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NUCATS Center for Education and Career Development Proof of Concept Funding Opportunity Due July 17

Modified: July 2, 2015

The NUCATS Institute and the Innovation and New Ventures Office (INVO) are soliciting proposals for grants to fund technology proof of concept in the biomedical arena. The objective of the funds is to move promising research into a self-supporting commercial pathway. This is a one-time, non-recurring opportunity. Total funding of $100,000 is available. Two awards will be given. These grant funds are separate and distinct from the planned NUseeds fund. View the PDF here.

Proposal Requirements:

  • The principals must be Northwestern faculty, fellows, or graduate students.
  • The technology in question must be owned by Northwestern. It must be an applied biomedical technology (e.g. drugs, medical devices, and diagnostics).
  • The proposed work must aim to achieve a well-defined technical milestone that, if successful, will attract private sector participation in the form of collaboration, investment, and/or licensing. The work must be completed within 1 year.
  • The applicants MUST have a reasonable understanding of the market opportunity, commercial pathway for the technology, and value created by the approach.
  • The applicants should be able to describe a credible financing plan for commercialization after proof of concept.

Application Process

Pre-Application: Maximum 1 page prose summary with the above requirements, plus 1 page of attached figures.

Please cover the following in your prose summary:

  • The market opportunity;
  • Proposed technology solution that addresses the market opportunity. Please describe technology differentiation, and value created;
  • Projected technology development pathway, and achievements to date;
  • Proposed technology milestone. Please describe success criteria, activities, budget, and timeline; potential follow-on collaborators, investors, and/or licensors;
  • If the proof of concept succeeds, what private sector resources will the project attract? Please name potential follow-on collaborators, investors, and/or licensors;
  • Likely commercial pathway(s); and
  • Principal researchers.

Application Due Date: Friday, July 17, 2015 at Midnight

  • Please submit all pre-applications to invo@northwestern.edu. Include "Proof of Concept Funding" in Subject Line.
  • Pre-applicants will be notified by July 31, 2015 if their submission has been accepted to the final round.
  • If you're pre-application is accepted, you will be asked to give a short presentation on your proposal to a small panel of advisors and to answer questions. The presentations will be scheduled from August 10-14, 2015.
  • Funding decisions will be made by end of August 2015, and funds will be made available by September 2015.

To learn more about the Proof of Concept funding opportunity, please click here.

Funding and Career Development