The COMassist program was established in 2021 by Dr. Michael Flavin to help bring University of Illinois College of Medicine technologies into commercialization. Translating the many discoveries that have been and are being made by faculty members and their students into products, services, and technologies that address unmet medical needs and help patients is a major goal of the COMassist program. These can take the form of novel therapeutics, medical devices, healthcare informatics and medical diagnostics. The assistance provided by Dr. Flavin includes entrepreneurial education, mentoring and support for technology licensing, and company start-up.
What we Accomplished Heading link
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9 Startups launched with UI College of Medicine faculty
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4 Existing faculty-led spinouts from UI college of medicine being assisted
Support to Faculty-led Teams Heading link
The COMassist program offers detailed support to faculty-led teams in the following areas:
- evaluation of technologies in development
- incorporation of start-up companies
- advice and assistance with building the company team
- assistance with in-licensing the inventor’s intellectual property from the University
- implementation of technology development plans
- preparation of investor pitch decks
- assembly and submission of appropriate grant proposals such as SBIR and STTR proposals
- preparation and mentoring for meetings with investors
- location and leasing of appropriate office and laboratory space
- matching up the legal, financial and administrative support necessary to run the business
- contracting with the CROs, CMOs and professional consultants needed to advance the technologies toward regulatory approval and commercialization
- identifying and negotiating with potential strategic partners that can assist in the commercialization journey.
Collaboration Heading link
The COMassist program often collaborates and coordinates with other University of Illinois innovation groups such as Discovery Partners Institute, Innovation Center at UIC, Office of Technology Management at UIC, Office of Technology Management at UIUC, Illinois Ventures, Illini Angels, Office of the Vice Chancellor for Innovation at UIC to bring additional training and resources to COMassist portfolio companies.