers CIMIT runs a boot camp for faculty involved in commercialization projects GCIC in attracting out-of-state companies Mfg USA Institutes with broad-based STEM workforce efforts, • CIMIT Broader Business Assistance standards work and focus on building relationships and • GCIC networks • ONAMI NY-BEST with supply chain connections and broader business • NY-BEST assistance • Mfg USA Institutes Voice of Customer in CIMIT focuses on “clinical pull” Commercialization Model Mfg USA Institutes utilizes roadmaps Supporting Collaborations One novel feature is CIMIT’s “site miners” and “colab” web- 2 Across Research Institutions based infrastructure to build and manage collaborative teams

Best Practice Examples of Translational Research Centers Case Studies Developed: • Oregon Nanoscience and Microtechnologies Institute (ONAMI) • Global Cardiovascular Innovation Center (GCIC) • New York Battery & Energy Storage Technology Consortium (NY-BEST) • Consortia for Improving Medicine with Innovation & Technology (CIMIT) • Manufacturing USA Institutes Typology • Year Founded • Mission • Governance • Institutions Involved • Activities: o R&D Activities  Pre-competitive and federally sponsored R&D  Applied R&D – Individual company specific commercial validation and prototyping  Testing & Demonstration o Commercialization Activities  Market assessment and proof-of-concept funding for advancing new company  New firm advancement/acceleration/incubation  Business Funding & Other Assistance including seed stage investments, other incentives • Talent and workforce generation • Organizational Funding • Results 1 | P a g e

Best Practice Case Study: Oregon Nanoscience and Microtechnologies Institute Oregon Nanoscience and Microtechnologies Institute Year Founded 2006 Mission ONAMI (Oregon Nanoscience and Microtechnologies Institute) is where academia, business and government come together to accelerate research and bring breakthrough ideas to market. It’s where entrepreneurs have access to cutting-edge resources and investors have opportunities to fund groundbreaking technology. Governance Independent non-profit organization; 11 member Board of Directors – 4 research university VPRs/Engineering Deans; 1 national lab (Pacific Northwest National Lab); 6 industry executives Institutions Involved • Oregon State University, University of Oregon and Portland State University – each has funded R&D lab through ONAMI • Major corporations, such as Intel, FEI, CH2M Hill, HP • A growing cadre of new and emerging companies, directly associated with ONAMI • Invested in university research labs – has R&D Activities Pre- competitive established in partnership with universities a network of seven facilities across OSU, PSU, UofOregon • Provided matching funds for competitive federal grants, including equipment as well as research grants and centers • Done more in early years – but has sustained funding for university labs – provided $691k to Oregon State and $226k to Portland State in 2016 Applied R&D • Provides matching grants for industry R&D with universities ($4.5 million in first 7 years or ~650,000 annually) • Network of labs able to do wide range of materials analysis, characterization and fabrication • Not an emphasis in lab network Testing & Demo • Offers Launch Funding, a competitive grant Commercialization Market Activities Assessment program of up to $75,000 to refine or validate & Proof-of- through proof-of-concept and to assist in optimal 2 | P a g e

Oregon Nanoscience and Microtechnologies Institute Concept company formation. Intended for those with an idea that has commercial value and who intend to form a company. • Has on staff an experienced market strategist and researcher to work with commercialization teams funded • Has on staff 3 entrepreneurs-in-residence to work New Venture Advancement with start-up companies with domain experience in key applications of nanoscience and microtechnologies from advanced materials/semiconductors/sensors/optics to energy generation and storage to life sciences to water • Provides pre-seed/seed investment for company Business Funding & formation of up to $250,000 – intended to bridge Other initial start-up and angel or venture capital Assistance investments • Sponsors and helps match MS and PhD students, Talent and Workforce Development interested in gaining entrepreneurial work experience, for internships with commercialization portfolio companies with funding for a 6-9 month period at $25/hour Organizational Funding • Over the years, state funding has been critical to sustaining ONAMI – with average funding of approximately $2.5 to $3 million • In 2016 tax filing, ONAMI reported total revenues of $3.1 million of which $2.4 million was their ongoing state grant. Other revenues generated from program activities and contract services. • Does not own or have an interest in any of the university lab facilities Results • R&D: Helped grow Oregon’s competitiveness for federal R&D from ~$9 million per year to over $30 million. With ONAMI support Oregon State as the prime with participation of University of Oregon and other research universities awarded an, which NSF Center for Sustainable Materials Chemistry -- $21.5 million, 5 year award, which was renewed through 2021 • Commercialization: o 58 commercialization projects completed o 37 companies formed that are still in existence 3 | P a g e

Oregon Nanoscience and Microtechnologies Institute o Grants and investment of $9.7 million in portfolio companies has generated $400 million in follow-on investments and revenues, of which 78% is private investment, 11% public investment and 11% is revenues 4 | P a g e

Best Practice Case Study: Global Cardiovascular Innovation Center Global Cardiovascular Innovation Center Year Founded 2007 Mission Focused on the formation, attraction, expansion and retention of cardiovascular companies to create jobs and facilitate economic development in the State of Ohio Governance Part of the Cleveland Clinic Foundation, but independently governed by a 4 -member Board of Directors involving representatives from the research, clinical care and investor community. Has a much broader Commercialization Advisory Board comprising BoD members, other physicians from Cleveland Clinic, other universities (Ohio State, University of Cincinnati, University of Toledo, UH Cleveland, Stanford) and a majority from industry and venture community. Institutions Involved While led by Cleveland Clinic, GCIC has partnerships with a number of other universities including Case Western, Ohio State, University of Cincinnati, and University of Toledo. R&D Activities Pre- Not a featured activity of GCIC, but available through competitive Cleveland Clinic and other research partners Applied R&D Not a featured activity of GCIC, but available through Cleveland Clinic and other research partners • Offers preclinical facilities for testing the next Testing & Demo generation of cardiovascular interventional and surgical applications, whether devices or procedures. Features two large procedure suites equipped with latest in imaging, surgical, monitoring and recording equipment, along with conscious testing and telemetry capabilities. Plus four surgical stations for conducting studies on large and small subjects. • As part of its commercialization funding to start-up Commercialization Market Activities Assessment companies allows for market assessment and other & Proof-of- validation of technology directed towards specific, Concept measurable project development activities to advance the commercial opportunity (see below) • Taps experienced staff to assist start-up companies New Venture Advancement with product development to accelerate their commercialization development and success involving engineering, product marketing and 5 | P a g e