U-M Innovation Partnership targets diseases with funding
The University of Michigan’s Innovation Partnership is off to a fast start, raising $2 million of its $10 million goal and investing $680,000 into four promising projects.The university announced the partnership last year as a way of breathing life into promising healthcare research at U-M’s Life Sciences Institute. Many of these discoveries never make it out of the ivory tower due to the lack of seed funding at the onset before commercialization.That’s called the Valley of Death by researchers and venture capitalists. Often there isn’t enough venture capital or angel investors to go around for all of the discoveries made by U-M’s top-shelf researchers. It hopes to bridge this valley with precious start-up funds.The partnership is funded with philanthropic sources. The partnership also pairs up researchers with mentors and advisors to help them bring their discoveries to commercialization and help create more jobs locally.Source: University of MichiganWriter: Jon Zemke
The University of Michigan’s Innovation Partnership is off to a fast start, raising $2 million of its $10 million goal and investing $680,000 into four promising projects.
The university announced the partnership last year as a way of breathing life into promising healthcare research at U-M’s Life Sciences Institute. Many of these discoveries never make it out of the ivory tower due to the lack of seed funding at the onset before commercialization.
That’s called the Valley of Death by researchers and venture capitalists. Often there isn’t enough venture capital or angel investors to go around for all of the discoveries made by U-M’s top-shelf researchers. The partnership hopes to bridge this valley with precious start-up funds.
The partnership is funded with philanthropic sources. It also pairs up researchers with mentors and advisors to help them bring their discoveries to commercialization and help create more jobs locally.
Source: University of Michigan
Writer: Jon Zemke
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