As a participant in the new IDeA Regional Entrepreneurship Development (I-RED) program, the goal ofthis proposal is to create an educational product to promote entrepreneurism and commercialization in theMountain West region of IDeA states. The educational product and overall program are intended to addressthe needs of IDeA state academic institutions in developing and strengthening technology transfer programsto stimulate technological innovation and the needs of IDeA state investigators in translating scientificdiscoveries and technologies from research laboratories into commercial products that improve humanhealth and promote economic growth in IDeA states.Many factors limit the goal of successfully commercializing basic and translational science in IDeA states.These include a lack of knowledge and understanding among innovators regarding how technologies arebrought to market, a lack of exposure to entrepreneurial and commercialization education, training, andmentoring (in areas such as patents, startups, business plan development, venture capital and angelinvesting), a limited knowledge of technology transfer processes and SBIR/STTR programs, and limitedresources in university Technology Transfer Offices.To address these deficits, we will develop an entrepreneurship educational product that can be utilized byacademic institutions, especially those in IDeA states, to inspire, train, and support their students andfaculty to explore entrepreneurial opportunities. The product will consist of didactic and interactive formsof courses, including manuals, case reports, and databases. These will develop and enhance academicscientists' entrepreneurial knowledge and skills such as patent filing, business plan development, capitalraising, bookkeeping, financial management, business operation, and marketing, ultimately enhancingskills to compete for SBIR/STTR grants and to pursue entrepreneurial interests in academicenvironments. The product will be developed through a rigorous research and development process(including needs assessment, testing, validation and evaluation) and marketed for commercialization.The goals of this application in Phase I are to: 1) Establish the Hub structure, governance, and leadershipplan; 2) Complete needs analyses, set product development goals, complete product design, developprototypes and effective plans for testing; 3) Develop pilot project funding opportunity announcements, solicitapplications, and establish processes to evaluate and select projects for funding; and 4) Implement anevaluation plan to monitor Phase I progress. In Phase II, our goals are to: 1) Refine the educational productthrough implementation and testing at academic institutions; 2) Fund Pilot s and validate the educationalproduct through Pilot s and SBIR/STTR application; 3) Develop and implement commercialization plansfor the educational product; and 4) Implement an evaluation plan to monitor Phase II progress.
Public Health Relevance Statement: Project Narrative
Translating bench science to the patient and the public faces many challenges, particularly in
IDeA states. The objective of this proposal is to develop an educational product to promote
and develop biomedical entrepreneurship in the Western IDeA states, addressing the specific
needs of both IDeA state academic institutions in developing and strengthening technology
transfer programs that stimulate technological innovation, as well as the needs of IDeA state
university investigators and innovators (from students to faculty) in translating scientific
discoveries and technologies from research laboratories into commercial products that
improve human health and promote economic growth in IDeA states. The product of this
initiative will constitute a comprehensive, sustainable educational, mentoring and consulting
product to accelerate biomedical entrepreneurship and create the next generation of
entrepreneurs.
Project Terms:
