Strategic and Implementation Plan
The Regenerative Medicine Engine, based in North Carolina and funded by the NSF Regional Innovation Engines program, is designed to accelerate the commercialization of regenerative medicine technologies by providing the tools, resources, and ecosystem needed for success.
With the NSF’s support, the RegenMed Engine is helping regenerative medicine companies succeed, driving economic growth, and positioning North Carolina as a leader in this industry.
Why the Regenerative Medicine Engine?
Despite strong research and education, the United States lags behind other countries in bringing regenerative medicine technologies to market. For example, market reports show that less than 20% of the world’s late-stage, pre-commercial trials are conducted in the United States.
This translation gap exists because there are significant hurdles in the development of regenerative medicine technologies.
The RegenMed Engine aims to eliminate those hurdles and close the translation gap.
How the Regenerative Medicine Engine achieves its goals
Managed by the Wake Forest Institute for Regenerative Medicine in collaboration with a variety of academic institutions, companies, and nonprofits, the RegenMed Engine focuses on three main areas: R&D translation, ecosystem development, and workforce development. Each of these areas allows the Engine to accelerate innovation.
Ecosystem Development
The Engine is creating a collaborative and innovative ecosystem that brings together innovators, educators, and business leaders. We help companies identify partnerships, develop business strategies, and secure capital. By fostering this ecosystem, the Engine is creating high-paying jobs and fueling economic development.
R&D Translation
The Engine supports companies through the technical and procedural challenges in developing a regenerative medicine technology. We do this through our Regulatory Navigator, where companies can gain expertise and targeted regulatory guidance; our Test Bed, where companies can prototype and iterate their technologies in our ecosystem; and our Product Trial Catalyst, where companies receive support in conducting high-quality, compliant studies.
Workforce Development
The Engine collaborates with and unites top research and academic institutions and industry organizations to meet the workforce demands of today and tomorrow’s regenerative medicine industry. We are building a deep talent pipeline of highly motivated and skilled workers, from technicians to executives.
How the Regenerative Medicine Engine grows
The RegenMed Engine’s strategy focuses on building partnerships and expanding its services to support industry growth.
The Engine’s growth plans are phased, starting locally in the Triad and expanding statewide in North Carolina. Plans also prioritize financial sustainability, with a phased strategy to transition to a self-sufficient model over the next decade.