Chancellor’s Fund Boosts Innovation

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 billy_houghteling@ncsu.edu.

If you’re an inventor on NC State University’s campus, you may be

eligible for short-term funding to enhance the commercial value of your

research through the Chancellor’s Innovation Fund (CIF).

Established by Chancellor William R. (Randy) Woodson, the CIF will

provide an average of $50,000 – $75,000 to a researcher or inventor who

meets established criteria. The funds may be used to reduce inventions

to practice, provide critical additional data, conduct market research,

or develop prototypes – all activities that will make the technology

more marketable.

The total funding commitment is $2.5 million over a five-year period,

with up to $250,000 available in this round of funding.

Deadline for proposals is April 15, 2011. The CIF Selection Committee,

composed of external partners and NC State personnel with technology and

entrepreneurial expertise, will announce awards finalists by May 13. All

finalists will make presentations to the Selection Committee May 26. The

winners will be announced June 10.

Only NC State faculty, staff and students are eligible for

consideration. Applicants must meet specific criteria, have established

relationships with an assigned case manager from the Office of

Technology Transfer (OTT), and have submitted an Invention Disclosure

Form (IDF) to OTT.

CIF was established to address funding gaps between the lab and the

marketplace, and to help in the development, protection and advancement

of ideas and discoveries assigned to NC State. NC State owns and

manages more than 700 U.S. patents, and over 75 companies have been

started on the basis of University discoveries by faculty, staff and

students.

When announcing the fund in September 2010, the Chancellor also

announced the founding of Springboard, an innovation resource center

where people and organizations with an interest in innovation can

discover ways to engage, collaborate or partner with NC State

University. Springboard services large corporations, start-ups,

government entities, non-profits, faculty members and students.

For details about CIF, eligibility, the application process, proposal

criteria, and submission, please visit www.ncsu.edu/ott/cif.html.

You may also contact Billy Houghteling, Executive Director /

Springboard and the Office of Technology Transfer, at 919-515-7199 or

via email at billy_houghteling@ncsu.edu.

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