September 15, 2023
Trask Innovation Fund to award researchers up to $50,000 to enhance Purdue intellectual property
Funding will be awarded to short-term projects that move innovations closer to marketplace commercialization
WEST LAFAYETTE, Ind. – Up to $50,000 is available to Purdue University researchers at all campuses to develop their innovations for the marketplace.
The Trask Innovation Fund supports short-term projects that enhance the commercial value of Purdue intellectual property. Inventors have until Sept. 22 to apply.
The Purdue Innovates Office of Technology Commercialization will review submitted proposals to determine recipients and award amounts. Criteria include the significance of the invention, its stage of development, its commercialization appeal, the path to commercialization, the intellectual property landscape and the applicant’s commitment to commercialization.
All Purdue faculty, staff and researchers who have submitted a disclosure to OTC are eligible to submit proposals. More information about Trask Innovation Fund eligibility and submission guidelines is available online.
Applications for the Trask Innovation Fund must be submitted through the Sponsored Program Services Pre-Award Center.
There are three Trask Innovation Fund tracks:
Innovation Sparks for Life Science and Medical Devices. Eligible innovations are life sciences and medical devices applications including, but not limited to, therapeutics, drug discovery and development, diagnostics, and agriculture. The technology must not be under any option or license.
Innovation Sparks for Physical Sciences. Eligible innovations are engineering, chemistry and computer sciences applications and other fields outside of life sciences. The technology must not be under any option or license.
Commercialization Partner Spark. Technologies in any domain are eligible if OTC has signed an option agreement with a potential licensee or the applicant is engaged with PRF to establish a commercialization partnership and will sign an option for the technology before receiving Trask funding.
Abhijit Karve, OTC’s director of business development, said the funding supports projects to make intellectual property even more appealing to companies.
“The additional validation these projects provide often are what companies want to see before they license intellectual property,” Karve said. “Previous Trask funding has been used by Purdue researchers to develop prototypes, conduct tests, support students and generate data.”
About the Purdue Innovates Office of Technology Commercialization
The Purdue Innovates Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university’s academic activities through commercializing, licensing and protecting Purdue intellectual property. In fiscal year 2022, the office reported 157 deals finalized with 237 technologies signed, 379 disclosures received and 169 issued U.S. patents. The office is managed by the Purdue Research Foundation, which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. In 2020, IPWatchdog Institute ranked Purdue third nationally in startup creation and in the top 20 for patents. The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Contact firstname.lastname@example.org for more information.
Writer/Media contact: Steve Martin, email@example.com
Source: Abhijit Karve, firstname.lastname@example.org