Tech Launch Arizona, a new umbrella organization at the University of Arizona charged with commercializing technology and creating industrial relationships, has announced two gap funding models for the program:

Arizona Furnance: Arizona Furnace offers promising startup ventures a package worth more than $50,000 in cash and services. The package includes a $25,000 seed funding grant and six months of incubation space in the ASU SkySong facility, the UA’s BIO5 Oro Valley Accelerator, or the UA’s partner incubator, the Arizona Center for Innovation. Arizona Furnace is an intensive, six-month, mentor-led accelerator program, and includes several additional support services. Companies that are accepted into Arizona Furnace must be based in Arizona as a stimulant to regional economic development and job creation. (Full Press Release)

Proof of Concept Program: Overview events for these programs will invite faculty to submit promising technologies for proof of concept funding review. (More)