Seed Fund Program
UTMB invites applications for the Office of Technology Transfer Business Acceleration program to promote commercialization of technologies developed at UTMB. The program is intended to encourage UTMB entrepreneurs to form start-up companies around technologies developed at UTMB.
The main objective of the seed program, created by the President, is to provide an "initial capital" to a UTMB-based start-up company to achieve certain technical and business milestones, leading towards commercialization. Awards are designed to assist in the transfer of UTMB's innovative technologies to the commercial sector. Technologies can include patentable inventions or software. The program is not intended to support basic research but instead provides funds to reduce inventions to practice and help with activities which will make the technologies marketable. The objective is also to enhance the start-up company's position to attract future funding from Angel investors and Venture capitalists. Projects will be selected based on the technological and business potential of the new company.
Supporting such technology development and start-up activity will benefit faculty and the university. Benefits include improving public health, ensuring faculty ideas and innovations actually realize their full market potential and delivering revenue back to the university. Additionally, formation of start-up companies will benefit economic development in the Galveston area by promoting the creation of new jobs and commercial activity.
Applications will only be accepted from the startup company. A full-time UTMB faculty member(s) should have an ownership position in the start-up company. The faculty member should have previously submitted a UTMB Invention Disclosure describing the technology and the company should have licensed rights or options to that technology. The company should be located in Galveston County.
Application Procedures and Evaluation Criteria:
Applicants should meet with Office of Technology Transfer personnel to discuss their proposal prior to preparation and submission. Applications and proposals may be submitted by faculty members to the Office of Technology Transfer at any time. Hard copies of the application should be sent or delivered to:
Sundeep Mattamana, PhD, Sr. Director
All proposals will be evaluated on the following three criteria:
- Technology - Commercial viability of the technology, potential of the proposed project to enhance the value and marketability of the technology, technical soundness, product development plan, and suitability of budget.
- Qualifications of the faculty member and experience in technology transfer and commercialization.
- Commitment of the faculty member and the company to commercialize the technology.