The Office of Technology Commercialization is excited to announce this year’s first round of our Technology Development Fund (TDF) for developing promising new technologies. The TDF will provide pre-commercial development support for fast-track proof of concept development/validation work in support of technology commercialization. There are two award cycles per year with up to $50,000 being given per award cycle to either one awardee or multiple awardees.
The Technology Development Fund is an internal funding program with the goal of advancing inventions/intellectual property along the commercialization pathway by providing funds for further development. This fund is designed to provide funds with the purpose of making early inventions both more attractive and less risky to potential licensing and/or business partners. This will be achieved by facilitating the progression of an early-stage technology to that of a proven technology that is thus more licensable by providing funds to support the conduct of work that will help to answer pivotal remaining questions as to whether the technology works. Activities that fall within the scope of this fund include further development of an invention, establishing the proof of concept/validation of the technology, prototype development and pre-clinical or clinical development. It is expected that applicants will actively work with the Office of Technology Commercialization (OTC) to transfer the technology to the private sector for commercialization.
A total of two awards per year will be given with awardees potentially receiving up to a maximum of $50,000 per year. Applicants are encouraged to request only the amount of funding they require to accomplish their specific goal(s).
Management of the Fund
The Office of Technology Commercialization shall manage the fund, including receiving applications, coordinating their review by the TDF Committee, notification of the applicants as to the status of their application and distribution of the funds.
There will be two application cycles per year Submission of an application to the Office of Technology Commercialization (Wexner W115) must be by 4:30 PM on the first Monday of April and October (Application Deadline). Applications will be reviewed for the cycle in which they were received. Applications shall consist of a Technology Development Fund coversheet, work plan and budget (see below). OTC will review applications to assure that they meet the goal of this fund.
Applications that meet the goal of this fund will be reviewed by a TDF Committee of five industry experts in the commercialization field. These will include people with business, scientific and technical backgrounds. The TDF Committee will meet twice a year. During the review meeting, the OTC will provide a brief overview of the invention, the TDF committee will discuss the proposal and the applicant(s) will be invited to answer questions, however it is expected that the work plan will be sufficiently detailed so as to be understood independently. Upon the decision of the TDF Committee, applicants shall be notified by the OTC of their award status. If an applicant does not receive an award, they must reapply for the next funding cycle to be reconsidered. Funds may be distributed in their entirety or on a milestone basis as determined by the TDF Committee. Please note that the budget section in each application will be examined and modified as appropriate by the TDF Committee during the review of the applications.