The University of Montana is pleased to announce the acquisition of a substantial $4 million Research Evaluation and Commercialization Hub (REACH) award from the National Institutes of Health. The purpose of this funding is to establish the L.S. Skaggs Institute for Health Innovation–Research Evaluation and Commercialization Hub over the course of four years.
This initiative, located at the University of Montana, aims to accelerate the commercialization of biomedical innovation across several states, including Montana, Alaska, Idaho, and Wyoming. It also seeks to provide support for academic innovators in the development of medical products that address unmet medical needs across the United States.
The primary objective of the hub is to form strategic partnerships with various academic institutions, such as universities, community, technical, and tribal colleges, across the four-state region. Through these partnerships, the hub will facilitate the training of the next generation of biomedical innovators in entrepreneurship and product development.
Scott Whittenburg, Vice President for Research and Creative Scholarship at UM, has emphasized the focus on addressing equity in access to research for rural and tribal communities, as well as supporting biomedical research initiatives within Montana. He further stated that “The hub will help capture and commercialize our University intellectual property, attract biotech partners and investors, and ultimately grow the biomedical product development sector in the region.”
Dr. Karen Brown, a co-principal investigator of the grant, highlighted the challenges that biomedical innovators face in commercializing their technology, particularly in under-resourced areas. The goal of this initiative is to retain talented scientists and entrepreneurs within the region and prevent them from seeking opportunities elsewhere due to limited access to expertise and funding.
The hub will also provide proof-of-concept funding of up to £100,000 to support innovators in their business and product testing activities, serving as a crucial resource for those navigating the complex path of commercializing their technology.
Additionally, the hub will collaborate with the University of Washington to leverage biomedical product development capabilities from the resource-rich center of the Puget Sound and expand them across the region, benefiting from mentorship and project management support for academic innovators.
Paul Gladen, UM’s Associate Vice President of Research and Economic Development, emphasized the emergence of Western Montana as a biomedical entrepreneurship and innovation corridor, underscoring the commitment to fostering a community of early-stage entrepreneurs and providing them with access to expertise and mentoring. The overarching aim is to establish a robust ecosystem of resources for the region.
This award falls under the purview of the new L.S. Skaggs Institute for Health Innovation, which is dedicated to enhancing access to healthcare and promoting emerging health innovation for rural and tribal populations, with a specific focus on reducing barriers and bridging the resource gap facing academic innovators across the region.
Ultimately, the initiative seeks to address the needs of rural and tribal areas that have historically been overlooked in terms of investment in commercialization, creating new opportunities in early-stage biomedical product development that benefit from diverse perspectives.
In conclusion, the establishment of the L.S. Skaggs Institute for Health Innovation–Research Evaluation and Commercialization Hub, with its generous funding and strategic partnerships, reinforces UM’s commitment to pioneering biomedical innovation and entrepreneurship, making significant strides in addressing unmet medical needs and fostering economic growth within the region.
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