AMA expands innovation efforts with IDEA Labs collaboration

The American Medical Association (AMA) announced a new collaboration with IDEA Labs, a student-run biotechnology incubator, to help inspire and support cutting-edge medical technology development from the next generation of young entrepreneurs studying at Washington University in St. Louis, Harvard University, Massachusetts Institute of Technology, University of Pennsylvania and University of Minnesota.

“Innovation is a key driver in making the health system work better for everyone,” said AMA CEO and Executive Vice President James L. Madara, MD. “The AMA looks forward to working together with IDEA Labs to help young entrepreneurs identify and understand key challenges in modern medicine and inspire innovation that will deliver meaningful solutions for patients and physicians.”

“IDEA Labs relies on collaborations with healthcare providers to create impactful new technologies,” said IDEA Labs Incubator Network President Stephen W. Linderman, MD, a PhD candidate at Washington University in St. Louis. “We look forward to collaborating with the AMA to spread the IDEA Labs model to more institutions and clinicians. By bringing together top universities across the country, connecting budding companies with the talent, mentors, and investors needed to thrive, this new collaboration will accelerate medical technology development and entrepreneurial education.”

The new collaboration with IDEA Labs underscores the AMA’s expanding role in supporting healthcare innovation and collaboration, according to a release. 

AMA’s innovation ecosystem also includes an expanded partnership with MATTER, Chicago's healthcare technology incubator; and  an investment as founding partner to Health 2047, a San Francisco-based healthcare innovation company that combines strategy, design and venture disciplines.