University of Rochester Technology Development Fund OTT F.I.R.E. Series - March 10, 2011

1. University of RochesterTechnology Development FundOTT F.I.R.E. Series - March 10, 2011 Michael G. Rusnak, Fund Manager Deputy Director New Ventures and Technology Development URMC Office of Technology Transfer 585.784.8850 michael_rusnak@urmc.rochester.edu

2. Agenda

3. Technology Development Fund (TDF) • Devoted to supporting University researchers who wish to further the process of translating their scientific and engineering research into commercial opportunities.

4. The Why: UR TDF Corporate Partner

5. Where: The TDF Fund • Philanthropic • Advancement activity • Example $25,000/yr for three years • UR and URMC IP pool contributions • Goal is $500,000/year • Evergreen

6. Who: Qualified Applicants Include • Faculty member • Post doctoral fellow • Graduate student • University employee *An Invention Disclosure must be on file with OTT prior to or along with application indicating the intent to pursue commercial opportunities.

7. Invention Disclosure The Office of Technology Transfer Box OTT/611 Hylan Building, Box 270142 784-8850 / 275.3998 http://www.urmc.rochester.edu/technologytransfer/inventors

8. Who: Project Caveat The Intellectual Property associated with your application cannot be encumbered by any obligation (license, option, first right of refusal, first look, etc) to a for-profit entity.

9. What: Awards Can Range • $40,000 to $100,000 • Supports projects of approximately one year in duration • Supports technical and administrative staff salaries • Supports equipment, and supplies ** It does not fund faculty salaries or overhead

10. How: Application Process • Two Funding cycles per year • Fall • Applications due October 1st • Awards granted December 31st • Spring • Applications due April 1st • Awards granted June 30th

11. Application Process:

12. Application Process: Pre-Proposal Stage • Screening Committee • Jack Baron – Chair • Entrepreneurs • VCs • Industry • Pre-Proposal - 2 pages • Brief Project Summary • Background • Plan/$$ April 8, 2011

13. Application Process: Criteria for Review • Scientific and technical merit • Research objectives toward commercial objectives • Feasibility and risk associated with the • commercialization • Potential economic impact of the innovation • Clarity of path to commercial viability • Significance of market for the proposed product • Probability that the funding will produce results • that will lead to external funding • Degree of patent protection • Who you know • Seniority • Kickbacks

14. Application Process: Pre-Proposal Screening Screening Committee April 25, 2011

15. Application Process: Full Proposal Submissions/Oral Presentations April 25, 2011 • Full proposals • Grant-like • 5-10 pages • Clear budget/ • milestones Full Proposals Due – May 20, 2011 Oral Presentations – First Week in June

16. Application Process: • Screening Committee Recommendations to the TDF Executive Committee Recommendations - June 10 TDF Executive Committee Meeting ~June 20 • Ralph Kuncl – Chair • URMC COO • UR Dean Engineering • Dean Simon School • Advancement • OTT • HTR • Screening Committee • Others July 1, 2011

17. Post Award: • Formation of project team • 2 weeks of diligence, budget, and project • finalization • Confirmation of start date and commercial • milestones • Transfer of Funds

18. Terms and Conditions • PI Time and Effort • Responsible for plan/oversees the project • Help offered throughout process – OTT, • Simon School, HTR , local entrepreneurs, etc. • Quarterly reports to project team/fund manager • Milestones • Other funding issues • If commercially successful-paying back the fund • 3X the award

19. UR TDF

20. For Applications and FAQs http://www.rochester.edu/TechnologyDevelopment/ • **Web Update by Monday, March 14, 2011** • **All proposal templates will be in Word format and submitted to M. Rusnak via e-mail**

21. Technology Development Fund (TDF) Schedule: Spring 2011 Funding Cycle