It Takes A Village: NIH Product Development Funding As A Part Of The Entrepreneurial Ecosystem-It Takes A Village

Video Transcription

Video Summary

The panel discussion explores various funding and support programs provided by the National Institutes of Health (NIH) for innovators and entrepreneurs in the biomedical field. Speakers discussed how these programs aid in product development through non-dilutive funding, consultations, and other resources.<br /><br />Renee Arnold introduced herself as an Entrepreneur in Residence with NIH's NHLBI, discussing the value of health economics in support of product reimbursement strategies. Ken Nelson, a partner in the MedTech Advantage Fund, emphasized the role of MedTech Innovator, the world's largest accelerator for medical devices and digital health, in offering mentorship and funding. Erica Tyburski from Atlanta's Center for Microsystems Engineered Point-of-Care Technologies highlighted services provided for regulatory and clinical testing and usability studies.<br /><br />Dr. Mohan Tanikachalam shared his experience leading Dynacardia and obtaining significant NIH funding, illustrating the importance of these grants in de-risking startups for further private investment.<br /><br />Julia Berzhanskaya from NIH delved into the specifics of SBIR and STTR programs, emphasizing the structured phases of funding from feasibility studies to market-ready products, and the broader ecosystem NIH offers, including entrepreneur training and various tailored support services.<br /><br />Overall, the discussion underscores the holistic approach NIH takes in fostering innovation from initial ideas through to commercialization, emphasizing collaborations, networking, and accessibility of diverse funding opportunities.

Keywords

NIH funding programs

biomedical innovation

non-dilutive funding

health economics

MedTech Innovator

regulatory testing

SBIR and STTR programs

entrepreneur support