Innovation is the lifeblood of medical advancement and the key to raising the bar for patient care. Unfortunately, the traditional process for medical innovation in the U.S. is fraught with obstacles that hinder development of new ideas, including:
- Skyrocketing costs
- Diminishing venture capital funding
- Complicated regulations and bureaucracy
- Inertia in the academic environment
- Lack of mentorship
- Difficulty obtaining financing
- Pressure to go offshore
That's why Dr. Thomas J. Fogarty founded FII to address these challenges, spur medical device innovation and help early-stage startups get their products to market faster with the vision of lowering healthcare costs and improving patients' lives.
Dr. Fogarty ascribes to the simple philosophy that "there has to be a better way." In addition to spurring his success as an innovator, this belief also inspired him to transform the very process for bringing ideas to fruition through the creation of the Fogarty Institute for Innovation. At FII, we build upon Dr. Fogarty's experience to provide a streamlined path for entrepreneurial innovators working on promising new medical therapies. We offer mentorship at every step of the process, providing access to expert intellectual, physical, and financial resources to propel medical concepts from initiation to application.
The Institute offers two unparalleled programs — Innovation for startups and companies eager to learn how to innovate in the medical device field, and Education for the next generation of inventors. We provide vital support in each area, ensuring new ideas can be realized to improve patient care for all.
Located on the campus of El Camino Hospital, FII includes laboratory and engineering space where physicians and innovators collaborate. Our presence on the hospital campus facilitates collaboration with expert physicians and medical staff, providing the perfect environment to discuss problems and potential solutions to the clinical challenges today's physicians face, as well as the ability to test proven technologies.
Since our inception in 2007, we have received more than 200 requests for assistance from innovators and entrepreneurs. To date, 20 hand-picked applicants have received direct, sustained support from the Institute and five companies have successfully launched.
The Institute is a 501(c)(3) educational nonprofit that relies on charitable donations to carry out its critically important mission.
We promote medical innovation by providing support to promising innovators and researchers as they transform their creative ideas into practical solutions to improve patient care. We offer mentorship and education at every step of the process, coordinating access to intellectual, physical and financial resources to propel medical concepts from initiation to application.
"We strive to create an environment where we can cost effectively develop technology that directly benefits patients."
– Thomas J. Fogarty, MD, Founder, FII
Subscribe to Our Newsletter