UVDF applications are currently being accepted on a rolling basis by IIP.
To apply under the Promotion or Development Fund (internal awards), please submit to the Director of IIP a 3-5 page proposal and an indication of the fund to which you are applying (Development, Promotion). Please follow the proposal guidelines below. Additional application materials may be requested on a project by project basis.
To apply under the Facilitator Fund (external awards to PSU startups), please submit to the Director of IIP a business case, company financials, and a proposal of sufficient length to address the proposal guidelines below. Additional application materials may be requested on a project-by-project basis.
Eligibility
Promotion and Development Funds: These UVDF programs are only available to PSU faculty, staff, students, research teams. The projects proposed must either be related to innovations previously disclosed to IIP and with intellectual property is managed by IIP, or related to entrepreneurial education for PSU students.
Facilitator Funds: This UVDF program is available to PSU research-based startup companies that have taken or will take a license to PSU owned intellectual property.
Funding Guidelines
Promotion Fund and Development Fund applications may range from $10,000 to $100,000 but are contingent on the availability of funds, number of existing applications, and the potential impact on entrepreneurial education or commercialization. Facilitator Funds may range from $20,000 to $100,000 contingent on the availability of funds and depending on the needs of the startup company or maybe in $700 to $1500 ranges to assist with company formation. The general principle is to target funds to tasks where modest amounts of funding may have the most impact. Individual proposed projects are not expected to take more than one year to complete, although with the proper justification, and subject to fund availability, higher amounts over multiple years will be considered.
Conflicts of Interest
The university community is aware of potential conflicts of interest that may arise as a direct result of this program. Potential grant awards will be screened for conflicts of interest. No award will be made if an identified conflict of interest cannot be eliminated or managed.
Proposal Elements
Please include in the proposal: a description of the technology or innovation being supported, team information, appropriate milestones, a budget justification for major items, applicable due diligence, and enough information to address the evaluation criteria below.