LOS ANGELES, Sept. 13, 2011 /PRNewswire-USNewswire/ -- Johnson & Johnson and the USC Stevens Institute for Innovation announced today the Johnson & Johnson - USC Translational Innovation Program, designed to more rapidly develop early stage health science and medical technologies. Johnson & Johnson's Corporate Office of Science and Technology (COSAT) will provide $250,000 over two years. The program will kick-off in the fall of 2011.
The USC Stevens Institute will lead a joint USC / JNJ COSAT review committee to identify groundbreaking ideas developed by USC's faculty for funding through this program. The program is structured to create a collaborative environment between academic and industry peers.
Johnson & Johnson is USC Stevens' first industry partner to pioneer this collaborative approach for emerging technology advancement.
"We are excited to be able to harness the scientific and operational expertise from Johnson & Johnson for this new approach to technology development. We believe this is an excellent model for engaging industry partners, which is critical to achieve our goal of helping USC innovators turn their breakthrough ideas into real societal impact," said Krisztina "Z" Holly, Vice Provost for Innovation at the University of Southern California and Executive Director of the USC Stevens Institute for Innovation.
About the USC Stevens Institute for Innovation
The USC Stevens Institute for Innovation (http://stevens.usc.edu) is a university-wide resource in the Office of the Provost at the University of Southern California that helps identify, nurture, protect, and transfer to the market the most exciting innovations from USC. It also provides a central connection for industry seeking cutting-edge innovations in which to invest. As part of this role, the USC Stevens Institute manages the university's intellectual property portfolio stemming from its $560M annual research program. Furthermore, the USC Stevens Institute develops the innovator as well as innovations, through educational programs, community-building events, and showcase opportunities.
For more information on COSAT, visit www.jnjcosat.com/cosat.
Media Contact: Ian Murphy
SOURCE USC Stevens Institute for Innovation