UI Ventures is supporting the advancement of innovative technology developed by College of Engineering faculty and staff through a $100,000 Innovation Fund targeting medical devices and health software. Funding lasts through the end of FY 22 and will not carry over to FY23. Technologies should have Technology Readiness Levels (TRL) of 3-4 where there has been an early proof of concept and possibly component benchtop validation, but additional development is needed to further develop a prototype.
COE faculty and staff are eligible to apply for Innovation Funding and projects require Chair support. Maximum potential award is $50,000 per project. Total for College of Engineering Innovation Fund is up to $100,000 and will be granted based on recommendations from a selection committee that includes medtech industry executives and venture capitalists. Preference will be given to projects that show commercialization potential.
Use of Funds: Development of medical devices or health software (e.g. prototyping, software development, sterilization validation studies, mold design, animal studies, First in Human study, usability study.)
Funds may not be used toward salary or students.
Upcoming proposal deadline: November 19, 2021.
1. Submit proposal using form below. UI Ventures will review content for relevancy and completeness.
- Project details document should include description of 2-3 milestones and associated budget, timeline.
- Chair Approval statement should include project title, and general support of project concept. PDF of an email is acceptable.
2. UI Ventures compiles a summary for each project. Applicant may be asked to provide input for the summaries.
3. Full proposal, and UI Ventures summaries will be submitted to Selection Committee. Selection Committee comprises both internal and external members.
4. PI presents project to Selection Committee. Committee may ask questions regarding project, market need, timeline, budget.
5. Selection Committee selects projects to fund.
6. Selected projects are notified and 80% of approved funding is released to project MFK.
7. Final 20% of funding is released at completion after submission of Final Report to UI Ventures and Invention Disclosure form to UIRF if needed.