University of rochester technology development fund ott f i r e series march 10 2011
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University of Rochester Technology Development Fund OTT 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 [email protected] Agenda.

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

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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

[email protected]


Agenda


  • 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.


The Why:

UR TDF

Corporate

Partner


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


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.


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


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.


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


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


Application Process:


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


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


Application Process:

Pre-Proposal Screening

Screening

Committee

April 25, 2011


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


  • 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


  • Post Award:

  • Formation of project team

  • 2 weeks of diligence, budget, and project

  • finalization

  • Confirmation of start date and commercial

  • milestones

  • Transfer of Funds


  • 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


UR TDF


  • 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**


Technology Development Fund (TDF)

Schedule: Spring 2011 Funding Cycle


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