Abstract
New technology emerging from academic medical centers [AMCs] needs to be embodied in the form of a commercial product to be available to patients. Venture capital funded startups play a key role in paving the road to market, usually through the intermediacy of a large healthcare supplier. Traditionally, the economic participation of AMCs in the commercialization of their intellectual property has been limited to license agreements. Partners HealthCare System has gone a step further through the creation of a venture capital function, dedicated to founding and funding new companies formed around technologies emerging from their own research community. Direct equity investment offers the potential for greater return on innovation if the process is managed carefully to ensure an appropriate balance of risk and reward.
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Tompkins, R.G., Alexander, A.K., Berke, C.M. (2019). Creating ROI: Return on Innovation-the Partners Model. In: Cohen, M., Kao, L. (eds) Success in Academic Surgery: Innovation and Entrepreneurship. Success in Academic Surgery. Springer, Cham. https://doi.org/10.1007/978-3-030-18613-5_15
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