Proof of Concept (POC) Grant Program
Request for Proposals Application submission will open on December 1, 2023.
The Proof-of-Concept (POC) Program combines early-stage commercialization grants and complementary resources to assist Virginia Tech researchers who want to increase the impact of their research and actively pursue the potential commercialization of technologies emerging from their labs. The POC Program provides competitive grants up to $50k and associated resources support these early stage activities.
The POC program is offered by LAUNCH, The Center for New Ventures with grant funding provided by Virginia Tech Intellectual Properties (VTIP). Learn more about the POC program, eligibility, and how to apply below.
Request for Proposals
Virginia Tech’s LAUNCH, in partnership with VTIP, is seeking a next round of proposals from Virginia Tech faculty, graduate students, and staff interested in moving novel early-stage technologies derived from university research out of the laboratory and into the marketplace through Proof-of-Concept (POC) activities and grant funding. Eligibility and award selection considerations are provided below.
Proposal Submission Due-Dates and Award Dates:
POC grant funding is awarded on a competitive basis. Our next POC Proposal submission deadline is January 31, 2024 with an anticipated grant award announcement date of March 22, 2024. Submission dates for subsequent academic years have not been established.
Program Benefits
Many technological breakthroughs from laboratory research never leave the lab due to lack of funds needed to support activities needed to begin the translation of lab-to-market. These activities are generally outside the scope of basic research funding. Existing companies and investors are unwilling to fund them due to the high level of risk and uncertainty associated with such nascent technologies. This divide forms a “gap” between public research funding and early stage commercialization funding. The POC program is designed to help fill that gap.
Virginia Tech’s POC program supports activities intended to reduce the uncertainty of potential commercial opportunity. What does the technology accomplish, and does it work? What problem does it solve and what new value will it create? Who would buy it and why? Exploring these and other questions are part of the “proof-of-concept” process for new technology commercialization.
The POC program is ideally suited for teams that include one or more eligible PhD students and postdoctoral researchers who are eager to take a leadership role in their proposed POC project and willing to explore the possibilities of participating in a startup formed to pursue lab-to-market commercialization. POC projects will involve activities outside the scope of federally funded basic research, including “business” related activities. POC Project teams will be introduced to market-focused methodologies that enable validation of the commercial opportunity and the creation of business models. This exposure provides access to new skills and experiences valued in the innovation ecosystem. Additional benefits provided to POC Program awardees include:
- One-on-one support and commercialization mentorship from LAUNCH, the Center for New Ventures
- Opportunities to participate in innovation related programming and events offered by Virginia Tech’s Innovation and Partnerships and other regional innovation ecosystem organizations
Recognition as a POC Team grant awardee in promotional materials and the Office of Research and Innovation celebration events
Invitations to participate in professional development workshops offered by LICENSE, the Center for technology Commercialization and LAUNCH, the Center for New Ventures
Optional NSF Innovation Corps (I-Corps) experiential training courses on the customer discovery process (I-Corps regional Short Course) and opportunities to apply for the I-Corps National Cohort program and $50k of NSF funding.
Opportunity to apply for additional VIPC (VA State) commercialization funding using your POC grant as matching funds
Experience generating business models applicable to your POC commercialization target and applying customer discovery methodologies to validate market assumptions
Networking opportunities with other POC program participants
Next Proposal Deadline: January 31, 2024.
Application submission will open on December 1, 2023.
How to apply
Complete the proposal application short-form using the link below. You must be logged into the Virginia Tech system to access the form.
The end of the form requires uploading a written POC Project Proposal. Please have your project proposal completed and ready to submit as you complete the on-line form, as your application session cannot be saved.
Your written POC Project Proposal should be < 6 pages in length (excluding any attachments), single spaced, 12pt font, submitted as a pdf file. Your written POC Project Proposal should include the following sections:
- Title of your Proposed POC Project (< 10 words suggested).
