Universities
engage primarily in basic research, the goal of which is not necessarily
to address commercial problems. Therefore, technology developed from
this research is usually nascent and needs to be further developed
to a point where a potential commercial partner can assess its commercial
applications and value. Taking a technology from a university laboratory
to a point where a commercial partner may be interested requires an
investment of time, effort and money. In order to address the capital
side of the equation, the CSURF Commercial Opportunity Fund (COF)
was established by the CSURF Board of Trustees by unanimous vote in
2004. The purpose of COF is to provide monetary support to increase
the probability for commercial success of promising and commercially
viable technologies. In order to qualify to receive the funds, the
following eligibility criteria must be fulfilled.
1. The technology must have been disclosed to CSURF’s Technology
Transfer Office.
2. The inventors listed on the disclosure must be “Members”
under Section J of CSU’s Faculty/Staff Manual or be willing
to assign all their rights in the technology to CSURF.
3. Annually, no more than one proposal per technology/invention
disclosure will be accepted.
4. Five copies of the Proposal must be submitted to the CSURF Technology
Transfer Office with
all required information.
Due to the limited funds available, the typical budget for each
project should be less than $20,000 per year. Evaluation criteria
to be used by CSURF in making awards are:
1. Commercial Viability. Only technologies with strong commercial
potential will be funded.
A full description and analysis of the commercial potential is recommended.
2. Proximity to Completion/Improvement Funding. COF financial assistance
is not for basic
research activities but rather for developing technologies to the
point that they are
commercially attractive.
3. Positioning/Market Research. Funding may be used to help “position”
the technology for
commercialization. An explanation of how funding would be used to
“position” the
technology for commercialization or be used for the next step in
the commercialization
process is recommended.
4. Adequacy. Consideration will be given as to whether the amount
requested is adequate
for the proposed work, i.e., is the amount sufficient to complete
the project and/or make
a difference in commercialization efforts?
Periodic progress reports from recipients of COF are required by
the CSURF Board. In addition, recipients will work with the Technology
Transfer Office to develop a strategic plan for commercialization.
Unless otherwise agreed to prior to funding, COF financial assistance
amounts will be recovered as direct expenses of CSURF as quickly
as possible and before any net royalty or other income is distributed
in accordance with Section J of the University Faculty/Staff Manual.
Recovered amounts will be deposited back into COF to be made available
for future projects.
CSURF is very excited about having the Commercialization Opportunity
Fund available for technology development at Colorado State University.
We believe that COF provides a valuable and much needed tool in
the successful commercialization of technologies developed at the
University.
Prior to submitting a proposal, please call the Technology Transfer
Office at CSURF, 482-2916 to discuss the situations/projects which
you think might qualify for COF funding. The following template
should be used in writing the proposal:
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