Skip to Navigation
University of Pittsburgh
Print This Page Print this pages

April 29, 2004

Office to Focus on Entrepreneurial Development

Pitt has formed a new organization to promote and manage entrepreneurial and business development opportunities that come from scientific research taking place across the full spectrum of the University’s six schools of the health sciences.
Carolyn E. Green, former director of the Limbach Entrepreneurial Center (LEC) at the University of Pittsburgh Cancer Institute, is leading the new Office of Enterprise Development, which is part of the Pitt’s Office of the Senior Vice Chancellor, Health Sciences. Existing LEC operations will become an operating unit within the new organization with expanded services for faculty in the schools of medicine, dental medicine, nursing, health and rehabilitation sciences, pharmacy and public health. A Center for Business Development focusing on industry interactions also will be a part of the new office.
A native of Pittsburgh and a 1987 Pitt graduate, Green said she relishes expanding her strategic focus on commercialization.
“We have an unprecedented opportunity to increase our impact locally and throughout the global life sciences community,” she said. “This new office will expand faculty-centered commercialization activities now available through the LEC and combine them with a proactive, industry-focused business development initiative.”
The new effort will continue to develop programs to support an entrepreneurial culture in the scientific community that is poised to take advantage of commercialization opportunities while remaining vigilant with respect to potential conflicts of interest, Green added.
“Mining these scientific discoveries for the unique business opportunities they represent is a natural progression for us that benefits not only the University, but the region as a whole,” said Arthur S. Levine, senior vice chancellor, health sciences, and dean of the School of Medicine. “Research discoveries in the health sciences have the potential to move beyond the scientific community to ultimately improve human health. However, given that the average cost to bring a new drug to market is $800 million, it is imperative for academic medical centers such as the University of Pittsburgh to partner with industry for drug discovery.”

Leave a Reply