Better tests for Norovirus, lighter, stronger armor for soldiers, faster download speeds for smartphones, brewing beer from newly discovered yeasts, and growing therapeutic lung stem cells to make breathing easier – these NC State breakthroughs are one step closer to becoming reality thanks to help from the Chancellor’s Innovation Fund.
Established in 2010 by NC State with the support of Chancellor William R. (Randy) Woodson, the Chancellor’s Innovation Fund (CIF) awards up to $75,000 to support short-term commercially-focused research projects. The CIF assists NC State innovators with reduction to practice and technology development needed to strengthen the commercial potential of intellectual property disclosed to the Office of Technology Commercialization and New Ventures (OTCNV).
CIF Impact Through FY16
$2 million awarded to 35 projects
$12 million in follow on funding
12 startups launched
$983,500 in licensing revenue
17 commercialization agreements executed
Read more about previous Chancellor’s Innovation Fund successes.
CIF Application Process
The CIF application process consists of three rounds: pre-proposal, full proposal, and the Innovator’s Pitch presentation.
All NC State innovators eligible to serve as a Principal Investigator can apply to the CIF. An invention disclosure for the technology must be on file with the Office of Technology Commercialization and New Ventures (OTCNV) by the pre-proposal submission deadline.
The underlying technology is ineligible if it is already licensed, under option, or otherwise encumbered in the same field of use as the proposed project. Individuals serving as lead PIs on previous CIF awards will not be eligible for CIF funding in the following year.
CIF pre-proposals and proposals will be reviewed based on the following criteria:
- IP Status/Strength
- Market Opportunity
- Impact of award on licensability or commercial potential
Schedule for CIF Fiscal Year 2018
- November 15, 2016 – Pre-proposal submission deadline
- January 20, 2017 – Semi-finalists notified
- February 24, 2017 – Full proposal submission deadline
- April 4, 2017 – Finalists notified
- May 10, 2017 – Innovator’s Pitch presentation to CIF Selection Committee
- Week of June 1st, 2017 – CIF award winners notified
- Week of June 5th, 2017 – CIF award winners kickoff meeting
- July 1, 2017 – CIF award period begins
Pre-proposals should be generated using the CIF 2018 Pre-proposal template and should be no more than two pages in length. Please submit an invention disclosure to the OTCNV for the technology related to the pre-proposal if you have not already done so. Pre-proposals will be evaluated based on the above CIF Program Criteria. 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, and does it completely eliminate it, or does it only mitigate? If so, to what degree?
- What do you expect your solution is worth to those who are experiencing the problem?
- 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?
Pre-proposals do not have to be entered into PINS. They should be sent electronically to CIFprogram1@ncsu.edu.
Pre-proposals that pass the internal screening are reviewed and scored by external subject matter experts. Innovators with pre-proposals that best fit the evaluation criteria are invited to submit a full project proposal as semi-finalists.
Full Proposal Round
The full proposal is a more detailed explanation of the proposed project and how it will enhance the commercialization potential of the technology, including a budget and timeline. Full proposals should be no more than five pages in length, not including appendices and supporting documents, and must be submitted via PINS.
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.
Semi-finalist Innovators who are not selected to move on to the finalist presentation round will receive a written summary of external reviewer comments.
Innovator’s Pitch Presentation Round
Finalists will be invited to make an Innovator’s Pitch presentation to the CIF Selection Committee.
The Innovator’s Pitch is a 10 minute 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 their OTCNV licensing professional 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 Vice Chancellor for Research, Innovation, and Economic Development. Final CIF award selections are made by the Vice Chancellor and Chancellor. CIF award notifications will be made to Innovators via email.
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.
Terms of Award
All 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 Catherine Sutton, the CIF Program Manager, and their OTCNV licensing professional to review progress and prepare for industry engagement.
One to two page progress reports must be submitted quarterly, and a final report must be submitted within thirty (30) days of the award period, to Catherine Sutton, 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.
Catherine Sutton, Ph.D, Licensing Associate, CIF Program Manager.
Phone: (919) 513-1316