By Jim Bakken


The University of Alabama System Board of Trustees approved a proposal for the development of an Institute for Innovation and Entrepreneurship at the University of Alabama at Birmingham (UAB) during its meeting on Feb. 8, 2013.

aerial-campus_sThe UAB Research Foundation (UABRF), which currently manages technology transfer and intellectual property created by the UAB community, will now have an expanded presence and operate as the Institute for Innovation and Entrepreneurship.

In this capacity, the Institute will serve to create and foster an entrepreneurial and innovative ecosystem integrating the UABRF’s existing strengths and capabilities, enhancing and facilitating service and technology commercialization. Further, its mission will include engagement of faculty in creating new classroom and experiential learning opportunities for students across campus, as well as encourage and cultivate interdisciplinary scholarly research and publication among faculty and clinicians, and serve as the resource center for UAB as it continues to advance its role in innovation and entrepreneurship.

“We are excited to announce the approval of the Institute which will further support UAB’s mission to be a leading research university and academic health center that discovers and applies knowledge for the economic benefit of Birmingham, the state and beyond,” said Richard Marchase, Ph.D., vice president for research and economic development at UAB. “As such, the Institute will be dedicated to reaching across disciplines, providing a unified voice and streamlined approach for the efficient and successful launch of innovative ideas and discoveries. We look forward to keeping the UAB community updated as we move forward.”









We guide innovators through
the critical first steps

  • Market research – Analyze competitors, market potential, barriers to entry and regulatory and legal hurdles.
  • Business model – Develop the basic framework, including potential sales and distribution channels, partners and alliances and resource requirements.
  • Assess talent – Assess the experience of team members, identify gaps in skills and identify strategies for filling them.
  • Business plan – Provide coaching, financial expertise and writing support to help develop a plan to attract potential investors.
  • Company formation – Provide guidance on choosing the appropriate form of corporate entity and creating its legal entity.
  • Finance – Explore options and secure initial funding.
  • Launch

And help turn brainwaves into business start-ups.