Request for Applications
Faculty Innovation Award
The MU Institute for Clinical and Translational Science (MU-iCATS), the UM System Vice
President for Research and Economic Development Office, and the Missouri Innovation Center,
Inc. (MIC) announce the availability of a mentoring program, residency privileges at the MU Life
Science Business Incubator, and modest funding support to assist faculty innovators with the
earliest phases of assessing or advancing the commercialization of inventions arising from their
research. Innovations arising in the field of clinical and translational science that are projected
to have strong commercial potential will be given highest priority for funding. Key attributes of
innovations with commercial potential are as follows:
1. The market opportunity for products or services based on the innovation is large.
2. The innovation is feasible, scalable, and appropriate (e.g., it is safe and it works in its
commercial form and can be manufactured/performed cost effectively with adequate profit
margin to be a financially sustainable endeavor and to return adequately on the investment
required to take it to market).
3. The innovation is protectable (patentable) and can sustain its competitive advantage in the
existing and projected competitive landscape.
4. Feasible channels to market exist for products or services based on the innovation.
Eligibility. Faculty can compete for funds in the form of a Faculty Innovation Award to advance
the commercialization of their research-based clinical and translational innovations. The
purpose of the Award is to support activities and processes that help to determine the
commercial feasibility of an innovation. The commercialization potential of an innovation does
not have to be known at the time of application; however, innovations with obvious
commercial potential in principle will have priority in the selection process.
Funding. Each Faculty Innovation Award is equivalent to $12,500 in support. Support is
provided in two main components:
1. Awardees receive a twelve-month residency, valued at $5,000, in the MU Life Science
Business Incubator. Incubator residency includes the following:
a. Business Coaching and Mentoring Services from the Missouri Innovation Center (MIC).
MIC is a private, non-profit organization established in 1984 for the purpose of
commercializing intellectual property. MIC is also responsible for operating the
Incubator and providing business incubation services to resident and external clients.
The Incubator is a member of the National Business Incubation Association (NBIA) and
has been awarded the NBIA Soft Landings designation.
(1)
Assistance from MIC professional staff for all business issues
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(2)
(3)
Assistance from MIC’s Entrepreneurial Scholar MBA student interns for specific
business tasks
Access to MIC’s extensive network of volunteer business leaders, industry
experts and contacts
b. One Office Unit in the Incubator’s Entrepreneurial Launchpad Suites
(1)
(2)
(3)
(4)
Office furniture (desk, chair, filing cabinet)
Office phone w/voice mail
Data port
24/7 access
c. Access to and/or use of Incubator Shared Resources
(1)
(2)
(3)
(4)
(5)
Board Room, suitable for groups of up to 15 people
Event Room, suitable for groups of up to 60 people
Executive Office, suitable for two to four people
Break Room (refrigerator, microwave, coffee)
Business Technology Suite
(a)
(b)
(c)
(d)
(6)
BizHub 550C (networked color copier, fax and doc. scanner)
High capacity document shredder
Document production equipment
Mailbox
Shared Laboratory Equipment
(a) Millipore, Milli-Q Advantage A10 Ultrapure Water Purification System
i.
Dual Q-POD delivery units
a) BioPak Ultrafiltration Cartridge
b) Millipak Express 40 Filter Unit, 0.22 µm
(b) Tuttnauer Model 66150SP-1A Autoclave – Steam Sterilizer
(c) Lancer 1400 LXP Glassware Washer Dryer
(d) Laboratory Ice Maker
d. Incubator Account Credit of $500 that can be used for charges associated with long
distance phone calls, photocopies, office supplies and other incidental fees.
e. Favorable, MU-internal rates for many MU-provided products and services
2. Awardees receive $7,500 in funding to be used for activities that advance the assessment of
the commercial potential of an innovation or advance the commercialization process. Use
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of these funds should be outlined in the application (subsequent revision is permitted when
justified). PI salary support is not an allowable expense.
Incubator residency will occur, and funds will be distributed, only after confirmation that the
awardee has complied with all applicable University of Missouri intellectual property disclosure
and conflict of interest requirements.
Selection Criteria. The selection criteria will be as follows:
1.
2.
3.
4.
5.
6.
7.
8.
Intellectual merit of the innovation
Size of the opportunity (problem, market) being addressed
Novelty of the proposed solution
Ability of the solution to compete, patent status, openness of the competitive landscape
Feasible channels to market
Potential to be the nucleus of a new company
Potential to qualify for an SBIR/STTR grant
Potential to secure investment capital
Application. An application, using the form provided at
http://medicine.missouri.edu/research/awards.html is required to facilitate review against the
selection criteria.
Review Process. A panel of scientists, entrepreneurs, and investors will review applications
against criteria that are indicators of commercial potential.
Deadline for Applications. Applications must be received by November 15, 2013. Copies of
forms and guidelines can be obtained at http://medicine.missouri.edu/research/awards.html.
Applicants may submit multiple applications (innovations), but only one award will be made per
faculty applicant.
Rev. 2/22/12