Great ideas sometimes need a little help to become reality. The Commercialization Catalyst (CC) Award at BGSU aims to give that boost by providing the funding necessary to bring the results of faculty and student research and creative activity to the marketplace.
The CC Award program is a collaborative effort between BGSU’s Dallas-Hamilton Center for Entrepreneurship and Innovation and Office of the Vice Provost for Research and the Regional Growth Partnership (RGP). It’s designed to provide the initial resources to assist in commercialization of intellectual property developed at and previously disclosed to BGSU.
Two awards are available in amounts up to $25,000 each. Awards will be made for a 12-month period, but may be extended and/or renewed. Funding will be contingent on successful progression of the project toward two key factors: achieving commercialization potential and progressing along the projected timelines.
“The award will support entrepreneurial faculty members at BGSU who want their ideas and research to have an economic impact. This award will bring together the expertise at BGSU and of our partners at the Regional Growth Partnership to commercialize inventions developed by the students, faculty and staff of the University. Our economic times demand that we become pro-active in this area,” said Dr. Deanne Snavely, interim vice provost for research and dean of the Graduate College.
Pre-proposal concept papers will be reviewed in September. Based on this review, a submission of full proposals will be invited. The CC Advisory Board will review those proposals and select three to five finalists. Finalists will be announced in October. They will present a proposal to the board that shows the commercialization potential of the project. Awards will be announced in November.
Priority will be given to proposals paralleling the Ohio Third Frontier focus areas and aligning with the investment criteria of the RGP.
The project period runs from January-December 2011. The RGP and Rocket Ventures will act as a resource to BGSU faculty, providing communication, guidance and leadership.