Recommend that we identify 2-3 programs and focus our energies on developing them thoroughly. Do not push too many mixed programs. Incubator facility concept for industry is thriving with second building. Provides rental space for start-up companies, both faculty initiated and outside. Provides assistance to set-up corporate, legal entities.
Biomedical companies are primarily diagnostic in nature.
Companies remain in this facility until they are profitable, and then move to another building. Money to support the ventures comes from venture capital. University of Michigan Cancer Center Michigan Cancer Center is considered by many to be a prime example of translational environment and on paper it appears to have all the elements of such facility. Key challenge for us is to ensure such concepts are transferred into practice. Opened in 1997, a nine-story facility is dedicated to performing both basic science and clinical research.