Overview

BioEnterprise is a business formation, recruitment, and acceleration initiative designed to grow health care companies and commercialize bioscience technologies.  Based in Cleveland, BioEnterprise’s founders and partners are The Cleveland Clinic, University Hospitals, Case Western Reserve University, Summa Health System and BioInnovation Institute in Akron.  The initiative comprises the collective activities of BioEnterprise and its partners’ commercialization offices:  the Case Office of Technology Transfer, Cleveland Clinic Innovations, University Hospitals Case Medical Center - Center for Clinical Research and Summa Enterprise Group.

Companies include emerging medical device, biotechnology, and health care services firms.  Each year, the BioEnterprise groups choose a select number of companies on which to focus.  The resources and networks of the BioEnterprise partners are directed to help those companies achieve greater levels of business success.

BioEnterprise Provides Companies:

• Experienced bioscience management guidance.
• Privileged relationships with world-class research and clinical institutions.
• Access to bioscience venture capital and private equity firms as well as knowledge of grant funding opportunities.
• Business development and alliance support for strategic partnerships.
• Network of regional business capabilities including technical services, equipment, professional service providers, and flexible development space.

Results

Since July 2002, the BioEnterprise Initiative has achieved the following results:

• More than 80 companies created, recruited, and accelerated
• More than $850 million in new funding attracted by these companies
• Over $135 million in revenues collected by technology offices
• Over 300 technology transfer deals concluded with industry partners. 

The Initiative has evaluated over 1,100 company opportunities and 1,900 invention disclosures.