Harnessing Academic Innovation

Originally Published MX March/April 2006

BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT

Medtech companies can find valuable partners in universities that have recognized the value of commercialization.

Lori Luechtefeld

Innovation and technology development, particularly in the medical world, are inherent in university systems, where faculty and students are continually testing new theories and protocols. Both established and start-up medical device companies can gain valuable access to cutting-edge technologies by partnering with educational institutions on commercialization activities. However, doing so often requires company executives to recognize and respect the differences between industry and academia, and put special effort into bridging this sometimes-expansive gap.