Protolabs Cool Idea Award Teams up with Cleveland Clinic Innovations
April 23 2019 - 9:00AM
Business Wire
Program will enable members access to grant
funding and on-demand manufacturing services for med devices
Digital manufacturing company Protolabs (NYSE: PRLB) and the
Cleveland Clinic Healthcare Innovations Alliance — a network of
healthcare organizations, corporations and universities focused on
healthcare innovation — are collaborating on an awards program to
help move novel healthcare ideas forward.
The new initiative — part of Protolabs’ Cool Idea Award program
— will further assist Healthcare Innovations Alliance members in
turning their innovative ideas into real-world products and
devices. Cleveland Clinic and other alliance members are encouraged
to submit ideas to the Cool Idea Award: Healthcare Grant. Selected
winners will be awarded in-kind manufacturing services from
Protolabs to support development, such as building prototypes or
supporting initial production runs, and eventual commercialization
of products.
Protolabs’ Cool Idea Award began in 2011 and has granted over $1
million in manufacturing services to those with promising new
product ideas.
“This dedicated funding for the Cleveland Clinic Healthcare
Innovations Alliance is an exciting extension of our award program.
The Alliance shares our commitment to fostering and accelerating
innovation, making the partnership a natural fit,” said Vicki Holt,
president and CEO at Protolabs. “The medical industry makes up one
of Protolabs’ largest segments of customers so we are well-versed
in the intricacies of bringing medical products to market.”
Through the Healthcare Innovations Alliance, Cleveland Clinic
Innovations formally partners with several healthcare institutions
and corporate partners to streamline and scale commercialization
efforts. Current members of the Alliance include Parker Hannifin,
MedStar Health, the Innovation Institute, and SABIC, among
others.
“We are excited to welcome Protolabs to our Innovations Alliance
program,” said Pete O’Neill, Executive Director at Cleveland Clinic
Innovations. “Healthcare is changing rapidly, and we must innovate
at a similar pace to improve outcomes for patients everywhere. This
relationship with Protolabs will help the inventor communities
across our Alliance program more rapidly develop and test their
solutions, and ultimately improve patient care.”
Recipients of the Cool Idea Award: Healthcare Grant powered by
Protolabs and Cleveland Clinic Innovations will be chosen twice a
year with judges made up of both Cleveland Clinic Innovations and
Protolabs representatives. Individuals or companies not affiliated
with the Cleveland Clinic Healthcare Innovations Alliance are
welcome to apply for the Cool Idea Award’s flagship program, which
accepts applications four times throughout the year.
About ProtolabsProtolabs is the world’s fastest digital
manufacturing source for rapid prototyping and on-demand
production. The technology-enabled company produces custom parts
and assemblies in as fast as 1 day with automated 3D printing, CNC
machining, sheet metal fabrication, and injection molding
processes. Its digital approach to manufacturing enables
accelerated time to market, reduces development and production
costs, and minimizes risk throughout the product life cycle. Visit
protolabs.com for more information.
About Cleveland Clinic InnovationsCleveland Clinic
Innovations (CCI) is the commercialization arm of Cleveland Clinic.
CCI turns breakthrough inventions of Cleveland Clinic and Global
Healthcare Innovations Alliance caregivers into patient-benefiting
medical products and companies. Since it was founded in 2000, CCI
has executed over 500 licenses and created 75 spin-off companies
that have raised over $1 billion in equity investment and
commercialization grants. These efforts have resulted in the
creation of over 1,500 jobs. Visit the company at
clevelandclinic.org/innovations.
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version on businesswire.com: https://www.businesswire.com/news/home/20190423005063/en/
ProtolabsAbbie Siljendahl,
612-225-4822abbie.siljendahl@protolabs.com
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