WINSTON-SALEM, N.C., Dec. 12, 2012 /PRNewswire-USNewswire/ --Wake Forest Baptist Medical Center has created a new operating division to translate its academic and clinical research and discoveries into marketable products and services that will benefit patients. The new enterprise, Wake Forest Innovations, is being led by Chief Innovation Officer Eric Tomlinson, DSc, and Ph.D, who is also President of the Piedmont Triad Research Park.
Wake Forest Innovations is investing in novel ways of stimulating conception and development of products and services that will generate new revenue streams by establishing and managing new business partnerships.
The new division provides the institution with several new services:
Product Innovation & Commercialization Services is responsible for supporting the creation of innovative technology and products and commercializing these through licensing to existing and startup companies. It also is focused on forming companies that can locate in the Piedmont Triad Research Park.
The group consists of an innovation team and a commercialization team. The innovation team 'embeds' scientist-entrepreneurs within faculty groupings to provide guidance on product ideas, intellectual property protection, regulatory practices, business case modeling, competitive position and path to market.
The commercialization team licenses technologies and products and incubates startup companies through their capital formation and early operations.
Product Innovation & Commercialization Services currently manages two investment funds: Spark Grants to
|SOURCE Wake Forest Baptist Medical Center|
Copyright©2012 PR Newswire.
All rights reserved