The criteria for selection include positive answers for the following:
- Will funding help move the technology towards commercialization?
- Is the project based on research results that are novel, unique, and form the basis of a potentially disruptive technology/product/solution?
- What is the likelihood of technological success? Is the scope appropriate for the budget? High risk is OK, as long as feasibility can be determined within one year.
- Is there a proof of concept already? Is there likely a clear path to success – for example IP, device, code, etc.? Is this technology likely to result in a start-up within 1 year? 2-3 years?
- Is there an opportunity for creating new IP? Is there likelihood of developing an IP portfolio?
- Is there a strong market need or potential impact? Does this technology have a high likelihood of being licensed? Is there a business model that makes sense?
- Would this technology have broad, fundamental implications? Cross-disciplinary applications are especially desirable.
- Is support (such as such as funding, partnerships, and mentoring) critical to the success of this idea?
- Is the PI eager to participate in programs and partnerships to increase the likelihood of commercialization? Will the PI be a role model in encouraging innovation and entrepreneurship in his/her laboratory or department?
- Is there confirmed interest to the results of the project from industry, investors, etc. ? Letters of support from potential customers would be of significant advantage.