- VTIP Disclosure No. – Project eligibility for POC grant funds requires prior submission of a Virginia Tech Intellectual Property Disclosure on the relevant technology to be commercialized. To help us accurately connect your POC proposal to the applicable disclosure(s), please identify the applicable VTIP Disclosure Numbers assigned (example: #20-022), the date of your disclosure submission, and the title of the disclosure(s). If you are unsure of the assigned Disclosure No., contact VTIP at vtippatents@vtip.org or call Katherine Nicewander, VTIP’s IP Specialist, at (540) 232-8749.
- POC Proposal Team - Identify the Project Leader for your proposed POC project (see eligibility and responsibilities above), and list all POC project team members. Include the position title and a link to a suitable on-line bio for each. Please be parsimonious in the space you dedicate to this section (¼ page total recommended). If there is relevant commercialization experience represented within the team, please describe. Please do not include any full bio’s for any POC team members in the written project proposal.
- Description of the Technology & Benefits – The Review Committee will have access to your VTIP Disclosure(s), so the summary of the technology does not require detail or elaborate tables/graphs already provided in the disclosure. The technology description should be brief and easy to understand (approx. ½ to 1 page recommended) with clear articulation of the functionality of the technology. If this new technology solves an existing problem, please briefly define it. Since your POC project is directed to commercialization, please emphasize any relevant points of novelty and the specific user/customer benefits you believe this novelty provides (examples: smaller, faster, cheaper, more convenient, etc.).
- Prototype Status - Provide a short description of any prototyping status of the technology (< ½ page). This would include any simulations, modeling or other progress towards a functional prototype. If there is no prototype and one of the proposed POC project objectives is to build a first prototype, please explain the needed the prototyping activities.
- The Contemplated Commercial Opportunity – Please identify the commercial opportunity for the technology as currently contemplated (≤ ½ page). If commercialized, who would likely purchase it and why?
- The Proposed Project – This should be the largest section in your proposal (2-3 pages), specifying what you wish to accomplish with POC grant funds. Please define specific non-research related objectives intended to reduce risk (increase confidence) in commercialization of the technology. A strong proposal will have at least one objective directed to increasing confidence in the commercial opportunity (i.e., reducing speculation) and at least one objective directed to increasing confidence in the technology (example: build, test or enhance a working prototype). After specifying an objective in your proposal, identify the project activities and milestones for achieving that objective and the proposed measure(s) that will be used to determine if the objective is accomplished. Provide a target date or timeframe for milestone completion. Example: Objective: Validate the commercial opportunity in preparation for a SBIR Grant application. Activities & Milestones: (i) complete the I-Corps short-course in semester x; (ii) build a target user/customer interview questionnaire directed to target users of the technology by (date), (iii) Interview 5 people each week in the target user group for 8 consecutive weeks (40+ people), (iv) interpret results (date). Measure: at least 60% of those interviewed said that this technology, if commercialized, would solve a problem that they or someone in their organization directly experienced. In this simplified example, a second objective could be to prepare an SBIR grant application or an alternative next-round funding application (accelerator, STTR, etc.) that leverages what was learned in the interview process.
- Proposed POC Project Budget (up to $50k). Please summarize how the POC grant funds would be spent (< ½ page) and over what time periods. All POC projects should be planned for full completion in 12 months or less, and funding is split into 2 payments, with the second payment triggered by a milestone completion. POC funds cannot be used to cover AY or summer salary for T&R faculty, but can be used for support of graduate student(s) or postdocs specifically working on POC project activities or for funding for external resources needed to meet specific POC project objectives (example: purchase of components needed for a POC prototype).
- Anticipated Next Step(s) after POC – Describe what you believe would be the next steps towards commercialization following completion of your proposed POC project (approx. < ½ page). One of the primary goals of the POC program is to successfully position the technology for next-round of commercialization funding, so target next-round funding should be addressed.
- Note: the POC proposal should not be submitted through SUMMIT. Use the link below for submission.