From the formula that shepherded Crest toothpaste to a new method of detecting chemical evidence from surfaces, Indiana University researchers have a long history of inventions that improve health and change lives. To continue groundbreaking discovery, the IU Innovation and Commercialization Office has awarded three researchers $25,000 each from its Gap Fund, which supports projects and enhances the commercialization of faculty innovations.
The Innovation and Commercialization Office works closely with faculty, industry and Indiana’s entrepreneurial community to move innovations from IU research into the marketplace, where they can create lasting societal impact. Over the past 15 years, IU has received 2,675 disclosures, resulting in 1,340 issued patents generating 559 licenses, 71 startups and $113 million in revenue.
The Gap Fund, a Translational Research Grant Program, is designed to overcome commercialization barriers by boosting the development’s marketability through additional targeted research. After some academic inventions surpass typical research phases, it can be difficult to obtain support through traditional funding mechanisms. The fund will help cover costs of equipment, supplies and other materials researchers may need to strengthen their innovations and demonstrate their utility to potential licensees and investors.
“These awards present a great opportunity for researchers to advance their technologies toward the market,” said Nick Hammond, IU associate vice president for innovation and commercialization. “We look forward to these projects moving technology forward and supporting the Innovation and Commercialization Office’s commercialization and licensing efforts.”
Full story: 3 faculty awarded IU grants to move inventions toward the marketplace: IU News
