Chancellor’s Innovation Fund

• Funding awarded: $50,000 per project
• Purpose: to support research expenses related to a CIF project
• Typical expenses: PI or senior personnel salary support, tuition expenses for student researchers, lab use fees, some equipment, materials and supplies

• Funding awarded: $46,500 per project
• Purpose: to support non-research expenses related to a CIF project to accelerate technology commercialization
• Typical expenses: Customer discovery travel, startup incorporation expenses, startup or pitch events, founder’s education, stipends for an embedded entrepreneur, regulatory consulting, etc.

Proposals should be generated using the CIF proposal template and should be three to five pages in length, not including a budget, appendices and supporting documents.

Please submit an invention disclosure to the ORC for the technology related to the proposal prior to the proposal submission deadline if you have not already done so.

Proposals will be evaluated based on the CIF Program Criteria, including:

• Feasibility
• IP Status/Strength
• Market Opportunity
• Impact of Award on Licensability or Commercial Potential.

Applicants should consider the following:

• What is the market problem that your technology will address?
• What are the consequences of the problem (time, money, wasted resources, etc.)? Quantify where possible.
• How is the problem currently being addressed, and why is this inadequate?
• How does your solution address the outlined problem? Does it completely eliminate it, or does it only mitigate, and if so, to what degree? How will it be integrated into existing processes?
• What do you expect your solution is worth to those who are experiencing the problem?
• Have you engaged with any commercial partners? What feedback have you gotten from industry?
• What specific research milestones are you seeking to reach that are of interest to potential commercialization partners?
• How were the milestones determined? Were they requested by potential partners? Are they general industry standards?

Initial proposal submissions must be entered into PINS. Proposals should be sent electronically to CIFprogram1@ncsu.edu and submitted to PINS for departmental approval prior to the submission deadline.

Proposals that pass the internal screening are reviewed and scored by external subject matter experts. Innovators with proposals that best fit the evaluation criteria are invited to submit a quick project pitch as semi-finalists.

The Innovator Quick Pitch is a five minute pitch outlining the proposed CIF project and how funding will enhance the commercialization potential of the technology.

All full proposals undergo review by external subject matter experts who evaluate which projects best fit the CIF Program Criteria. This review will lead to the identification of the CIF finalists, who will be invited to give an Innovator’s Pitch Presentation during the Spring semester.

Semi-finalist innovators who are not selected to move on to the finalist presentation round will receive a written summary of external reviewer comments.

Finalists will be invited to make an Innovator’s Pitch presentation to the CIF Selection Committee.

The Innovator’s Pitch is a sevenminute presentation that outlines how the proposed project will accelerate the commercialization of the underlying technology, with a brief period for questions and answers. This is not an academic presentation of the science behind the technology. The pitch should briefly describe the technology and focus on the commercial opportunity that it represents and how the CIF funding will facilitate commercialization. Innovators work with the ORC team to prepare for the pitch.

The CIF Selection Committee consists of reviewers from external partners and NC State personnel with technology development, commercialization and entrepreneurial expertise. The CIF Selection Committee will make award recommendations to the Chancellor’s Office.

Finalist Innovators who are not selected for a CIF award will be provided with detailed written feedback from the CIF Selection Committee along with any recommended resources to support their project.

CIF awards begin on July 1st of the award year and projects and funds must be completed/expended within 12 months from the date of award. Award recipients may submit a written request for a one-time, no-cost extension no later than month 10 of the 12-month award period.

Award recipients will be required to meet regularly with the CIF program manager and their ORC licensing professional to review progress and prepare for industry engagement. A final report must be submitted within thirty (30) days of the award period to the CIF program manager.

If qualifying matching funds are received from either the associated college and/or department, the share of future license revenue for that unit(s), as described in NC State’s Patent Policy and Royalty Sharing Regulation, will be increased up to a maximum of 10%. A qualifying match is defined as funding provided by the college or department that is equal to or greater than the amount requested in the CIF proposal. The provision of work release or equipment for CIF proposals is not considered a qualifying match.