North Carolina's newest hubs are driving commercialization: centers of innovation develop industry sectors by drawing on research capacity within the state's universities and aligning it to private needs.

• Position: NORTH CAROLINA BIOTECHNOLOGY CENTER

Innovation comes in many forms, but those destined for commercial success need a champion to skillfully translate them into marketable products. Enter the Centers of Innovation, a North Carolina Biotechnology Center initiative that brings together innovative ideas and those skilled champions. These COIs are virtual go-to hubs that create public-private partnerships in targeted new economy business sectors to speed products to market.

COIs are designed to develop an industry sector by drawing upon the research capacity within North Carolina universities where ideas that align with industry needs can be refined. Existing companies are attracted to North Carolina through the formation of public-private partnerships and the technology solutions they provide. Plus, companies are created to advance these technology solutions. The result is better, faster, safer and less-expensive products, as well as jobs for North Carolina.

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The Biotechnology Center is currently working with four COI teams:

* Nanobiotechnology.

* Advanced medical technologies.

* Marine biotechnology.

* Drug discovery.

A new way to meet the need

Traditionally, economic development has been a competition to attract industry to a state or region.

Commercialization of university research has followed an equally traditional path: develop an idea and license it to a company, which then brings the product to market.

The Centers of Innovation overturn the basic assumptions of these traditional models. By targeting development of nascent strengths in North Carolina, the COIs aim to create market segments and increase the total number of ideas that can be commercially developed. By bringing commercial and academic organizations to the same table, the product-development process becomes a collaboration that pulls the best ideas to market faster.

These sophisticated public-private partnerships, established as independent, nonprofit corporations, are not brick-and-mortar centers. Rather, they're offices staffed by problem-solving professionals who identify and synthesize expertise from across the state.

"COIs provide a one-stop shop of open innovation," says Ken Tindall, Ph.D., the Biotechnology Center's senior vice president of science and business development who led the COI program creation.

"They identify opportunities within our state's groundbreaking university research to address a market need identified by industry. Linking research capabilities to the market...