Henry Ford Innovations either incubates or collaborates with the companies, according to the July 6 article by Brie Riley, director of innovation for the five-hospital system. Through its licensing and incubation model, the health system provides expertise, data and the use of trademarks in exchange for downstream royalties, equity or milestone payments. With collaborations, the health system offers subject matter experts in exchange for cash upfront or at milestones.
“By facilitating interactions between end-users and corporate or startup entities at the earliest stages of development, Henry Ford Health enables these groups to shape the technology in ways that ensure efficacy and relevance,” Ms. Riley wrote.
Henry Ford Innovations also has a large anatomical 3D printer that creates fake body parts for pre-surgery planning and education, works with churches to promote best public health practices, and offers the nine-month Davidson Fellowship for healthcare entrepreneurs, according to the story.
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