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Iowa Medical Innovation Group
The Iowa Medical Innovation Group (IMIG) provides students with an interdisciplinary experience in medical innovation development, design and the challenges of bringing an innovation to market.
Four IMIG teams are organized each spring. Each team is comprised of a diverse group of students from business, medicine, engineering, and law.
Projects begin with IMIG student teams reviewing requests from clinicians for solutions to existing medical needs. Teams analyze RFPs, select viable projects, and develop the project stages.
Each team member is encouraged to work in all phases of the innovation process, including:
- Study of the relevant regulations and legal implications
- Engineering and design
- Raising capital
- Insurance and coding
The IMIG students meet with industry leaders, including CEOs of medical design companies, angel investors, and venture capitalists, who provide guidance and open doors for progressing teams.
By the end of the IMIG program, teams produce functioning prototypes and commercialization strategies, including a go-to-market plan for promising designs. Team members leave the program with real-world assets, including part ownership of the patents related to their product and an opportunity to continue work on the product if they so choose.