The MSU Innovation Center is proud to manage and administer the ADVANCE Grant Program sponsored by Michigan Economic Development Corporation (MEDC) on behalf of all public universities throughout the State of Michigan. This university early stage proof-of-concept fund is designed to closely align with other programs (e.g. MTRAC, T3N, First Capital Fund), as well as angel and venture capital within the State to provide a pipeline of de-risked technologies and fundable startup opportunities for further advancement. The ADVANCE Grant program, like MTRAC, will provide a strong incentive for faculty with early stage technologies at the Michigan public universities to engage with their university’s TTO and commercialization activities. Technologies, TTOs and inventors that receive funding under the ADVANCE Grant Program will benefit through achievement of critical early stage milestones such as proof-of-concept or market opportunity validation which will lead to follow-on commercialization activities.
PURPOSE OF FUNDS
Data have shown that successful university TTOs must now actively advance portfolio technologies instead of merely screening, protecting, and marketing technologies. There is currently a gap in the capital continuum in the State that the ADVANCE Grant Program will fill. These funds will be used at an early stage (TRL 1-4) to determine the most actionable market application, the most viable business model, and confirm the proof-of-concept for a targeted application with our customer discovery process. These funds will be matched and complimented 1:1 by university “gap” funds to further de-risk these early stage technologies. Funds will be used for a variety of opportunity development tasks such as market studies, consultants, customer discovery efforts, and detailed IP analysis and prototype development.
Successful projects will advance or “move the needle” toward a commercial opportunity through achievement of early commercial or business milestones such as proof-of-concept or market or business model validation. Achievement of these early milestones, which are difficult to attract funding for through alternate sources, will make them more attractive for licensing and enhance the selection process for projects eligible for translational programs like MTRAC or Coulter. The funds will also allow the tech transfer offices to continue their customer discovery and market assessment of projects as a natural complement to the technical readiness work of MTRAC to maximize commercialization success and also focus effort for effective startup formation processes and attraction of pre-seed funding, SBIR/STTR and other new venture funding. The ADVANCE Grant Program is targeted at high-value technology sectors represented by the research portfolios at the public universities across the State including but not limited to:
- Innovations in Life Science and healthcare including diagnostics, therapeutics, and medical devices;
- Advanced Automotive Manufacturing;
- Biotechnology and Agricultural Processing Technology;
- Advanced Materials;
- Alternative Energy;
- Homeland Security and Defense Technology.
OPERATION OF THE FUNDS
The ADVANCE Grant program is run as a semi-rolling funding program. Proposals may be submitted at any time by the office responsible for technology commercialization (such as established TTOs or Research Offices) at universities throughout the State. On approximately a bi-monthly frequency, the proposals submitted will be reviewed by the Project Evaluation Committee.
- Applicants must be from institutions of higher education in the State of Michigan
- The relevant technology must have an invention disclosure filed and have an identified commercial application
- Grant applications may be submitted at any time. Applications will be reviewed on a rolling basis.
- Typical applications for these funds will be prototyping, customer discovery, market application research, animal studies, detailed IP analysis, etc.
- Project funding requests may be submitted up to $80,000 of which $40,000 is supplied by the Program and $40,000 matched by the university. Grant dollars supplied by the program must be matched dollar for dollar by the university.
- Projects involving optioned or licensed technologies are ineligible for funding.
Approved project funds will be transferred to the applicant university after being approved by the Project Evaluation Committee and university matching funds have been deposited in a dedicated spending account for the project. Funds must be spent within the approved timeline. No-cost extensions will be considered on a case-by-case basis.
Applications have a rolling deadline. Please download documents listed below and return them to Ann Spalding (ADVANCE Grant Program Administrator) via e-mail attachment to firstname.lastname@example.org.
Project proposals will be judged and scored on the following criteria:
- Fitness against the objectives of the ADVANCE program
- Technical and Commercial feasibility of the proposed scope of work
- Ability of the proposed scope of work to meaningfully advance the university invention to a commercial outcome as measured by a license or startup formation.
For more information, please email program administrator Ms. Ann Spalding at email@example.com or phone 517.884.1605.