An innovative technology sharing program created by Spectrum Health Innovations, Grand Valley State University and GR Current has been awarded a $187,000 grant from the Michigan Initiative for Innovation & Entrepreneurship (MIIE).
The grant will be used to support Spectrum-Community T2, as the project is known, which aims to increase the success of biomedical commercialization opportunities in West Michigan’s growing life sciences corridor.
“Each member organization and the community as a whole will benefit from this unique collaboration,” said J. Kevin McCurren, executive director of the Center for Entrepreneurship and Innovation in the Seidman College of Business. “We foresee the commercialization of ideas, hands-on learning experiences, and ultimately, the creation of new companies and job opportunities arising from these efforts.”
Grand Valley will provide technical expertise and access to a diverse knowledge base, including product design, prototyping and market assessment. Spectrum Health Innovations, a business venture within Spectrum Health, will bring opportunities and clinical knowledge and resources required to develop life science products, and GR Current will contribute a network and resources designed to incubate start-ups and accelerate business growth.
The project calls for the creation of a Grand Valley student/faculty “Innovation Team” comprising an industry-based engineering graduate assistant, a full-time integrated MBA (FIMBA) student and an experienced entrepreneur-in-residence. The graduate students will work at Spectrum Health Innovations and the entrepreneur-in-residence will be an experienced start-up executive located at GR Current.
“Spectrum-Community T2 provides a high-impact experience with the commercialization process for advanced engineering and MBA students,” said McCurren. “We expect the program to become a feeder system for commercialization talent for West Michigan.”