News and Events > TTO Announces Proof of Concept Program

TTO Announces Proof of Concept Program

July 19, 2004

The University of Colorado's Technology Transfer Office (TTO) announces a new funding program designed to move ideas from the lab to the marketplace. The Proof-of-Concept program (POC) will make "seed" investments ranging from $50,000 - $100,000 in promising technologies that could become the basis for a start-up company. A CU faculty member, or an entrepreneur working with a CU faculty member, must submit proposals by August 31, 2004.

To apply, please fill out the POC Application Form and send to: David.Drake@cu.edu.

One of the most difficult challenges facing CU faculty-entrepreneurs is access to capital during the proof-of-concept and commercial feasibility phases of their research. This scarcity of funds between basic and applied research constitutes a developmental gap where critical studies needed to transition technology to commercial applications languish or are not performed. The POC program is designed to fill this gap by providing funds to accelerate market-driven research and obtain important information to establish technical and commercial viability.

The program will be managed by University License Equity Holdings, Inc. (ULEHI), the non-profit organization that manages private equity for CU and helps facilitate the creation of startup companies from discoveries made at the University. ULEHI will manage the program and oversee a committee of seed/early-stage investors from the private sector who will make final investment decisions.

Faculty inventors should submit funding proposals directly to David Drake, Executive Director of ULEHI where they will be screened based on their market potential, significance of the milestone(s) funded, and the quality of the commercial development plan. Proposals will then be submitted to an Investment Advisory Committee (IAC) comprised of members of the venture capital community with investment experience in the scientific area being considered. Faculty and entrepreneurs seeking funding will have the opportunity to present their proposal to the IAC in the form of a 20-minute PowerPoint presentation and 10 minute question and answer period.

If you have questions regarding the program, or seek additional information or assistance with your start-up company idea, please contact David Drake at: 303-735-1085 or David.Drake@cu.edu.