One of the main focuses of the Texas Medical Center (TMC) continues to be fostering an increase in the development and commercialization of breakthrough research being conducted in Texas. Last October, the TMC hosted the 2nd Annual Vaccine Biotechnology Conference, which focused on the need for further commercial participation in the development of much-needed vaccines. More recently, the Center adjusted its not-for-profit status in order to attract for-profit businesses to its campus and encourage medical technology development. Now, the Texas Medical Center is taking a further step into accreting commercialization in the Texas biotech industry.
The TMC recently announced that it has just launched a biotech and life sciences accelerator program designed to provide promising startups clinical access to a prestigious network of 21 internationally-recognized hospitals, accomplished mentors, and a new, open work space to develop and exchange ideas for the improvement of patients’ lives. Dubbed TMCx, the new initiative and facility are both a part of the Texas Medical Center’s Innovation Institute, and is housed in a 100,000 square foot, cutting-edge facility.
Robert C. Robbins, the President and CEO of TMC, said that innovation and commercialization are the center’s chief priorities. Over the past 5 years, they have received nearly $4 billion in research grants, which continue to help catapult research findings for novel medical device concepts into being successfully developed and commercialized. Additionally, TMCx will provide startups with training, access to business and legal experts, and a network of potential investors that will not only strengthen ongoing research and development, but prepare them for quality long-term operations as they begin to make marks in the pharmaceutical and biotech scene.
The launch of TMCx is one of the first programs from the Innovation Institute that fosters the role of out-of-the-box entrepreneurship and innovation in today’s healthcare. This 6-month accelerator program is now open to applicants. The inaugural accelerator class is scheduled to start January 2015.