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'Bear Cub Fund' to bolster University research
Individual awards to be available to faculty to kindle development By Andy Clendennen In an effort to make University research more widely accessible to the public, a research development fund has been formed that will support faculty awards for applied studies not normally funded by the National Institutes of Health, the National Science Foundation or other grant-funding sources. The purpose of the "Bear Cub Fund" -- in which individual awards will be made available to University faculty -- is to support research or development that is designed to extend basic observations to make them more attractive for licensing by commercial entities, or to serve as the "foundation" for a startup company.
University researchers have many basic observations or concepts that have been patented and have commercial potential, either through licensing or the formation of a startup company. But often, further studies are required to fulfill the "proof of concept" required by most investors. Because the University is a nonprofit institution receiving federal support, it can't fund further research to satisfy proof of concept from federal research funding. Rather, nonfederal or private sources of money are needed to make that happen. Now, the University has a nonfederal source for these efforts. "Chancellor Mark S. Wrighton and I have been discussing this research development fund for the last three or four years, and this was the first time we've had some money available," Cicero said. "We're really hoping it will permit us to bring technology much more rapidly to the commercial sector than it is right now. "We want to enhance the commercial appeal of our technologies either in terms of a license with a company, or potentially more exciting for us is the potential that this could form the basis for a startup company." Individual awards of $20,000-$60,000 are intended to provide support for supplies and/or salary for technical help to support short-term research projects of one year or less. The only requirement for submission is that the technology has been previously disclosed in an invention disclosure to the Office of Technology Management. A University review committee operating through the Office of Research will make award decisions based on scientific and business merit. "There's a very serious limit on venture-capital groups investing in this type of research," Cicero said. "They usually want a much later stage of technology that at least shows documented proof of concept. We're talking about so-called pre-seed funds here, which are typically very difficult to secure. Hopefully, the Bear Cub Fund enables us to fund a limited number of such efforts. "Right now, we're not getting optimal value for our technology. It's not getting out to the commercial sector as rapidly as it should." Faculty members interested in an application form for the awards should go online to ctm.wustl.edu/bearcub or call 747-0920. |
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