Prisma Health and Clemson University Announce Innovation Maturation Fund Partnership

Staff Report From South Carolina CEO

Wednesday, July 10th, 2019

Two leading South Carolina organizations have launched a new investment fund designed to boost health care innovation in the state. The Clemson University Division of Research and the Health Sciences Center (HSC) at Prisma Health recently signed agreements to fund up to $200,000 per year in grants through the new Innovation Maturation Fund.

The health care-focused grants are intended to advance the development and implementation of new medical initiatives, advance translational science, create job and educational opportunities, improve health care and drive economic growth in the region.

“This is an important step to support health sciences research in our state,” said David Sudduth, vice president and chief operating officer of the Health Sciences Center at Prisma Health. “While we have a strong history of academic, research and innovation partnership in the Upstate through the Health Sciences Center, this is the first of what we hope will be many grant-making opportunities designed with our academic partners in order to support our community.”

“Pairing Clemson University’s health research and bioengineering capabilities with Prisma Health’s industry-leading clinical environment provides an incredible opportunity for the development of medical technologies and initiatives that will improve health care for South Carolinians and many others,” said Tanju Karanfil, Clemson University vice president for research. “I am excited to see the ideas and impactful innovations that stem from this partnership.”

The fund will be managed by the Clemson University Research Foundation (CURF), which manages the process of moving Clemson’s hundreds of innovative technologies from the laboratory into commercial markets. CURF has awarded more than $870,000 in maturation funds to Clemson researchers across academic disciplines since the launch of a similar fund in 2014. Those funds have led to startup companies, new technologies available for license and follow-on research investments.

The new Innovation Maturation Fund — launched in cooperation with the HSC and Prisma Health — is the first such fund targeted exclusively toward researchers in the health sciences.

“We look forward to working with Prisma Health to leverage this fund to advance promising medical technologies from ideation through initial phases of translational product development,” said Chris Gesswein, executive director of CURF. “By identifying and targeting unmet clinical needs early in the research process, we have a wonderful opportunity to impact successful downstream commercialization of technologies developed and matured through this Innovation Maturation Fund.”