SHI primarily focuses on development and launch of promising new health care products and technologies, such as medical devices, surgical tools, nursing products, hospital equipment, therapy equipment and software. However, if you have an idea and are not sure if it is a fit for SHI, we encourage you to get in touch to discuss what you have in mind.
Pursuing a product or technology idea commonly requires a substantial investment of time, energy and resources, so SHI uses a rigorous process to determine which ideas to pursue, exploring clinical, business, and technical aspects to the idea. In a given year, SHI explores many more ideas than it can feasibly move forward, so the team aims to build a balanced portfolio of projects where the potential clinical or business benefits outweigh the investment required.
SHI’s primary focus is on exploring and developing ideas that are generated by Spectrum Health physicians and staff.
SHI aims to explore ideas in tandem with the staff members who submit those ideas, so ideally coming to the conclusion not to pursue an idea is a mutual discovery. However, SHI does work with employees so that they can potentially still pursue their idea if SHI is not able to dedicate time or resources to it.
Anyone who has launched an idea for a new health care product or technology has likely found the endeavor to require a large amount of time, energy, resources, and dollars. However, SHI exists to help advance promising ideas of Spectrum Health physicians and staff at no risk to that employee, as SHI helps explore and advance the idea together with the employee. Additionally, if the idea becomes commercialized, that employee may be eligible to share in up to 50% of the revenue generated after expenses are recouped, per Spectrum Health’s Intellectual Property Policy
Employees may be eligible to share up to 50% of revenues of a commercialized technology after expenses are recouped, per Spectrum Health’s Intellectual Property Policy
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SHI is a resource to help explore and develop promising health care product and technology ideas.
More specifically, Spectrum Health Innovations is skilled in assessing new product and technology ideas; performing business analysis, intellectual property assessment, customer and stakeholder validation and competitive research; developing prototypes; launching products; forming start-ups; early stage investing; and intellectual property licensing.
Spectrum Health Innovations and its legal colleagues can help review your idea and potential patentability with you. However, key criteria in attaining a patent are how novel and non-obvious the idea is, in light of other similar disclosed ideas.
Spectrum Health Innovations, LLC is wholly owned by Spectrum Health.
SHI serves as Spectrum Health’s link to the greater entrepreneurial and product development community, often collaborating with entrepreneurs, investors, product development firms, universities, business and technology incubators, software developers and attorneys.
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