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The CTC received more than 200 new technology disclosures in FY12, up from 118 in 2011 and 93 in 2010. The significant increase is due in large part to two CTC initiatives. A concerted effort was made to increase outreach to Cincinnati Children's investigators to understand their current research efforts and share the benefits of commercialization. Additionally, a collaboration between Cincinnati Children's and Ben-Gurion University (BGU) in Israel was launched generating a number of new technology opportunities. This partnership takes the strengths of two world-class entities and creates unprecedented opportunity for new and innovative pediatric medical devices to enter the market expeditiously. The relationship is based on an online collaboration platform that allows Cincinnati Children's physicians and surgeons to share specific challenges with BGU engineers who can then develop technical solutions.
Cincinnati Children's investment into and formal launch of the Innovation Fund—a pre-seed fund created to advance the development of Cincinnati Children's technologies toward the commercial market—speaks to the institution-wide culture of innovation developed and fostered here. The Innovation Fund, managed by the CTC, announced the first round of funding totaling $500,000. The funding will support six projects and help lead investigators bring their technologies closer to the commercial market and ultimately closer to improving child health. The Innovation Fund, which provides up to two years of funding for projects, will take applicants annually and plans to award approximately $1 million each year.
This year, the CTC was the first non-faculty division at Cincinnati Children's to undergo the Scientific Advisory Committee (SAC) Review. This annual review evaluates how well selected Research Foundation entities are performing in key areas of basic and clinical research, education, clinical care and advocacy. The SAC Review confirmed the direction the CTC is heading and identified several areas for growth. Notable goals include creating funding mechanisms to accelerate the development of commercializable technologies; increasing outreach and engagement with industry for licensing and strategic alliances; improving communication and education within Cincinnati Children’s; and expanding CTC resources by adding personnel.
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