Digital manufacturing company Protolabs
(NYSE: PRLB) and the Cleveland
Clinic Healthcare Innovations Alliance — a network of healthcare
organizations, corporations and universities focused on healthcare
innovation — are collaborating on an awards program to help move novel
healthcare ideas forward.
The new initiative — part of Protolabs’ Cool Idea Award program — will
further assist Healthcare Innovations Alliance members in turning their
innovative ideas into real-world products and devices. Cleveland Clinic
and other alliance members are encouraged to submit ideas to the Cool
Idea Award: Healthcare Grant. Selected winners will be awarded in-kind
manufacturing services from Protolabs to support development, such as
building prototypes or supporting initial production runs, and eventual
commercialization of products.
Idea Award began in 2011 and has granted over $1 million in
manufacturing services to those with promising new product ideas.
“This dedicated funding for the Cleveland Clinic Healthcare Innovations
Alliance is an exciting extension of our award program. The Alliance
shares our commitment to fostering and accelerating innovation, making
the partnership a natural fit,” said Vicki Holt, president and CEO at
Protolabs. “The medical industry makes up one of Protolabs’ largest
segments of customers so we are well-versed in the intricacies of
bringing medical products to market.”
Through the Healthcare Innovations Alliance, Cleveland Clinic
Innovations formally partners with several healthcare institutions and
corporate partners to streamline and scale commercialization efforts.
Current members of the Alliance include Parker Hannifin, MedStar Health,
the Innovation Institute, and SABIC, among others.
“We are excited to welcome Protolabs to our Innovations Alliance
program,” said Pete O’Neill, Executive Director at Cleveland Clinic
Innovations. “Healthcare is changing rapidly, and we must innovate at a
similar pace to improve outcomes for patients everywhere. This
relationship with Protolabs will help the inventor communities across
our Alliance program more rapidly develop and test their solutions, and
ultimately improve patient care.”
Recipients of the Cool Idea Award: Healthcare Grant powered by Protolabs
and Cleveland Clinic Innovations will be chosen twice a year with judges
made up of both Cleveland Clinic Innovations and Protolabs
representatives. Individuals or companies not affiliated with the
Cleveland Clinic Healthcare Innovations Alliance are welcome to apply
for the Cool Idea Award’s flagship program, which accepts applications
four times throughout the year.
Protolabs is the world’s fastest digital
manufacturing source for rapid prototyping and on-demand production. The
technology-enabled company produces custom parts and assemblies in as
fast as 1 day with automated 3D printing, CNC machining, sheet metal
fabrication, and injection molding processes. Its digital approach to
manufacturing enables accelerated time to market, reduces development
and production costs, and minimizes risk throughout the product life
cycle. Visit protolabs.com
for more information.
About Cleveland Clinic Innovations
Innovations (CCI) is the commercialization arm of Cleveland Clinic. CCI
turns breakthrough inventions of Cleveland Clinic and Global Healthcare
Innovations Alliance caregivers into patient-benefiting medical products
and companies. Since it was founded in 2000, CCI has executed over 500
licenses and created 75 spin-off companies that have raised over $1
billion in equity investment and commercialization grants. These efforts
have resulted in the creation of over 1,500 jobs. Visit the company at clevelandclinic.org/innovations.