The Office of Technology Development has announced that the Technology Commercialization Proof-of-Concept Award Program is now accepting submissions.
The Technology Commercialization Proof-of-Concept Award provides funding up to $75,000 to enable Penn State Hershey investigators to further develop a commercializable technology based on Penn State intellectual property.
The award program was launched in early 2013 with support from a Discovered in PA, Developed in PA (D2PA) grant from the Pennsylvania Department of Community and Economic Development. Its purpose is to provide financial support for investigators to achieve a proof-of-concept for their translational research projects. Since 2013, the program has provided funding for three Penn State Hershey spin-off companies.
“Establishing proof-of-concept for life science technologies is a vital step in the commercialization process. We want commercially viable technologies to remain on a forward trajectory in the development process,” said Kurt Kissinger, interim director of the Office of Technology Development.
“We are pleased to be able to provide financial support for our investigators pursuing proof-of-concept in translational research,” added Dr. Sheila Vrana, interim vice dean for research and graduate studies at Penn State College of Medicine. “This is a critical component of our comprehensive strategy to assist Penn State Hershey investigators with their commercialization efforts.”
Submissions are due Friday, Sept. 26, to the Office of Technology Development. Investigators will be notified of the outcome of the review by mid-October. More information and submission requirements can be found at http://www2.med.psu.edu/technologydevelopment/technology-commercialization-award-program/.