Faculty Innovation and Entrepreneurship
We have a number of services and incentives to support faculty who want to pursue innovative and entrepreneurial ideas and to mentor graduate students in their efforts. We also strive to nurture the success of companies based on technology developed at U-M. Our services and incentives include:
- U-M Tech Transfer offers full support for all phases of the patent and licensing process, from disclosure to negotiating licensing opportunities.
- The U-M Venture Center within Tech Transfer provides a one-stop hub for faculty entrepreneurs and investors looking for start-up opportunities based on U-M research.
- The Venture Accelerator provides state-of-the-art laboratories, equipment, and offices for U-M companies emerging from the pipeline of U-M start-ups, as part of the Venture Center’s full suite of services and resources.
- U-M’s Provost encourages recognition of innovation and entrepreneurship in faculty tenure and promotion cases (e.g., working with U-M Tech Transfer to patent or license an invention, launching a start-up company, and mentoring students in entrepreneurial activities).
- Under the Michigan Investment in New Technology Startups Program, U-M invests up to $1 million of university funds in start-ups based on U-M technology, after they have secured initial funding from a qualified venture capital firm.
- The U-M Distinguished University Innovator Award, recognizes the faculty’s important contributions to the economy by moving new innovations into the private sector for public benefit, and by demonstrating entrepreneurial success.
- The U-M Tech Transfer Ted Doan Award for Outstanding Leadership in Entrepreneurship and Innovation is awarded to a deserving individual who has demonstrated a distinguished record of encouraging entrepreneurship and innovation in the state of Michigan.
- Celebrate Invention, the U-M Tech Transfer annual inventor recognition reception, honors faculty who participate in tech transfer activities. Guests include more than 300 business, venture, university, and community partners.
We also invest in infrastructure to support innovation and entrepreneurship. In 2009, we acquired the North Campus Research Complex, a two-million-square-foot array of office and laboratory space. Formerly a Pfizer R&D center, the complex houses a variety of the university’s innovation and entrepreneurship activities, including:
- Space for interdisciplinary teams of U-M faculty to conduct translational research in such areas as health policy, biointerfaces, cardiovascular research, and translational oncology.
- U-M Tech Transfer, the Venture Center, and the Venture Accelerator.
- The Business Engagement Center, which develops and manages relationships with industry partners.
- Facilities for U-M research partners.