Translational science is cross disciplinary, scientific research that is motivated by the need for practical applications that help people. The term is used mostly in the health sciences and refers to real-time translation of bench science, conducted only in a lab, to bedside clinical practice or dissemination to population-based community interventions.
In U.S., the National Institutes of Health have implemented a major national initiative to leverage existing academic health center infrastructure through the Clinical and Translational Science Awards. National Center for Advancing Translational Sciences (NCATS) was established on December 23, 2011.
The industry and academic interactions to promote translational science initiatives has been carried out by various global centres such as European Commission, Glaxo Smithkline and Novartis institute for Biomedical Research in European Union,  the University of California, Davis in the U.S.,  the translational research cells at National Institute of Virology, National Institute of Nutrition under Indian Council of Medical Research and Biotech Consortium India Limited in India. 
-  Detailed explanation given in CTS: Clinical and Translational Science
- http://www.ctsaweb.org/ Clinical and Translational Science Award