State Bioscience Discovery Evaluation Grants (BDEG or POCsb)

1. State Bioscience Discovery Evaluation Grants (BDEG or POCsb) https://www.cusys.edu/techtransfer/proof

2. Funding Programs

3. Funding Programs: POCg Update • Facts and Figures • Over $1.1M invested 2005-2007 • 21 licenses or options/56 projects funded = 37.5% lisense rate to date • Over $23.8 million in follow-on capital investment to date, most from Sierra • ROI TBD, but the investments have proved to be very leveragable • Follow-on activity seeded: • $25,000- Dan Abrams $196,000 POCsb & Sierra Neuropharma $21.5 M Series A • $20,000- Robin Shandas and Endoshape, over $750k in SBIR and 1060 funding • $10,000- Jeff Holt and Tissue Genetics, $1.165 M in SBIR and 1060 funding • $25,000- Gary Brodsky $190k POCsb • $25,000- Karen Newell (UCCS) and Viral Genetics $600,000 SRA

4. Funding Programs: POCi Investment Activity • Facts and Figures • 10/12 biomedical spinouts operating, 2 new ventures pending (since 2004) • 5 Nonbiomedical spinouts (since 2004) [not included] • Over $2.2 million in follow-on grants • $71 M in follow-on venture financing, most from Taligen • 2 venture, 2 angel financings

5. Funding Programs: POC HB 1360 = Colorado Company

6. HB1001 • $26.5 million over 5 years • Proof of concept grants • Funding match for small companies • Infrastructure funding • Grants of $50,000 - $200,000 (50% from state, with 50% CU match).

7. Important Dates • September 22 – invention must be on file at the TTO • October 17 – applications due at TTO • November 4 – finalists are invited to present to review panel • November 14 - CU forwards recommended proposals to the state. • December 31 – state grant decisions. • 2-5 months later – contract issued by the state. • Project Duration: Maximum time 15 months, but projects of shorter duration are encouraged.

8. State Definition • Bioscience Researchmeans the study of biological processes, organisms, devices, diagnostics, or systems with the objective of developing products that are intended to improve agriculture, the quality of human life, or the environment. “Bioscience Research” includes, but is not limited to, biofuel research and life sciences research.

9. Panel Review Criteria • Improved & accelerated evaluation of new bioscience discoveries and the development of products and services from the bioscience discoveries that will create new bioscience companies and additional primary jobs in Colorado. • Panelists are business oriented & are not a typical peer review panel.

10. OEDIT recommends that the OTT’s selection process evaluate proposals against the following criteria: • Does this project emphasize improving and accelerating the evaluation of a new bioscience discovery? • What are the chances of the project meeting the stated objectives? Will the project reasonably be completed in a 12-15 month window? Will a new product or process evolve within 3-5 years? • How likely is it that the proposed project work will produce a value inflection relative to the present state of the invention? • Is the proposal based on sound scientific foundations? • How strong is the actual/potential IP? • How compelling is the unmet need for the technology? What is the problem solved? • Is the commercial roadmap relatively straightforward? What is the business model? Product model? Revenue model? Are there precedents for the commercial pathaways or will new commercial models have to be invented? • Is it likely that the resulting technology that will be licensed to a Colorado-based existing business or start-up? • Will development/commercialization of the technology result in new jobs in Colorado? • Will development/commercialization of the technology result in capital investment in scalable Colorado companies? • Is the project budget reasonable for the activities to be performed? • https://www.cu.edu/techtransfer/proof/08BDEG_Application_Guidelines.doc

11. POC and Development Funding POCg

12. POC and Development Funding POCg POCi 1060 and POCi State POC 1360, 1001, and SBIR/STTR 1060 and POCi

13. Review Process • TTO internal review to choose ~ top 6-8 proposals from CU Boulder • Panel reviews written proposals • Oral presentation (10 min) + Q&A (10 min) • Panel decides on proposals to be sent to the state. • Competitive state review process

14. Requirements • Project develops and invention that is owned at least partially by CU. • Can be co-owned with a Colorado institution. • A non-Colorado institution or national lab may have a minority ownership interest. • Invention on file with the CU TTO. • The scope of the project is the scope required to enhance the commercialization of the technology in Colorado. Post-Project • Report submitted to OCG for reporting to state. • Presentation to local elementary & secondary school science teachers (coordinated by state & CBSA).

15. Proposal Requirements See proposal online at • Also follow any of the standard OCG proposal requirements. https://www.cu.edu/techtransfer/proof/state.html

16. CU Reporting Requirements • Annual CU report to state includes • Summary of the project • Date of grant award • Amount of amount of funding distributed • Summary results • Commercial license information • Final CU report to state • Status of IP – Was new IP developed? Has the IP been extended or obligated outside of the OTT or Research Institution? If so, provide details. • Technology Licensing – Has the technology been licensed outside of the RI? To whom? • Follow-on Capital Investment – Since the conclusion of the state Grant Award, what capital investment has this technology received?

17. Cost Rules • Funding Amounts:  $50,000 to $200,000 (matched total). • Allowable costs • Subcontracts to consultants. • Analytical or laboratory work. • Documented direct time worked on the project. • Direct lab supplies (consumables). • Costs requiring review by the state prior to approval • Equipment • Travel • Any “other” costs • ICR = 8% applied to the entire budget.

18. Advisors • TTO can match you with a business advisor from the community who knows bioscience and/or the process of putting your technology into context for a business audience.