In a powerful new partnership to boost medical innovation, Henry Ford Health and Michigan State University (MSU) Health Sciences have launched a cutting-edge Innovation Hub in Detroit, backed by a $10 million venture fund.
This initiative is designed to support early-stage health tech startups and accelerate the development of breakthrough solutions in digital health, medical devices, and AI-powered healthcare.
A New Era for Healthcare Innovation
The Innovation Hub will serve as a central platform for transforming novel healthcare ideas into scalable businesses. It will provide:
- $10 million in funding, contributed by Henry Ford Health ($5M), MSU Health Sciences ($2.5M), and the MSU Research Foundation ($2.5M)
- Access to clinical trial infrastructure, physician networks, and patient populations
- Expert support through MSU’s Conquer Accelerator and entrepreneurial programs
- Services like prototyping, regulatory consulting, legal support, and investor introductions
MSU’s investment subsidiary, Red Cedar Ventures, will manage the venture fund and allocate up to $2 million annually over the next five years to health tech startups that show strong growth potential.
Transforming Detroit into a Life Sciences Powerhouse
The Innovation Hub is part of a larger vision to make Detroit a national leader in healthcare innovation, in alignment with the upcoming Detroit research center, expected to open by 2027. The collaboration bridges academic expertise with real-world clinical access and venture capital, aiming to fuel breakthroughs in:
- AI-based medical diagnostics
- Remote care and telemedicine
- Digital therapeutics
- Precision health technologies
This public-private partnership creates a launchpad for the next generation of health tech entrepreneurs and is expected to stimulate economic growth and job creation across Michigan’s life sciences sector.
Source:
Becker’s Hospital Review – Henry Ford, MSU launch innovation hub with $10M venture fund
