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The Center for Innovation and Entrepreneurship at MUSC. Charles D. Smith, Ph.D. smithchd@musc.edu April, 2012. 2010 – 2015 Strategic Plan. Planning Committee. Entrepreneurship Operational Team. Charged with making recommendations for:

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the center for innovation and entrepreneurship at musc

The Center for Innovation and Entrepreneurship at MUSC

Charles D. Smith, Ph.D.

smithchd@musc.edu

April, 2012

entrepreneurship operational team
Entrepreneurship Operational Team
  • Charged with making recommendations for:
    • Culture Change - Stimulate the spirit of entrepreneurship and incorporate a system of incentives.
    • Technology Commercialization - Improve and expand the MUSC tech transfer operation.
  • Reviewed policies and processes at several universities to identify best practices for implementation.
  • Developed a framework for a Business Plan for implementation (with an external consultant).
culture change
Culture Change
  • Suggested revisions to MUSC policies to encourage entrepreneurship
    • Promotion & Tenure
    • Faculty Start-Up Venture Policy
    • Intellectual Property
    • Conflict of Interest
improving processes
Improving Processes
  • Center for Innovation and Entrepreneurship at MUSC (CIE)
    • Will complement existing activities of the Foundation for Research Development (FRD).
    • Commitment of funding from administration.
    • Currently in process of searching for a Director.
cie scope of operations
CIE: Scope of Operations
  • Support enterprise-wide innovation and commercialization.
  • Educate faculty, staff and students in technology commercialization.
  • Mentor prospective and early entrepreneurs.
  • Develop collaborative relationships for promoting technology commercialization state-wide.
  • Identify and facilitate access to new sources of funding for the CIE and spin-out companies.
the new technology commercialization environment at musc
The New Technology Commercialization Environment at MUSC
  • Change in leadership at FRD.
  • Strong commitment from the FRD Board of Directors.
  • Streamlined processes for invention reporting, evaluation and tracking.
  • New resources for supporting entrepreneurship/commercialization through the CIE.
  • Increased commitment to “customer service” in the tech commercialization process.
thanks to
Thanks to:
  • Central Administration
  • Strategic Planning Participants
    • David McNair / Betsy Pilcher
    • Entrepreneurialism Planning Committee
    • Entrepreneurship Operational Team
  • CIE Director Search Committee
  • FRD and FRD Board of Directors
  • SCTR
cie scope of operations1
CIE: Scope of Operations
  • Support University-wide innovation and commercialization.
    • Support commercialization of research innovation, e.g. therapeutics, diagnostics and medical devices.
    • Support commercialization of biomedical educational innovation, e.g. distance education programs.
    • Support commercialization of medical information technologies, e.g. software.
    • Facilitate innovation in the improvement of internal efficiencies, e.g. clinical operations.
slide13

CIE: Scope of Operations

  • Educate faculty, staff and students in technology commercialization.
    • Conduct workshops on general business topics through the Biotechnology Interest Group.
    • Facilitate participation in entrepreneurial training programs, e.g. FastTrac or NxLevel, when appropriate.
    • Facilitate access to on-line resources, e.g. tutorials, webinars, chat groups and focused interest groups.
    • Facilitate open communication to ensure specific guidance on Conflict of Interest issues.
    • Develop processes to assist with grant writing, market research and business plan development.
cie scope of operations2
CIE: Scope of Operations
  • Mentor prospective and early entrepreneurs.
    • Establish an Entrepreneur-in-Residence program.
    • Organize and support a network of experienced business and technology mentors.
    • Provide ongoing support for existing life sciences companies through education and mentoring.
cie scope of operations3
CIE: Scope of Operations
  • Develop collaborative relationships for promoting technology commercialization state-wide.
    • Facilitate interactions with research universities, particularly USC and Clemson University.
    • Facilitate interactions with SC business school MBA programs, particularly CofC and the Citadel.
    • Facilitate interactions with state and regional economic development agencies.
    • Facilitate interactions with industry partners.
    • Develop relationships with regional entrepreneurs, investors, service providers and vendors.
cie scope of operations4
CIE: Scope of Operations
  • Identify and facilitate access to new sources of funding for the CIE and spin-out companies.
    • Facilitate interaction with SCRA/SCLaunch! for early-stage funding.
    • Facilitate submission of SBIR and STTR grant applications.
    • Facilitate interactions with Angel investors, VC groups and pharmaceutical/biotechnology companies.
    • Develop an internal venture fund to support critical proof-of-concept experiments.