Technology Development Fund
Download the Technology Development Fund Application
Purpose
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.
Funding Range
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.
Application Procedure
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.
Who is Eligible
Faculty and Staff of Nationwide Children’s Hospital who have filed an Invention and/or Intellectual Property Disclosure Form with the OTC thirty days prior to the Application Deadline. Only unlicensed inventions/intellectual properties are eligible for this fund.
Use of Funds
Use of Funds
Funds may be used for activities such a: prototype development, pre-clinical or clinical development, engagement of end users to evaluate the technology, conduct of pivotal translational proof-of-concept experiments, technical validation, translational research, applied research. Work maybe conducted in the awardees’ laboratory or outsourced to an entity specializing in the activities proposed.
Expenses not allowed: Including, but not limited to, faculty/inventor’s salary, travel, consultants, indirect costs, basic research, laptops/computers, major equipment, and intellectual property protection.
Awardee Obligations
A Final Report outlining the work that has been done, what commercialization questions have been answered by the use of the funds, and how the technology has been advanced down the commercialization pathway is required within one year of the day the award is granted. In addition, if funds are distributed on a milestone basis, reports are due upon the completion of each milestone and prior to the release of any additional funds. Funds are distributed as a grant with no repayment obligations. Awardees must procure all institutional approvals (i.e. IACUC, IRB, IBCSC etc.) necessary to conduct the work as outlined in the work plan before funds are distributed. Further, awardees’ who fail to provide a Final Report shall be ineligible for further funding until the Final Report is submitted.
Expenses not allowed: Including, but not limited to, faculty/inventor’s salary, travel, consultants, indirect costs, basic research, laptops/computers, major equipment, and intellectual property protection.
Awardee Obligations
A Final Report outlining the work that has been done, what commercialization questions have been answered by the use of the funds, and how the technology has been advanced down the commercialization pathway is required within one year of the day the award is granted. In addition, if funds are distributed on a milestone basis, reports are due upon the completion of each milestone and prior to the release of any additional funds. Funds are distributed as a grant with no repayment obligations. Awardees must procure all institutional approvals (i.e. IACUC, IRB, IBCSC etc.) necessary to conduct the work as outlined in the work plan before funds are distributed. Further, awardees’ who fail to provide a Final Report shall be ineligible for further funding until the Final Report is submitted.
