Michigan State University Health Sciences, the academic medical centre of Michigan State University, and the health system Henry Ford Health have launched the life sciences-focused Innovation Hub.
The Innovation Hub includes a $10 million fund, backed by Michigan State University, its MSU Research Foundation and Henry Ford Health.
The money, which will be deployed over five years, has been described as the “initial” capital, but a press release offered no insight into the fund’s target size.
The Innovation Hub builds on an existing partnership between Henry Ford Health and Michigan State University Health Sciences, created in 2021. A research facility is set to open in Detroit in 2027 to narrow the gap between basic and translational research.
The Innovation Hub will focus on areas including digital health, artificial intelligence, medical devices, diagnostics, care delivery and clinical workflow.
Apart from making investments, the hub will also give entrepreneurial support, such as customer discovery and validation. Additionally, it will offer clinical expertise through subject matter experts for real-world evidence and data, and provide access to pilot and clinical trial sites.
“This is so much more than investing in startups — we’re truly investing in the future of patient care. The Innovation Hub represents a bold step toward, transforming breakthrough ideas into real-world solutions that will shape the next era of medicine right here in our own ecosystem. Good health doesn’t just mean medicine and doctor’s appointments — it means innovation, exploration and discovery, too.”
Bob Riney, president and CEO, Henry Ford Health
The three partners hope the Innovation Hub will lead to the launch and scaling of more high-potential startups, facilitate public-private partnerships, and cultivate talent and infrastructure, including by supporting clinicians and faculty in translating their research, to bolster Michigan’s life sciences and innovation ecosystem.
“Bringing new innovations to market is incredibly complex. It takes deep domain expertise, strategic partnerships, capital, and relentless execution to navigate the path from idea to impact. Our teams have long-standing track records of doing just that: turning promising innovations into market-ready solutions that improve lives and deliver real value.”
Kevin Guskiewicz, president, Michigan State University