Biomedical Innovation Laboratory
The Biomedical Innovation Laboratory (BIL) was founded in 2004. We develop new processes and mechanisms to catalyze innovation and technology commercialization through the development of selected intellectual property for biomedical applications. In addition to working with people and departments from throughout the university, we collaborate closely with Baystate Health Systems and the Pioneer Valley Life Sciences Institute.
BIL addresses the need for research into new models and approaches to commercialization as well as the growing need for science, engineering and management students with practical and scholarly knowledge of innovation and commercialization. Demand for such students motivates our M.B.A. practicum projects as well as related efforts of the management team such as the technology business planning course and the Engineering Management Minor.
Our Approach
Novel technology is only one of the essential ingredients in successful innovation and technology commercialization. Of equal importance to success are numerous business issues including selection of appropriate early opportunities based on assessment of markets and competition; management of intellectual property right issues; business model development; well negotiated financing; expeditious development of a marketable initial product or service; formation of a capable management team; and sound business planning. Thus, with our technical partners we treat science, engineering and business considerations as an integrated system.
For further information please contact:
Professor Soren Bisgaard
Telephone: 413-545-5621
Email: bisgaard@som.umass.edu