A leadership change for Biosciences Research and Commercialization Center

Western Michigan University’s Biosciences Research and Commercialization Center has a new man at the top. Stephen J. Haakenson has been named executive director of the BRCC. He comes with an extensive background in helping to launch startup companies.

Haakenson previously was responsible for managing the State of Michigan’s investments in companies to help them grow, expand and diversify in his position as the Michigan Economic Development Corp. program and portfolio manager.

He comes to WMU at the same time the BRCC launches its second phase of funding–$3.8 million aimed at life science business starts–invested by the Michigan Strategic Fund.

Western Michigan University’s Biosciences Research and Commercialization Center was established in 2003 with $10 million from the Michigan Economic Development Corp. It provides early-stage capital, pharmaceutical expertise and business development consultation.

So far, the BRCC has invested $10.1 million in 31 life science companies across Michigan. Today 25 of the companies are viable entities.

Most decisions on funding for BRCC companies are based on their patents, 16 of which are licensed from Michigan universities and private inventors in Michigan and another seven coming from universities in other states. The remaining BRCC-funded companies provide services to the life science industry.

Haakenson says he is eager “to provide the financial expertise and resources I have acquired during my career to expand on the BRCC’s success and solidify its reputation as a supportive investor in Michigan’s growing entrepreneurial community.”

Writer: Kathy Jennings, Second Wave
Source: Cheryl Roland, Western Michigan University