Recap/Excerpts from iWorkshop on Gap Fund Support Programs

By | August 30th, 2012|Uncategorized|

Last week, we held the first in a three-part Mind the Gap iWorkshop Series.

Great event, with a very detailed walkthrough of administration and management of these initiatives to engage faculty, students and the business, technical and investment community in the the evaluation, development, and commercialization of promising technologies and start-ups.

U Colorado Market Assessment Program, Rutger CIVET Innovation Sounding Board, and Northeastern IDEA program all provided insights into their programs including:

  • Origins, Champions, Motivations
  • Detailed walkthrough of process and administration
  • Impact measures and successes
  • Lessons learned
Each exhibits the three qualities of successful gap fund support programs in that they engage the innovation community, run a intense, systematic entrepreneurial process, and they leverage core competencies on campus

The discussion lasted almost two hours! I wanted to share a 20 minute excerpt from the event with the community: […]

Mayo Clinic, venture firms team to support Rock Health tech incubator fund

By | August 30th, 2012|Accelerator/incubator, California, New Fund Announcement, Seed Fund|

After two years of nurturing medical-technology companies–including one that turns an iPhone into a functioning microscope and another making games to sharpen mental acuity–San Francisco incubator Rock Health has formed a partnership with several venture firms that will see more investment dollars flowing to early-stage companies.

Kleiner Perkins Caufield & Byers , Aberdare Ventures , Mohr Davidow Ventures and the Mayo Clinic will together offer each participant in the Rock Health program $100,000, a significant jump from the $20,000 grant that each participant used to get from investors. […]

Estonian Tallinn University offers Prototron Fund with help from Swedbank

By | August 28th, 2012|Accelerator/incubator, Estonia, New Fund Announcement, Seed Fund|

On the 14th of August prototype fund called “Prototron” was launched by Tallinn Science Park Tehnopol, Swedbank and Tallinn University of Technology. The aim of the fund is to finance the development of first products – prototypes. Swedbank will financing fund of Prototron is 120 000 euros for the first three years.   […]

Overview: Portland State University Venture Development Fund

By | August 28th, 2012|New Fund Announcement, Oregon, Proof of Concept, State or Government Supported|

The University Venture Development Fund (UVDF)
is a legislatively created and donor funded venture/
grant program unique to the State of Oregon. As a
fund used to fill the funding ‘gap’ between university
innovation and commercial products and services, the
UVDF benefits faculty, the university, and company
and individual donors (with a generous Oregon tax
credit), while at the same time spurring […]

University of Utah looks to donations to jumpstart Gateway Crimson Innovation Fund

By | August 28th, 2012|New Fund Announcement, Seed Fund, Utah|

At a time when the University of Utah is tapping the philanthropic community to fund scholarships and buildings for research, academics, athletics and cultural amenities, the school this week added another request: funding for technology commercialization.

Money donated to a new Gateway Crimson Innovation Fund will help push university inventions, such as medical devices and treatments, drugs, energy technologies and software, into the marketplace. […]

Three Ohio State University spinoffs, two applied research projects land support from Ohio Third Frontier

By | August 28th, 2012|New Investments/Awards, Proof of Concept, Seed Fund, State or Government Supported|

Three Ohio State University spinoff companies and two research projects were awarded a combined $400,000 from the Ohio Third Frontier Commission out of a total $12.5 million awarded Thursday. […]

University of Iowa Research Foundation increases proof of concept capabilities

By | August 28th, 2012|Iowa, Proof of Concept, State or Government Supported, University-managed|

Before this year, the foundation had been able to finance the proof of concept research through the state’s Grow Iowa Values Fund (GIVF). Last year, the foundation doled out $525 thousand in grants, with each grant ranging from $10,000 to  $50,000.

But this year, foundation officials were not sure if they would receive funding from the state, so they developed the gap fund.

The foundation  subsequently has received $525,000 in funding for proof-of-concept research from the Regents Innovation Fund, which has allowed them to reduce the amount of internal funds used to $475,000, to reach the million-dollar gap fund promise.

Xavier X-Lab demonstrates key support program success factors

By | August 20th, 2012|Competition, Fund RFP, Ohio|

No fund, but Xavier X-LAB demonstrates a systematic approach to early stage concept development through an “internal accelerator/competition” program. From our experience, this program implements three key fundamentals of successful, university-led, gap programs:

1.Engages Innovation Community: An ideal gap program incorporates an extended network of technical, business, and investment professionals into the process. These individuals share […]

University City Science Center POC program funds handheld breast cancer diagnostic technology

By | August 20th, 2012|Accelerator/incubator, New Investments/Awards, Pennsylvania, Proof of Concept, State or Government Supported, Translational Research|

A breast cancer diagnostic startup that uses fingertip sensors to detect tumors has received a research grant of more than $878,000 to advance its handheld diagnostic device.

UE Lifesciences’ “Intelligent Breast Exam” can distinguish between normal breast tissue and a tumor. Breast cancers are stiffer and less mobile than the surrounding tissue, according to a paper documenting the device. Dr. Ari Brooks, chief of surgical oncology at the Drexel College of Medicine, said it has been particularly effective at detecting tumors in women under 40, based on the clinical trials the college of medicine has conducted. […]

Confidence in Concept awards will fund 150 pilot projects across 14 universities

By | August 20th, 2012|England, Proof of Concept, State or Government Supported|

The ‘Confidence in Concept’ awards, delivered by the Medical Research Council (MRC) and totalling £7.4m, will give 14 universities grants of between £360,000 and £750,000 to help them progress promising research ideas towards clinical testing.

The grants will fund about 150 pilot projects, allowing academic researchers to begin the process of turning a bright idea into a viable proposition. Universities receiving an award have control over allocating the funding internally, allowing them to respond rapidly to new opportunities and have the flexibility to pursue the most promising translational research opportunities. […]