This program focuses on development, testing, prototype construction or market analysis of innovative technologies originating from one of the four campuses. The FastTrack program has contributed significantly to the development and commercialization of some exciting technologies in such areas as cancer detection, blood glucose monitoring, environmental protection, and vector signal measurement.
Based on the program’s success, the UM System has reinstated this program with $500,000 because of the effectiveness and the economic benefits it has provided. FastTrack II launched in January 2013.
“FastTrack funding allowed us to perform an independent market survey with both Electronic Health Record (EHR) vendors and large health systems to help us determine market demand and product pricing. We also leveraged developers to build out linkages to some of the best treatment calculators and protocols. This funding allowed us to quantify some of the benefits of our system, which include time savings for providers and medical error reductions.”
— Karl Kochendorfer, MD, FAAFP
To date, this program has resulted in
36 publications and presentations
2 invention disclosures
4 patent applications
7 license agreements
1 option agreement
5 startup companies
1 new incubator tenant
$900,000 in venture funding
$287,000 in grant funding
For more information on the FastTrack Funding Program, click here.