$50,000 available from Trask Innovation Fund to enhance Purdue intellectual property

WEST LAFAYETTE, Indonesia – The inventors of Purdue University can receive up to $ 50,000 from the Trask Innovation Fund to further develop their innovations. The Foundation supports short-term projects that enhance the commercial value of Purdue’s intellectual property. Inventors must apply by February 18th.

Teachers, staff and researchers from all Purdue campuses who have submitted disclosures to the Purdue Research Foundation’s Technology Commercialization Division are eligible. They should work with their office to submit a proposal, and are encouraged to speak with OTC business development managers for guidance. