A new fund will help Southern Illinois University Carbondale researchers and inventors make the leap from idea to commercialization.
The Saluki Concept Fund, a new venture of SIUC’s Office of the Vice Chancellor for Research and the Technology Transfer Program of the Office of Research Development and Administration will offer individual awards of up to $20,000 to support short-term projects designed to show that an invention has potential for commercialization licensing or as the basis for a start-up company. These projects – called proof-of-concept studies – are often needed to show potential licensees or investors that an invention, idea or technology will work in an applied setting.
Studies of this kind are normally not funded by federal, state or other traditional funding sources. The Saluki Concept Fund will fill in the gap, supporting projects of up to one year that aim to “scale-up” research or show marketing and licensing viabilities.
“Research universities like SIUC are counted on to be economic engines, in part from new companies that spin off from the patents invented there,” John A. Koropchak, vice chancellor for research and graduate dean, explained. “Getting from a patent to a business has many challenges including finding the means to construct a prototype or conduct market research. This program is intended to bridge that gap and increase the likelihood that the best ideas can be successfully developed to create new jobs in southern Illinois.”
Jeff Myers, senior technology transfer specialist at SIUC said similar programs have been successfully implemented at other research institutions, and SIUC’s program has been under consideration for some time.
“The timing is right for this program,” Myers said. “We have an increasing number of innovations that could benefit right away from this new fund.”
All SIUC faculty and staff are eligible for proof-of-concept funding, provided the applicant is listed as the inventor on the required invention disclosure. All awards are subject to the availability of funds.
Information on the fund is available from the University’s Technology Transfer Program at (618) 453-4511 or online at http://techtransfer.siuc.edu/poc/.
Friday, January 14, 2011
New Saluki Concept Fund for scale-up research projects
The following appeared in the SIUC Technology Transfer December 2010 Newsletter. To read the newsletter and to subscribe for future issues, visit http://www.techtransfer.siuc.edu/signup.html. Or, visit the Saluki Concept Fund webpage.