HSS Innovation Institute: 360-Degree Support
Ortho Spine News interviews Frank Schwab, MD, Vice Chair of the HSS Innovation Institute, who discussed his recent appointment, the team's infrastructure, work and goals.
“Traditionally, innovation centers were tech transfer locations which would take ideas from its doctors and spin them out or license them. The leadership at HSS has taken a fresh look at that model. First, they have re-envisioned things by investing in a team that is not only competent in the transfer of inside technology, out, but that can take external ideas and startups and help them with sweat equity—assistance with data or engineering, for example. We also take external companies and partner with them. On our team some people are proficient in the licensing arena, while others specialize in patent strategy or funding—all as it relates to the musculoskeletal arena,” explained Dr. Schwab.
Pertaining to his duties as Vice Chair, Dr. Schwab detailed, “When I was asked to join the team it was with the intent that I would drive that mission forward further via building out processes that would more efficiently vet an idea, support it, invest in it, and get it to the point of a spinoff, licensed technology or a partnership with another firm. My initial role has been one of streamlining. We began with examining how someone discloses an idea to us. What question does it answer? What is the regulatory pathway to bring the product or technology to market? Is there something unique that can be patented and if so, what is the patent landscape?”
“This new infrastructure involves an expanding talent pool with patent, regulatory, and business experts, as well as our HSS entrepreneurs in residence. These are outside entrepreneurs who come in for specific projects or to work on startup companies. Over the next year we will be accelerating our engagement with larger industry partners and will be discussing a framework that HSS could use to engage with commercial partners in a fluid fashion—instead of taking things idea by idea,” he cited.
Read the full article at Orthospinenews.com.