University of Rochester Technology Development Fund OTT F.I.R.E. Series - March 10, 2011

University of Rochester

Technology Development Fund

OTT F.I.R.E. Series - March 10, 2011

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Michael G. Rusnak, Fund ManagerDeputy Director New Ventures and Technology Development

URMC Office of Technology Transfer

[email protected]

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Agenda

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Technology Development Fund (TDF)

Devoted to supporting University researchers who

wish to further the process of translating their

scientific and engineering research into commercial

opportunities.

The Why:

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Corporate Partner

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Where: The TDF Fund

• Philanthropic Advancement activity Example $25,000/yr for three years

• UR and URMC IP pool contributions• Goal is $500,000/year• Evergreen

Who: Qualified Applicants Include

• Faculty member• Post doctoral fellow• Graduate student • University employee

*An Invention Disclosure must be on file with OTT

prior to or along with application indicating the

intent to pursue commercial opportunities.

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Invention Disclosure

The Office of Technology Transfer

Box OTT/611 Hylan Building, Box 270142

784-8850 / 275.3998

 http://www.urmc.rochester.edu/technologytransfer/

inventors

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Who: Project Caveat

The Intellectual Property associated with your application cannot be encumbered by any obligation (license, option, first right of refusal, first look, etc) to a for-profit entity.

What: Awards Can Range•$40,000 to $100,000

•Supports projects of approximately one year

in duration

•Supports technical and administrative staff

salaries

•Supports equipment, and supplies

** It does not fund faculty salaries or overhead

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How: Application Process•Two Funding cycles per year

•Fall

•Applications due October 1st

•Awards granted December 31st

•Spring

•Applications due April 1st

•Awards granted June 30th

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Application Process:

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Application Process:Pre-Proposal Stage

Screening Committee

• Jack Baron – Chair• Entrepreneurs• VCs• Industry

Pre-Proposal - 2 pages• Brief Project Summary• Background• Plan/$$

April 8, 2011

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Application Process: Criteria for Review

• Who you know• Seniority• Kickbacks

• Scientific and technical merit• Research objectives toward commercial objectives• Feasibility and risk associated with the commercialization• Potential economic impact of the innovation• Clarity of path to commercial viability• Significance of market for the proposed product• Probability that the funding will produce results that will lead to external funding• Degree of patent protection

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Application Process:Pre-Proposal Screening

Screening Committee

April 25, 2011

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April 25, 2011

Application Process:Full Proposal Submissions/Oral Presentations

Full Proposals Due – May 20, 2011Oral Presentations – First Week in June

Full proposals• Grant-like• 5-10 pages• Clear budget/ milestones

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• Ralph Kuncl – Chair• URMC COO• UR Dean Engineering• Dean Simon School• Advancement• OTT• HTR• Screening Committee• Others

Recommendations - June 10

TDF Executive Committee Meeting ~June 20

July 1, 2011

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• PI Time and Effort Responsible for plan/oversees the project Help offered throughout process – OTT, Simon School, HTR , local entrepreneurs, etc.

• Quarterly reports to project team/fund manager• Milestones• Other funding issues• If commercially successful-paying back the fund

3X the award

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For Applications and FAQs http://www.rochester.edu/TechnologyDevelopment/

**Web Update by Monday, March 14, 2011**

**All proposal templates will be in Word format and

submitted to M. Rusnak via e-mail**

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1. Announce the TDF is accepting Pre-Proposal submissions up to April 8th; blast e-mail to TDF mailing list and @Rochester announcement

Week of March 7

2. All Pre-Proposals received April 8

3. Screening Committee membership completed April 15

4. Triaged Pre-Proposals sent to Screening Committee for review

April 15

5. Teleconference scheduled - Screening Committee review of Pre-Proposals

April 21 – April 25

6. Candidates for Full Proposal submission announced

April 25

7. Full Proposal submission deadline May 20

8. Oral presentations scheduled with TDF Screening Committee

June 2, 3, 6, 7, or 8

9. Recommendations for funding sent to the TDF Executive Committee

June 10

10. TDF Executive Committee meeting June 16, 17, 18, 20, 21, or 22

11. Funding announced July 1

Technology Development Fund (TDF)Schedule: Spring 2011 Funding Cycle