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HIGHLAND HEIGHTS, Kentucky — The Northern Kentucky University (NKU) Institute for Healthcare Innovation recently received $109,618 in grant funding from the Economic Development Administration as part of a five-year project totaling $1,096,180.
The project will include the launch of the NKU Center for Health Entrepreneurship and Innovation (NKU-CHEI) and the expansion of the NKU Collaborative for Economic Engagement, a central innovation hub with shared one-stop services for businesses and entrepreneurs.
NKU-CHEI will leverage the recently funded Life Science Wet Lab in Covington, regional economic development agencies and entrepreneurship programs, regional health systems and health-related industries, and NKU’s technical expertise to advance commercialization efforts. It will also increase regional bioscience innovation and develop new medical and health-related businesses in northern Kentucky by transferring Doug Ladd, Entrepreneur in Residence (EIR) to the Health Innovation Institute to support wet lab customers . Ladd has helped regional medical device and health-related founders raise more than $335 million in the capital over the past 30 months.
“Expanding the Collaborative will provide the bandwidth needed to increase the impact of health innovation in our region,” said Dr. Valerie Hardcastle, executive director of St. Elizabeth Healthcare of the Institute for Healthcare Innovation. “The grant will enable additional support for many of the programs currently housed at the Collaborative, create new life sciences internship opportunities, fund scholarships for NKU’s online clinical research and healthcare commercialization degrees, and launch the NKU- CHEI, which will connect these bioscience and health-related entrepreneurs with the tools they need to thrive: knowledge, data, talent and capital.”
The EDA University Center grant will enable NKU’s Institute for Health Innovation to nurture the region’s health entrepreneurship ecosystem through commercialization mentoring; targeted entrepreneur support programs to develop the founder’s skills; applied research in economic development; and workforce training in STEM, health and entrepreneurship.
To learn more about the NKU Institute for Health Innovation, click here.
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