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OSU bids to turn ideas into cash Group to aid Med Center startups

A nonprofit corporation is being launched to develop commercial enterprises for research coming out of Ohio State University Medical Center.

UMC Partners will seek commercial funding for business ventures that would apply science and research from the medical center, said Columbus tech-sector veteran Jeffrey Wilkins, who is serving as UMC Partners’ president and chief executive.

Royalties from those ventures, he said, would go to the university’s research foundation as would some of the proceeds from the sale of startup ventures launched by UMC Partners.

UMC Partners will also work with Ohio State’s Office of Technology Licensing, said Wilkins, best known as the Internet pioneer who in 1969 founded CompuServe in Columbus, one of the world’s first computer online services.

"UMC Partners will be like any other independent organization that might come to the university to license intellectual property," he said. "We feel this will open a series of new opportunities for working with commercial partners."

By Jeff Bell
Business First of Columbus

Full Story: http://msnbc.msn.com/id/8370970/

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