Tech Transfer eNews Blog

NIH gives U of Minnesota $3M in funding to boost commercialization of health care innovations


By David Schwartz
Published: April 1st, 2015

The National Institutes of Health (NIH) has granted the University of Minnesota (U of M) $3 million to become one of three newly selected Research Evaluation and Commercialization Hubs (REACH) nationwide. The other two schools selected are University of Louisville and Stony Brook University.

The funding, which U of M will match with another $3M, will support the training of researchers to take their research to market, partnerships with outside industry and other tech transfer initiatives. The grant will support between 10 and 20 commercialization projects each year, with a special focus on health care innovations such as diagnostics tools, medical devices and preventative medicine.

“REACH will play a crucial role in providing the coaching, training and expertise needed to focus our research efforts on commercial markets and accelerate the tech transfer process,” says Brian Herman, vice president for research at U of M.

“I am excited by this opportunity to expand our commercialization efforts and maximize the health, economic and social benefits of university research and outreach to society,” Herman adds. “New pharmaceuticals and medical devices will lead to longer lives, lower costs in medical care and important strides in the battles against the most formidable diseases.”

Source: Minneapolis / St. Paul Business Journal

Posted under: Tech Transfer e-News

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