The purpose of the Fund is to assist faculty and the OTCV offices with the commercial development of important technologies discovered on our campuses. The Fund was initially created as part of the University’s science and technology activities and as part of OTCV’s desire to increase licensing income, startups, and entrepreneurism at UMass.
These funds are to be awarded through a competitive process to researchers who have invented or developed concepts, goods or services that have commercial potential. The grant is intended to move technologies to the proof of concept stage or to allow the investigator to take other critical steps to make the technology attractive for licensing or other forms of commercialization. The Fund is NOT intended to support basic research, but rather close the gap between the research discovery and proven technology.