Impact 2020

A Year in Biomedical Commercialization at the University of Michigan

Fast Forward Medical Innovation (FFMI) offers funding, education, and business development resources to help biomedical researchers navigate the road to successful innovation and commercialization. From entrepreneurial organizations on campus to partners in Michigan and across the globe, we are creating an environment and culture that nurtures technologies and supports life sciences.

In 2020, FFMI kicked off the Frankel Innovation Initiative – a $20 million gift from the Maxine and Stuart Frankel Foundation to support the research and development of life-saving therapies at Michigan Medicine. In the inaugural round, four projects were awarded a combined $3.3 million in funding.

Fiscal Year 2020 metrics reflect activity across the U-M Medical School

241

Invention Reports

2019: 226
2018: 235
2017: 175

$115.1M

Industry Research Awards

2019: $118.4M
2018: $110.2M
2017: $101.0M

16

New Business Startups

2019: 11
2018: 7
2017: 5

166

License/Option Agreements

2019: 114
2018: 112
2016: 84

1,304

Industry Award Count

2019: 1,226
2018: 1,279
2017: 1,186

$20M

Frankel Innovation Initiative

fund to support biomedical research projects that have the potential for rapid clinical application and groundbreaking impact

COMMERCIALIZATION EDUCATION

$20M+

Follow-on Funding

awarded to date for teams that have gone through an FFMI education program

29+

Commercialization Education Programs

serving biomedical innovators across the University of Michigan, and across the state, region, and nation

3,500+

Participants

enrolled in Commercialization Education programs to date

38

New Innovations

from project teams across the University of Michigan, and across the state, region, and nation

31

Institutions

across the state, region, and nation (outside of the University of Michigan) that have participated in FFMI fastPACE

FUNDING & MENTORSHIP

$2M

Annual MTRAC for Life Sciences Innovation Hub Funding

statewide

10

Mid-Stage MTRAC

projects funded in 2020

6

Early-Stage Kickstart

projects funded in 2020

$64.5M

Follow-on Funding for MTRAC

since 2014 launch

29

MTRAC Startups

since 2014 launch

MICHIGAN BIOMEDICAL VENTURE FUND

10

Michigan Biomedical Venture Fund

portfolio companies since launch

9 out of 10

Companies

have received follow-on funding/co-investments

19:1

$19 of Follow-On Funding

for every $1 of Michigan Biomedical Venture Fund

$30.7M

Total Follow-On Funding

for all companies combined

QUESTIONS?

Have questions about biomedical innovation at the University of Michigan? Contact Fast Forward Medical Innovation at ffmioffice@umich.edu or call (734) 615-5060.

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