The U Colorado Market Assessment Program,
On Wednesday, August 27th, innovosource held the first in a series of three web-workshops on leading gap fund practices. One of the key focuses of these initiatives is incorporating faculty, students, and external community members in the funding process through gap fund support programs.
A top example of these programs, is the U Colorado Market Assessment Program (MAP) in association with its Proof of Concept funding. The Program engages faculty, students, and tenured business executives in the evaluation and development process of promising technologies.
The Program also embodies three facets of successful 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 their expertise through development and advisory roles. They want to help…it’s in their best interest.
2:Develops Intra-/Entre-preneurs: Competition and short,intensive processes (Lean Start-up, Bootcamp) set budding and tenured -preneurs for the realities of starting something of their own. While abbreviated, and in no way a full dose, this approach can get these individuals to direct focus on what is important and even more transcendent …ask important questions, tell their friends, shape their future actions
3.Leverages Campus Competencies: B-School 101…Identify your core competencies, tap, and grow. The bread and butter of college campuses is the brain power (faculty, students). Successful programs will uses faculty and students to evaluate and develop promising ideas. It helps the final product and educates in the process.
The excerpt of the event below contains the complete overview of the CU MAP program, and highlights:
- Origins, Champions, Motivations
- Detailed walkthrough of process and administration
- Impact measures and successes
- Lessons learned
Access to the full event including the Rutger CIVET Innovation Sounding Board, and Northeastern IDEA program are after the link. Also, Consider joining us for the remaining two events! Managing the Gap Fund Process (9/5) and Raising and Sustaining Funds (9/19) MORE INFO HERE