From nurturing companies in a world-class research environment to providing hands-on experiences for students, the Helix 51 incubator in the Innovation and Research Park fosters the growth of early-stage startups.
At the heart of Helix 51, entrepreneurs have access to two vital opportunities beyond the labs and costly scientific equipment that biopharma, diagnostic and medical device companies require: the Entrepreneurs-in-Residence (EIR) and student internship programs.
“Opportunities that exist in the incubator are much more than simply research spaces for companies,” said Executive Vice President for Research Ronald Kaplan, PhD. “It’s providing the right environment and mentorship to help a company succeed. Nationally, we know that early-stage companies coming out of incubators versus stand-alone companies have a much higher percentage success rate because of the training and support they receive.”
RFU recently secured a generous grant from The Grainger Foundation, an independent private foundation based in Lake Forest, Illinois, to support the EIR and student internship programs. The foundation has a legacy of providing educational pathways, health care and workforce support.
Through its investment, the foundation is helping Helix 51 launch novel companies with products to hopefully one day benefit patients.
“These are particularly exciting programs that exemplify what funding can do in the community,” said Julia Wold, vice president of The Grainger Foundation. “The ongoing mentorship and research contribute to positive outcomes in health care, plus it provides foundational training that supports workforce and educational pathway opportunities.”
The EIR program recruits professionals in key areas of expertise to navigate the complex business and regulatory landscape with the goal of taking a potential product to the marketplace. This includes areas of intellectual property, FDA regulatory compliance, legal counsel, raising funds and business plans.
Researchers also draw on support from the robust student internship program, which has long-standing recruitment from RFU’s College of Pharmacy and, more recently, students from the surrounding area.
RFU incubator companies conduct medical research on cancer, autoimmune disorders, gastrointestinal infections, diabetes and more. Combining the EIR and student internship program, researchers can systematically work toward goals of FDA-approved clinical trials to increase the odds of their success. Students benefit from the program by gaining insights about product development and industry job opportunities.
“We want companies and students to succeed,” said Dr. Kaplan. “From this work, the goals are to improve human health.”
Amy Knutson Strack is director of advancement communications in the Office of Institutional Advancement.