Every day breakthrough innovations occur at The Ohio State University and sometimes these inventions need just a small amount of capital for further development. Seeing this need for proof of concept funding, the Technology Commercialization Office, Office of Research, and TechColumbus are implementing a new funding program known as the Accelerator Awards.
The Accelerator Awards will provide a small amount of fast and flexible capital to Ohio State researchers to further develop and validate their inventions, software, and technologies. With the idea that small amounts of strategically focused capital can make a big difference toward the start of commercialization, the Accelerator Awards will provide faculty, postdoctoral and graduate student researchers a first step in concept development, prototyping, and coding toward the proof of concept of an invention.
“These awards are really focused on developing first or second generation prototypes for research studies that need proof-of-concept validation,” said Tim Wright, Vice President of Technology Commercialization. “Together with Vice President of Research, Caroline Whitacre, and the leadership at TechColumbus, we saw a need to implement this program and give researchers and inventors a boost in providing the next step in the commercialization process.”
The awards— to be distributed in amounts up to $50,000 are available to all Ohio State researchers for the development of technologies. These awards will be granted twice each year. Applicants are encourage to request only the amount of funding they require to accomplish their specific goal(s) as the fund is limited, thus making smaller requests more feasible to award.
“It’s truly amazing what a small amount of focused money can do,” said, Dr. Monica Giusti, an Associate Professor in the Department of Food, Science, and Technology who has a extensive experience collaborating with industry. “The Accelerator Award program is truly a great initiative; this infusion of dollars will be a great resource to truly get an idea off the ground and into the proof of concept phase, a vital step when working with industry.”
The awards are intended to be reviewed on a regular basis so an expedited decision can be reached. To apply for an Accelerator Award complete the application available online at https://innovate.osu.edu/form/grant_apps/.