BUDGETS AND USE OF FUNDS
Funds support a specific, determinative “killer” experiment aimed at getting to human studies (as required) and to patients as quickly as possible. This includes the application of business resources in order to bring downstream product development considerations upstream, and adaptation to new information that may take a team down a path to a different application or technical approach or, even, to quit while ahead.
There is no funding limit per project or a set number of projects that must be selected. All projects and their budgets are evaluated on their own merits. Historically, we have funded 5 to 6 projects per year, with budgets ranging from approximately $60K to $190K, and a median award size of $100K. Generally, the requested budget should be appropriate to the size of the commercial opportunity.
Funds MAY be used for:
- salary and fringe benefits for project personnel (other than PIs or Co-PIs)
- materials and supplies (including animal costs for preclinical studies)
- consumable equipment (e.g. components for systems)
- costs for human studies (e.g. IRB fees, patient recruitment fees, etc.)
Funds MAY NOT be used for:
- salary or fringe for PIs or Co-PIs
- capital equipment
- space and renovations
- indirect costs
For more questions on funding, please see FAQs
Project plans should not exceed 12 months in duration. Teams that successfully achieve their first year milestones may apply for additional funding to meet additional commercialization objectives.