The Institute for Life Science Entrepreneurship (ILSE) is a newly formed organization structured to become a uniquely effective model for academic, industry, and entrepreneurial collaboration. The Institute's mission is to catalyze and accelerate the translation of breakthrough discoveries in the life sciences into safe and effective pharmaceutical, biological, medical device and biotechnology products. It has been designed to link together time-critical resources on a large scale from a broad spectrum of disciplines and players in academia and industry to advance innovation, creativity and entrepreneurism (ICE) in the life sciences. The differentiating factors are the scale of the collaborative enterprise and the degree of integration of academic and industrial science.