NUvention: Medical Innovation Vignette

BME-IDEA 2009

October 7, 2009

Fall and Winter Quarters – September-March 8-10 Clinical Teams 2 Students from each of four schools:

– Business/Kellogg-2nd Year Students– Engineering/McCormick-MS or PhD students– Medical/Feinberg-M4’s– Law-Second or Third Years

Teams built around med student’s specialty interests

Faculty Steering Committee representing 4 schools-each oversee 1-2 teams

Subject matter experts leveraged from each school depending on team focus areas

Program Format

Unique Features

Med Device Industry Advisory Board that actively participates in program and judges Opportunity and Final Pitches– Analogic, Baxter, Boston Scientific, Covidien, Edwards,

J&J, Lake Regions, Greatbatch, Moog/Curlin– Each contribute $25K annually to fund program– Each team has up to $10K for costs

Full product and business development cycle experienced

Real corporations created and provisional patents filed by each team which are graded exercises

Challenges

Combining cultures and administrative differences of four separate schools– Med school students on pass/fail while all others get grades– Separate campus’ so program location alternates– Faculty teaching credit also varies by school

Lectures/Discussion need to be relevant to each student– Finance discussion needs to be relevant for a Kellogg

student that is a former venture capitalist and Feinberg/Medical student that does not know what a price/earnings ratio is.

– Many topics switched from lecture to team meetings where students with expertise teach each other with faculty present to assess.

Example

NEURDS, INC. – Neurosurgery Team 2008/9

-Wireless power technology for implantable devices

-Completed Series “A” round in August 2009