These are healthcare companies that are not equity owners. They provide “underwriting” or “sponsorship” financial support for the cost of operating the Lab. These companies will have various benefits based on the level of financial support they provide to the Innovation Lab.
Industry Partner Opportunities
What is an Industry Partnership and what are the benefits?
Industry partners provide financial support to the Innovation Lab in exchange for:
- Branding and marketing recognition at the Lab.
- Co-Development opportunities for new products.
- Access to ideation portfolio for “first look” at investing or partnering on products in pipeline.
- Use of the Lab space for events and meetings.
- Ability to work with tech transfer and Lab team on projects.
- Collaboration opportunities with “Member Systems” and other “Industry Partners”.
- Ability to participate in social ideation, crowd sourcing, and challenges.
- Investment supports economic growth.
Are there naming rights available?
Depending on the amount of the support, there is an opportunity to have the Innovation Lab in Newport Beach named after a sponsoring organization. Recognition for all “industry partners” is available at the Lab as long as the minimum support level is achieved. Naming rights is reserved for a significant support level.
What is the intent of Industry Partnerships?
The Innovation Institute is focused on making a difference in healthcare through innovation. While there are several areas of impact some of the areas include the following:
- Improving lives. Extending human life and improving the quality of life.
- Reducing errors, saving lives, and improving outcomes.
- Cost reduction.
- Improved efficiency for care providers.
The focus of the Lab is on the full continuum of patient care from pediatrics, to adult acute, to senior care.
Are there specific investment opportunities for projects in the portfolio?
There are many investment opportunities but the two most common are:
- Direct co-investment in ideas.
The Innovation Lab mines ideas from physicians and care givers across the US. Many of these ideas have the potential to provide a good return for investors. “Industry Partners” have first look and the opportunity to co-invest in these ideas if interested.
- Co-Development opportunities.
If interested in participating, the “Industry Partners” can participate in “facilitated innovation” sessions and have the opportunity to co-develop products and share in the intellectual property of ideas and products that emanate from the sessions. In the session’s we will bring subject matter experts and facilitators together to solve complex healthcare issues. The Industry Partners can also bring forth specific topics for facilitated sessions if interested.
Structure of Transaction / Contribution:
The structure of the transactions:
- Three to five year commitments.
- Payments are spread over the term of the agreement and paid at beginning of the year.
- Transaction can include both cash and “in-kind” services.
- Transactions are structured to provide for maximum recognition of industry partners.
- We are open to evaluating potential tax benefits of the structure.
The specifics of the transaction can vary depending on the level of commitment and structure of the transaction. Please contact Larry Stofko or Ed Wong if you have questions or interest at 714-735-3751 or firstname.lastname@example.org or email@example.com.