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SBOE Idaho Incubation Fund Workshop

SBOE Idaho Incubation Fund Workshop. Office of Technology Transfer. The Idaho Incubation Fund is designed to provide critical "gap" funding that will help promising innovations and inventions that have a high degree of commercial potential to move forward to commercial application. .

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SBOE Idaho Incubation Fund Workshop

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  1. SBOE Idaho Incubation Fund Workshop Office of Technology Transfer

  2. The Idaho Incubation Fund is designed to provide critical "gap" funding that will help promising innovations and inventions that have a high degree of commercial potential to move forward to commercial application. Idaho Incubation Fund Program

  3. The final infusion of funds for additional research or prototype development that will make the innovation or invention market-phase ready or as the basis for a new company start-up. What is GAP Funding?

  4. Most university innovations are early stage • Very little external funding available for applied research • Companies/individuals tend not to invest in early stage innovations Gap funding creates the “proof of concept” and reduces the investment risk Why is GAP funding used?

  5. The Idaho State Board of Education (SBOE) has made monies available to support innovations that are: 1) developed at the Idaho universities, 2) have a high chance of commercialization, and 3) where GAP funding can accelerate the commercialization process. What is the SBOE GAP Fund?

  6. From the Higher Education Research Council (HERC) believing that GAP money is needed 1) to fully realized the potential of innovation advances from the universities, 2) to meet the expectations of stakeholders, and 3) to create opportunities for retaining students within Idaho after graduation. Origination of the SBOE GAP Fund

  7. Researchers at: • Boise State University • Idaho State University • Lewis-Clark State University • University of Idaho Who is Eligible?

  8. Highest ranking proposals will be funded up to the level of funding available. Most projects will be funded in the range of $10,000 - $50,000 per project for a period not to exceed 12 months. Award Sizes

  9. Researchers and project teams at University of Idaho should establish a long-term “team” relationship with OTT to develop and submit a proposal. Types of projects that would tend to “fit” in the GAP funding criteria include: Prototype development Software completion Beta testing Scale-up of process OTT Goals and Expectations

  10. 1) First meet with OTT to discuss research idea and submit preproposal. 2) Upon OTT invitation, assign technology to University. 3) Work with OTT as a “team” to develop full proposal. 4) Submit full proposal through OTT to SBOE “GAP” Fund. Proposal Submission Through the University of Idaho

  11. 1) Pre-proposal due to OTT – 8:00 am October 18, 2010 2) OTT respond to pre-proposal with invitation to submit full proposal – 5:00 pm October 18, 2010 3) OTT and Investigator prepare full proposal and submit for internal review– by November 15, 2010 4) Selected full proposals submitted to HERC for external review – by December 6, 2010 5) External review results to HERC – by January 7, 2010 6) HERC recommendations to Board for approval – February 16, 2010 Submission Timeline

  12. Brief description of the innovation • Describe the innovation’s current state • Identify the potential product/service • Identify potential customers • Identify any commercialization partners • Briefly describe how the requested funds will be used Pre-proposal Content

  13. Pre-proposals due to OTT@uidaho.edu no later than 8:00 am Monday, October 18, 2010 • Gut Check! • Is there a product/service? • Does innovation meet customer need? • Can this funding get it ready for Angel level funding? • Full proposal invitation EOB October 18 Pre-proposal review

  14. Executive Summary • “Gap” Project Objective & Total Requested • Name of Idaho public institution • Name of faculty member directing project • Description how project reflects priorities of UI • Evidence of potential impact on economy of Idaho • Partnerships or new company formation Full Proposal Format (10 page limit)

  15. The Market Opportunity • The Technology • Commercialization Partners • Specific Project Plan and Detailed Use of Funds • Education and Outreach • Institutional and Other Sector Support • Appendices Proposal Format (10 page total)

  16. Market need Customer / end-user Is innovation better, faster and/or cheaper than current products/services? Market barriers Market drivers Competitive climate Etc…… OTT will assist in determining Market Opportunity such as:

  17. Full proposal received at ott@uidaho.edu by EOB November 15, 2010 • Internal Review Team • Satisfies Intent • Clearly describes Market Opportunity • Clearly demonstrates viability of Innovation • Believable plan for Commercialization Partners • Specific Project Plan • Recommendations for external review by December 6, 2010 Full Proposal Review

  18. Overseen by HERC • Coordinated by the Idaho Technology Council • HERC’s recommendation to Board in time for February 16 – 17 meeting. • Funding should be available shortly after February 17. External Review

  19. Business Plan Development • On-going review with OTT • Mentors • Commercialization partners • Licensing • Revenue sharing Awarded Proposals

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