Announcing a new track for our partners in the GI division of Internal Medicine at U-M for Spring 2024! All projects are still welcome to apply.
FFMI fastPACE is a project-based, experiential course designed to help academics launch new innovations, including medical devices/diagnostics, digital solutions, drugs, educational/training interventions, research tools, and many others.
The multi-week course matches innovators with expert teaching team members for guidance on the development of a business case for adoption, implementation, or commercialization.
Graduates of the course have gone on to use their business case to forge new development partnerships, secure funding, and extend their network of support.
The Format
Kickoff Session: The introduction of basic innovation concepts and business case development, including the construction of a value proposition, testing and validating assumptions with customer/stakeholder discovery, and communicating the vision for the innovation through problem identification.
Check-point Webinars: Weekly check-point webinars and office hours are built into the program to check your understanding of critical development concepts – such as conducting a market analysis, basic revenue/sustainability model, intellectual property, regulatory considerations, and others – in advance of project team presentations.
Final Session: Project teams finish the course by delivering a final business case presentation – including all the concepts taught as a weekly progression during the course – for constructive feedback and identification of next step resources.
- Problem Identification
- Proposing the Solution
- Identified Stakeholders/Customers
- The Value Proposition
- Preliminary Market Analysis
- Revenue Model/Medical Reimbursement
- Intellectual Property
- Regulatory Considerations
- Development Timeline & Resources
The Innovators
The course has helped many life science innovators, including faculty clinicians and researchers, administrative staff, and medical and life science trainees from within the University of Michigan, across the state, region, and nation.
350+ Projects Supported
800+ Graduate innovators
33 Different academic institutions and health systems represented
$40 Million graduate project funding
Course Results
Since 2014, the FFMI fastPACE course has supported the development of many innovations and project team members. Long-term results include the successful implementation, license, or business startup for many course graduates. More immediate results include:
- Securing development funding (e.g., translational research funds, innovation grants, pitch competitions, etc.)
- Finding development partners (e.g., prototyping, testing, business, etc.)
- Becoming integrated with a vibrant innovation ecosystem of resources at the University of Michigan
Enrollment
Registration Deadline: Wednesday, October 4
Fall 2023 FFMI fastPACE Dates:
(All times are Eastern Standard Time)
Friday, October 13: Virtual Kickoff Event, 12:00pm – 4:30pm
Friday, October 20: Virtual Checkpoint, 3:00pm – 4:30pm
Friday, October 27: Virtual Checkpoint, 3:00pm – 4:30pm
Friday, November 3: Virtual Checkpoint, 3:00pm – 4:30pm
Friday, November 10: No Class
Friday, November 17: Virtual Final Event, 12:00pm – 4:30pm
Registration Deadline: Wednesday, May 1
Spring 2024 FFMI fastPACE Dates:
(All times are Eastern Standard Time)
Friday, May 10: Virtual Kickoff Event, 12:00pm – 4:30pm
Friday, May 17: Virtual Checkpoint, 3:00pm – 4:30pm
Friday, May 24: Virtual Checkpoint, 3:00pm – 4:30pm
Friday, May 31: Virtual Checkpoint, 3:00pm – 4:30pm
Friday, June 7: No Class
Friday, June 14: Virtual Final Event, 12:00pm – 4:30pm
Questions?
Contact Jon Servoss, FFMI Director of Commercialization Education, at 734-764-2692 or servossj@umich.edu.