Grants and Contracts Details

Description

ABSTRACT The overarching goal of this proposal is to create the Mid-South REACH Hub to accelerate real-world impact of biomedical innovations through entrepreneurial education, mentorship, and financial support for aspiring entrepreneurs. This Hub is critically needed, as much of the Mid-South region is not supported by any REACH Hub, and our consortium includes an extensive network of community colleges and minority-serving institutions who continue to encounter challenges in accessing federal support for innovation and entrepreneurship. The significance of this endeavor stems from the potential to turn academic discoveries into real-world products that can help patients and doctors, and to catalyze a medical innovation economy in states that have a robust, yet relatively untapped, pipeline of innovation but limited resources to translate this innovation into knowledge-based technology industries. Leveraging substantial state and institutional commitments, the Mid- South REACH Hub will exponentially expand its impact and ensure a self-sustaining innovation network. Our approach will extend unique partnerships between a diverse coalition of states and universities across the Mid-South, led by Vanderbilt’s extensive expertise with entrepreneurial education and training and informed by Louisville’s REACH experience in supporting biomedical innovation and development. Our Hub will be led by a diverse and experienced alliance of innovators from each state, all of whom bring unique perspectives, networks, and outstanding experience in innovation, entrepreneurship, and medical research to the team. Together, we will recruit and nurture emerging innovators by providing funding, mentoring, education, and a network of relevant expertise to accelerate the creation of new technologies to improve human health. Our ambitious but achievable approach includes the following Specific Aims: 1. Establish a Collaborative Multi-State Network through a unique shared governance model with diverse leadership and a shared vision, with an emphasis on reducing barriers to and fostering equity and inclusion. 2. Identify, Appropriately Scope, and Fund Teams. Matching funds committed by each state and institution will enable individual entrepreneurs to found companies and bring products to market. 3. Experientially Educate Teams via Mentoring utilizing the resources, ecosystems, and extensive experience of our cohesive and diverse team to provide customized, individual, structured mentoring to all innovators. 4. Ensure the Hub becomes a Self-Sustaining Entity with a model including state and institutional matching funds, subscription models, industry partnering, and direct funding raising to create a seed venture fund. This Mid-South REACH Hub offers unprecedented opportunities for beneficial new healthcare products and economic development, overcoming our region’s disparities to produce de-risked technologies and well- prepared innovators, while establishing a strong and diverse entrepreneurial culture.
StatusActive
Effective start/end date9/25/238/31/27

Funding

  • University of Louisville: $40,000.00

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