University Venture Development Fund
The University Venture Development Fund, ORS 351.697, provides Oregon University System schools the opportunity to accept gifts from individuals and organizations that wish to support research and commercialization activities at the universities.
The donors receive a significant State of Oregon tax credit, and the university technology transfer offices are able to use the funds to facilitate the commercialization of university research and development, and to support projects and innovations that show promise for having impact.
PSU’s programs under the UVDF are designed to provide assistance in circumstances where small amounts of funding can have the most impact.
PSU has already used UVDF funds to support several projects and start-up companies, and thanks to generous gifts received in 2011 and 2012 we are able to accept applications for many more.
The PSU UVDF is administered under three programs;
The Development Fund
This fund provides funding for technologies and research teams require small amounts of funding to develop a prototype, proof-of-concept or other "demonstration" of an innovative idea in order to spur on further development or interest in the technology. Through this program, PSU invests a limited amount of money in certain technologies, teams or projects to achieve specific development milestones.
The Promotion Fund
This fund provides faculty and research teams opportunities to travel to a company or conference to promote their innovation through targeted presentations. The fund may also be used to create an event on campus, support marketing and increased interaction with companies or others who might use an innovation or technology, and support entrepreurial education at PSU. Innovation is often adopted or spurred by social networks, and this fund promotes the creation and use of social networks.
The Facilitator Fund
Many startups face the daunting task of finding funding. In some cases the pursuit of funding results in investor relationships which draw the company out of Oregon. This program would provide a mechanism to grow and retain PSU companies in Portland and Oregon by providing a basis on which additional capital can be leveraged.
Applications for UVDF funding are accepted on a rolling basis.