The UM Coulter Program brings biomedical innovations into healthcare through a commercial entity.
The program funds 5-7 projects per year for an average of $100,000 each. Each project must involve a collaboration between U-M faculty from any College of Engineering department and from a clinical department. Each project aims to generate a new medical device, surgical tool, diagnostic assay, or other biomedical tool. Project teams are mentored by a team of experienced industry experts to guide projects to the point of licensing the intellectual property into a start-up company that goes on to raise funding from Angels or Venture Capitalists, or licensing the intellectual property to an existing revenue-generating company.
Specific benefits provided to each Coulter project include:
- New product planning support
- Business development support
- Market Research
- Regulatory guidance
- Follow-on funding guidance
- Mentorship from the Oversight Committee
- The C3i Commercialization Planning Program (see information below or download the C3i Overview Flyer)
- Salary support
- Departmental cost-sharing not necessary
Michigan C3i (Coulter College Commercializing Innovation) Planning Program
The objective of the Michigan C3i Program is to help Coulter proposal applicants build their full proposal and pitch deck, as well as answer three fundamental questions:
- Does their envisioned product address a true unmet clinical need that health care providers and payers are willing to solve?
- Is there a viable business opportunity?
- Will the proposed research de-risk the project to the point of generating investor or industry interest in the product concept?
These are the same questions that the Coulter Oversight Committee will have in mind when evaluating project pitches for funding at the Coulter Project Selection meeting.
C3i is designed to provide Coulter Proposal Teams with the specialized business frameworks and essential tools for successful translation of biomedical technologies from lab to market.
Teams are guided through a series of lectures and interactive exercises, pressure-testing commercial viability of ideas using universal business criteria as well as the unique requirements of biomedical product commercialization. Teams will also work with medical device industry business development directors, outside regulatory and reimbursement consultants, venture capitalists, and IP attorneys who provide insights into the market sector, new product planning, IP, regulatory, and reimbursement requirements specific for their projects.