BioEnterprise is a business formation, recruitment, and acceleration initiative designed to grow healthcare companies and commercialize bioscience technologies. Based in Cleveland, BioEnterprise’s founders and partners are Cleveland Clinic, University Hospitals, Case Western Reserve University, Summa Health System and Austen BioInnovation Institute in Akron. Additional technology partners include the NASA Glenn Research Center, Cleveland State University, and BioOhio. The initiative comprises the collective activities of BioEnterprise and its partners’ commercialization offices: Case Office of Technology Transfer, Cleveland Clinic Innovations, University Hospitals Case Medical Center-Center for Clinical Research and BioInnovation Institute in Akron. BioEnterprise is supported by the Fund For Our Economic Future, the Cleveland Foundation and the Burton D. Morgan Foundation.
Client companies include emerging medical device, biotechnology, and healthcare 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.
Since July 2002, the BioEnterprise Initiative has achieved the following results:
- More than 350 companies created, recruited, and accelerated
- More than $2 billion in new funding attracted by these companies
- Over $210 million in revenues collected by technology offices
- Over 540 technology transfer deals concluded with industry partners
- The Initiative has evaluated over 1,900 company opportunities and 3,400 invention disclosures