January  23,  2015
MEDICAL  UNIVERSITY  of   SOUTH  CAROLINA Â
Vol. Â 33, Â No. Â 21
Dynamic duo mix business and science Innovative funding ideas give research much needed boost BY  J.  RYNE  DANIELSON Public  Relations
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etween  a  shrinking  budget  and  timid  investors,  researchers  often  find  themselves  caught  in  a  “valley  of  death.â€?  Michael  Rusnak,  executive  director  of  MUSC’s  Foundation  for  Research  and  Development,  knows  just  how  dangerous  this  can  be. “You  get  a  good  start  and  you’re  ready  to  go,â€?  he  said.  “And  next  thing  you  know,  you  need  more  money  to  advance  the  technology,  making  it  more  palatable  for  industry.  You  realize  you’re  too  early  for  the  venture  capitalists  —  they  don’t  fund  innovation  anymore  because  it’s  too  risky  at  this  stage.  And,  you  find  out  industry  doesn’t  want  it  either,  because  you  need  more  data.â€? The  Foundation  for  Research  and  Development  collaborates  with  venture  capitalists  and  entrepreneurs  to  bridge  this  gap.  Passed  in  1980,  the  Bayh–Dole  Act  allows  universities  and  other  public  research  organizations  to  patent  their  discoveries  and  inventions  and  license  them  to  private  companies.  With  funding  from  the  National  Institutes  of  Health  drying  up,  private  industry  is  becoming  increasingly  attractive  to  many  researchers  looking  for  alternate  sources  of  funding. “The  research  world  has  gotten  a  lot  more  competitive,â€?  said  Tom  Finnegan,  director  of  the  Center  for  Innovation  and  Entrepreneurship  at  MUSC,  which  works  closely  with  the  FRD  to  launch  startup  companies  utilizing  the  licensed Â
photo by Dawn Brazell, Public Relations Tom Finnegan, left, and Michael Rusnak spur research and innovation at MUSC.
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MUSC patents ÀOHG LVVXHG licensed and executed since 1995.
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See RESEARCH Â on page 6
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Donors Cure MUSC physician founds organization to help researchers.
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Population Health
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After Hours Clinic opens
A new model for delivering care arrives at MUSC.
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Meet David
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Engagement  Column