The Accelerator Award program consists of proposal submission, committee review, invitation of finalists to present the proposals, selection of awardees, connection of awardees with external industry experts, final assessment and approval of budgets, release of funding to participating college, and reporting of results at two intervals. Award competitions will be announced up to three times each year.
Submission of an application can be made through Innovate and must be received by 10:00 PM, December 27, 2016. Applications consist of an Accelerator Award coversheet, work plan, and budget (see below). Licensing Managers at the TCO are available to assist with the application and support the inventors throughout the process.
The Accelerator Awards Review Committee is comprised of venture capital, business, and industry experts who will review and evaluate submissions. Technologies will be selected based upon commercial potential, impact of funding, budget, and timeline requirements.
After initial review, the Committee will select finalists and offer each the opportunity to present his or her application in person. Finalists may present as an individual or a team. A proxy from the OSU community may present on behalf of the inventor.
Selection of Awardees
The Committee will discuss finalists’ technologies after all presentations are made. Selection of awardees is not limited to a certain number of applicants or a predetermined award budget for the cycle. The Committee is seeking the technologies with the most promising commercialization potential. Following the decision of the Committee, applicants shall be notified of their award status. Applicants who do not receive an award may reapply for a subsequent funding cycle if they wish to be reconsidered.
Once awardees are selected, each is required to assemble a project team to enhance the probability of success. The awardee will be assigned a Project Manager to coordinate timeframes, budget and milestones. Award recipients will also be asked to choose an industry expert to help guide the technology toward a commercial outcome. The Project Manager must approve the industry expert and will help identify an expert if required.
Final Budget Approval
The work plan and proposed budget submitted with the application must be sufficiently detailed to be understood independently of the presentation to the Accelerator Review Committee. The budget must be proposed and used only for permitted services and activities. Please note that the budget section in each application will be examined and may be modified (if appropriate) by the Committee during the review of the applications.