AMA and IDEA Labs Collaborate to Advance Health Care Innovation
CHICAGO - April 25, 2016 - The American Medical Association (AMA) today announced a new collaboration with IDEA Labs, a student-run biotechnology incubator, to help inspire and support cutting-edge medical technology development from the next generation of young entrepreneurs studying at Washington University in St. Louis, Harvard University, Massachusetts Institute of Technology, University of Pennsylvania and University of Minnesota.
“Innovation is a key driver in making the health system work better for everyone,” said AMA CEO and Executive Vice President James L. Madara, M.D. “The AMA looks forward to working together with Idea Labs to help young entrepreneurs identify and understand key challenges in modern medicine and inspire innovation that will deliver meaningful solutions for patients and physicians.”
“IDEA Labs relies on collaborations with health care providers to create impactful new technologies,” said IDEA Labs Incubator Network President Stephen W. Linderman, M.D.-Ph.D. candidate at Washington University in St. Louis. “We look forward to collaborating with the AMA to spread the IDEA Labs model to more institutions and clinicians. By bringing together top universities across the country, connecting budding companies with the talent, mentors, and investors needed to thrive, this new collaboration will accelerate medical technology development and entrepreneurial education.”
The new collaboration with IDEA Labs underscores the AMA’s expanding role in supporting health care innovation and collaboration. The AMA is now deeply involved in driving transformative health care innovation as the organization ramps up efforts to bridge the gap between creative idea development and the realities of patient care, and forge new paths that expand the bounds of science, enhance patient care and improve the health of the nation.
In addition to the collaboration with IDEA Labs, the AMA’s innovation ecosystem also includes:
- An expanded partnership with MATTER, Chicago's health care technology incubator, to allow entrepreneurs and physicians to collaborate on the development of new technologies, services and products in a simulated health care environment.
- An investment as founding partner to Health 2047, a San Francisco-based health care innovation company that combines strategy, design and venture disciplines, working in partnership with leading companies, physicians and entrepreneurs to improve health care.
Through its ongoing work, the AMA is providing opportunities for physicians to engage in innovation and share their ideas, expertise and real-world perspective on the effectiveness of technology in medical practice settings. From revitalizing medical practices to ensuring that digital health helps provide high-quality patient care, the AMA is striving to help physicians navigate and succeed in a continually evolving health care environment. Working together with IDEA Labs furthers the AMA mission by providing physicians nationwide with additional opportunities to shape the practice of medicine.
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About the AMA
The American Medical Association is the premier national organization dedicated to empowering the nation’s physicians to continually provide safer, higher quality, and more efficient care to patients and communities. For more than 165 years the AMA has been unwavering in its commitment to using its unique position and knowledge to shape a healthier future for America. For more information, visit ama-assn.org.
About IDEA Labs
IDEA Labs is a charitable nonprofit that provides teams of students and clinicians with the resources to solve unmet clinical problems. These medical challenges are gathered by directly querying health care providers. The organization builds interdisciplinary teams of students from the schools of business, engineering, and medicine to solve health care problems through a 9-month program, developing clinic and market validated solutions to those problems. Upon graduating from the program, teams form companies to fully commercialize their solutions. For more information, visit idealabsincubator.org
Media Contacts:
Robert J. Mills
American Medical Association
(312) 464-5970
robert.mills@ama-assn.org
Stephen W. Linderman
IDEA Labs Incubator Network
steve@idealabsincubator.org