FFMI fastPACE

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, delivered completely online, 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

Fall 2022 FFMI fastPACE Dates:

(All times are Eastern Standard Time)

Friday, October 7: In-person Kickoff Event, 12:00pm – 4:30pm

Friday, October 14: Virtual Checkpoint,  3:00pm – 4:30pm

Friday, October 21: Virtual Checkpoint,  3:00pm – 4:30pm

Friday, October 28: Virtual Checkpoint, 3:00pm – 4:30pm

Friday, November 4: No Class

Friday, November 11: Virtual Final Event, 12:00pm – 4:30pm

Registration will be available soon.

Questions?

Contact Jon Servoss, FFMI Director of Commercialization Education, at 734-764-2692 or servossj@umich.edu.

May 3, 2022
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