If you’re an inventor on campus, you may be eligible for short-term funding to enhance the commercial value of your research through the Chancellor’s Innovation Fund.
The fund, established by Chancellor Randy Woodson, will provide an average of $50,000 to $75,000 for a researcher or inventor who meets established criteria. The funding may be used for activities to make the technology more marketable, such as providing critical additional data, conducting market research and developing prototypes.
Up to $250,000 will be available in this round of funding. The total commitment is $2.5 million over a five-year period.
April 15 is the deadline for proposals. A selection committee, composed of external partners and NC State personnel with technology and entrepreneurial expertise, will choose finalists by May 13. All finalists will make presentations to the selection committee May 26, with winners announced June 10.
Only NC State faculty, staff and students may apply. Applicants must meet specific criteria that includes having an established relationship with an assigned case manager from the Office of Technology Transfer (OTT) and having submitted an Invention Disclosure Form to OTT.
The fund was established to address funding gaps between the lab and the marketplace, and to help develop, protect and advance ideas and discoveries at NC State. NC State owns and manages more than 700 U.S. patents, and more than 75 companies have been started on the basis of discoveries by faculty, staff and students.
Last September, the chancellor also announced the creation of the fund, along with Springboard, an innovation resource center that enables people and organizations to collaborate or partner with NC State. Springboard serves corporations, start-ups, government entities, nonprofits, faculty members and students.
For more information, contact Billy Houghteling, executive director of Springboard and the Office of Technology Transfer, at 515-7199 or firstname.lastname@example.org.