Commercial translation is the process by which basic scientific and clinical research is framed, structured, funded, and in some cases converted into translational research projects – all expanding the University’s research purpose and precipitating solutions that can be transferred to the marketplace to meet unmet market needs. The primary purpose of commercial translation is to elevate the core missions of both the University and the respective industry partners who support their commercial translation pathways via funding and research-oriented insights. Consequently, benefits of commercial translation to the university include: increasing research scope and scale, diversifying revenue sources, creating clinical product utility for human health and wellness, and societal benefit.
Chancellor Gallagher identified Commercial Translation as a strategic focus area in Pitt’s 5-year Plan, “Making a Difference Together”. As a result, the Senior Vice Chancellor for the Health Sciences, Dr. Arthur Levine, has set Commercial Translation as a strategic priority and charged Assistant Vice Chancellor for Commercial Translation in the Health Sciences, Dr. Donald Taylor, with leading these efforts in the Health Sciences in collaboration with stakeholders across campus.
Under Dr. Levine, sciVelo was formed in order to scale commercial translation culture. sciVelo facilitates industry sponsored research collaborations by providing a consistent culture of commercial translation to evolve Pitt innovations into viable commercial solutions that solve critical health problems. Encouraging technical and business collaborations between Pitt and industry early in the commercialization cycle provides an open forum to iterate through the challenges of entrepreneurship and move beyond the historical divides of business, patient care, and research priorities. sciVelo’s expertise in bridging these gaps serves to harness Pitt’s competitive edge as an integrated academic-hospital system in the rapidly changing healthcare marketplace.