Commercializing Great Ideas, Discoveries and Capabilities
Wake Forest Innovations is the new commercialization enterprise of Wake Forest Baptist Medical Center, launched in the Fall of 2012 to establish and manage new businesses and partnerships. These new businesses and partnerships are based on innovative products and services arising from the ideas, discoveries and the scientific research assets of Wake Forest Baptist Medical Center, a fully integrated, internationally recognized academic medical center in Winston-Salem, NC.
Innovation Begins with an Idea and Succeeds Through Collaboration
Wake Forest Innovations advances the mission of Wake Forest Baptist Medical Center to improve health care globally through academic, clinical and research excellence by investing in the innovative potential of our academic and clinical communities. By helping to translate ideas and discoveries into valuable commercial products, we work with our partners in industry, government, the financial community and other universities to create the health care innovations and sustainable companies of tomorrow.
Product Innovation and Commercialization Services
Product Innovation & Commercialization Services stimulates and invests in the creation of innovation technology, products and services, and licenses these to existing and start-up companies. This group proactively engages researchers to facilitate product ideation, invention disclosure, intellectual property protection and business planning. Product Innovation & Commercialization Services also financially supports researchers through prototyping and proof of concept studies to translate nascent discoveries into commercially viable products.
The group’s commercialization team is responsible for technology and product licensing to established companies, and it also assists in capital formation, incubation and early development of start-up companies, including those that can locate at Wake Forest Innovation Quarter.
Scientific Business Services
Scientific Business Services is a new business support group that structures, promotes and contracts Wake Forest Baptist Medical Center’s scientific assets to partners under competitive terms. The group directly manages Preclinical Translational Services, which offers surgical services for medical device and procedure testing, and therapeutic testing services. Wake Scientific Services also manages the Center for Applied Learning, a core learning laboratory at Wake Forest Baptist Medical Center that provides experiential, immersive learning services for faculty and partners.
Innovation Quarter Services
Innovation Quarter Services focuses on the continued growth and development of Wake Forest Innovation Quarter as a vibrant, knowledge-based community where people can work, live, learn and play. This group engages in outreach and support to the entrepreneurial community through tenant support, concierge services and space activation programs, and provides the dry-lab and wet-lab incubator space for start-up companies. Innovation Quarter currently houses 10 Wake Forest Baptist departments and more than 30 companies and organizations.