Venture Competition Call for Proposals

  • January 20, 2012

CALL FOR PROPOSALS

UCLA Business of Science Center

2012 Spring Venture Competition

INTRODUCTION

The Competition. UCLA Business of Science Center (BSC) announces a call for proposals for the 2012 Spring UCLA BSC Venture Competition. The BSC invites the UCLA scientific, engineering, and business communities to submit descriptions of innovative medical technologies to compete for $20,000 proof-of-concept funding. This is the second competition hosted by the BSC after a successful launch in 2011 with $20,000 each awarded in cash prizes to two winning teams. Finalists of the 2012 spring competition will be partnered with a Venture Team, consisting of Ph.D. and MBA students under the guidance of an industry expert, who will analyze the commercial potential of the technology. The team will present their findings to a screening panel comprised of investors, industry executives and local business leaders. The winning technology will receive $20,000 proof-of-concept funding, mentorship from industry professionals, project support from the BSC, and a unique presentation opportunity at the Southern California Biomedical Council (SoCalBio) Annual Investors Conference in Fall 2012. Participants are encouraged to attend the ongoing workshops and monthly panels hosted by the BSC that support this process.

UCLA Business of Science Center. The mission of the UCLA Business of Science Center (BSC) is to prepare scientific, engineering, and business graduate students for careers in the private sector; to assist university faculty and clinicians in technology transfer; and to serve as a catalyst for increased industry support and involvement on campus. We believe this will foster a culture of innovation and maximize the impact of UCLA research on society. BSC “Venture Teams,” comprised of life science and engineering graduate students and post docs, Anderson business students, and industry mentors, work with faculty inventors to assess the viability of licensing and business creation.

Eligibility
Applicants may be U.S. citizens, U.S. permanent residents, or non-U.S. citizens and the lead PI or at least one team member must be a UCLA research community member. Submissions must be protected by provisional patent application or patent, filed by the UCLA Office of Intellectual Property (OIP). If an invention has not been disclosed to UCLA OIP, please visit the OIP website https://oip.ucla.edu/academic-community/report-a-new-invention; file an invention report, and contact Emily Loughran at UCLA OIP PRIOR TO THE SUBMISSION (ELoughran@research.ucla.edu).

General Guidelines

Applications are encouraged from a variety of medical disciplines such as, but not limited to, medical devices, diagnostics, and therapeutics. Other topics of interest include innovative lab or related processes and equipment.

Applicants are encouraged to submit innovations that:

  • are novel,
  • are useful and address an identifiable need, and
  • are protected by a provisional patent application or awarded patent.

Projects are anticipated to range from early stage to those that are ready for market. All projects within this range are acceptable for submission.

Application Deadline and Schedule

17-Jan Call for Proposals Distribution Tuesday
28-Feb Submission Deadline Tuesday
Mid-May Finalists Presentation to Screening Panel TBA

Reviewers and Judges

BSC Venture Competition submissions will be reviewed by a cross-functional team of students and industry experts under the guidance of BSC faculty and mentors, intellectual property attorneys, and UCLA Office of Intellectual Property. Finalists will present to a panel comprised of investors, industry executives and local business leaders.

ANY INFORMATION THAT IS NOT COVERED IN THE LANGUAGE OF A PROVISIONAL PATENT OR FINAL PATENT SHOULD NOT BE SUBMITTED. (You are advised to speak to Emily Loughran at UCLA OIP, ELoughran@research.ucla.edu if you are unsure about the status of your invention.

Funding

Award for the winning Venture is $20,000. Funds will be released to the winning PI upon written agreement to update the BSC of project progress at six-month anniversary of funding. Funds must be used for direct proof-of-concept costs such as materials, supplies, personnel (other than PI/collaborator salaries), and travel to the extent that such expenses are directly related to the proposed project. The intended purpose of these proof-of-concept funds is to enable activities related to proving out the commercial viability of the technology, as well as to contribute towards an early milestone in technology development.

SUBMISSION INSTRUCTIONS

Please carefully read the Submission Instructions listed below prior to submitting proposals.

  1. Cover Sheet.Principal Investigator (PI) and Co-PI names, contact information, relationship with UCLA, the project name, and the UCLA Office of Intellectual Property filing ID number.
  2. Project Essay Focused on Market Need. (500 words, maximum)Please include: Project title, technology description, and market need. Please address the following questions to the best of your knowledge: how this technology advances the current state of applied knowledge in the field of medicine, the potential applications for this technology, the size of the addressable market, and potential licensing partners or purchasers. Consider who would buy or license the technology and what value it brings to them and/or their customer. The project phase should be clearly stated. You may wish to discuss collaborators if this demonstrates multiple applications or markets for the technology, or if it provides technology validation. Applicants must present a clear and well supported description about what need the technology answers, as well as secondary uses where applicable.
  3. UCLA Office of Intellectual Property Abstract and US Patent Number(s) if applicable
  4. Submission Details
    • The proposal elements should be a submitted in a single PDF document.
    • The deadline for submission is 11:59pm PST on February 28, 2012.
    • Applicants are encouraged to submit proposals in advance of the deadline.
    • Submissions must be sent to BSC@mednet.ucla.edu.
    • Please include last name and first initial in the submitted document name (example, Smith_M_proposal.pdf).

Obligations of Prize Recipient(s)

At the six-month anniversary of the funding, the recipient shall provide a short written update (250 words) to the BSC summarizing project progress. Two short interim presentations to the BSC regarding project progress and challenges will be scheduled.

Contact Information

Applicants are encouraged to contact the BSC with questions. For additional information, please visit our website www.bsc.ucla.edu or contact us at bsc@mednet.ucla.edu or (310) 206-8611. If you do not receive a submission confirmation message, please contact us.


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