Information for Inventors > Seed Fund

Seed Fund Program

UTMB invites applications for the Center for Technology Development 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.

Seed Grant Application

Program Policies and Application Instructions

Scope of the Program:
Funds may be utilized for direct expenditures beneficial to the commercial development of technology and start-up formation in the following allowed categories under this program:

a) Legal costs associated with company incorporation
b) Business plan preparation
c) Market analysis
d) Intellectual Property Analysis (freedom to practice)
f)  Proof of Concept and Feasibility Studies
g) Prototype Development and Testing
h) Developmental Research

  Funds may not be budgeted or used for the following:

• Faculty salaries
• License or patent prosecution fees
• Travel
• Building construction, alteration, renovation, rent, or utilities
• Student tuition or fees
• Student Scholarships or Fellowships
• Membership dues
• Research not identified in the proposal

Eligibility:

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 Center for Technology Development personnel to discuss their proposal prior to preparation and submission.  Applications and proposals may be submitted by faculty members to the Center for Technology Development at any time.  Hard copies of the application should be sent or delivered to:

Jim Arie, Ph.D.  Director, Center for Technology Development

Each application submitted to this program will be reviewed by the Director of the Center for Technology Development.  Proposals fulfilling all requirements and recommended as meritorious, will be reviewed by an Advisory Committee appointed by the President.  The Committee is comprised of university leaders who are not directly involved with the technology or start-up entity. The Committee may request an interview with the applicant before making a decision on the proposal.  Final decisions for all awards will be made by the President.

All proposals will be evaluated on the following three criteria:

    1. 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. 

    2. Qualifications of the faculty member and experience in technology transfer and commercialization.

    3. Commitment of the faculty member and the company to commercialize the technology.

Reporting Requirements:

The Principal Applicant on the application will be responsible for monitoring the grant deliverables, progress of the project, and providing quarterly status updates and a final report.  Reports should include current status of the project, resources committed and the benefit of the results to commercialization. The final report is due 45 days after the termination of the project.

Award Amounts and Payments:

This program is intended for seed funding and should be treated as a loan by the start-up company. It is anticipated that a project will be funded at specific amounts needed up to $50,000 in the beginning.  This amount may vary depending on the quantity and quality of the proposals received. Awarded funds will be provided at a predetermined schedule to the start-up company. The distribution of funds will be handled through the Center for Technology Development.  No funds will be distributed until all applicable regulatory requirements have been fulfilled (IRB approval, IACUC approved protocols, biosafety review, safety training, etc.).  Technology license terms and conflict of interest issues should be addressed in the application before funds can be awarded.