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Austen BioInnovation Institute Gains Funding from The Burton D. Morgan Foundation to Accelerate Biomedical Innovation, Train Young Professionals
Date:7/17/2013

AKRON, Ohio, July 17, 2013 /PRNewswire-USNewswire/ -- The Austen BioInnovation Institute in Akron (ABIA) has been awarded $100,000 from The Burton D. Morgan Foundation to accelerate the development of promising patient-centered innovations while developing a next-generation workforce through hands-on experience in what it takes to advance a product to market. The award will allow ABIA professionals to expand their efforts to support a culture of biomedical innovation in Akron and across Ohio while encouraging collaboration among diverse health, science, engineering and entrepreneurial professionals.

The Morgan Foundation's grants increased what ABIA originally sought, with an additional $50,000 for ABIA's Technology Development Fund to develop and commercialize new biomedical technologies and $50,000 for graduate student internships to assist and help create biomedical companies.

"It is at the core of our mission to support ABIA in its efforts to develop a highly skilled and innovative workforce, while simultaneously fostering the growing biomedical sector in Northeast Ohio and across the state," said Deborah Hoover, president of the Morgan Foundation. "ABIA's value to Northeast Ohio's brightening economic future cannot be overstated."

ABIA President and CEO Dr. Frank L. Douglas expressed gratitude for the Morgan Foundation's generosity and support for fueling the growing biomedical expertise in Ohio.

"This demonstration of support from The Burton D. Morgan Foundation not only helps with our focus on patient-centered product innovation and preparing the next-generation workforce, it further strengthens the region's ability to compete effectively in the global economy," Dr. Douglas said. "By prov
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SOURCE Austen BioInnovation Institute in Akron
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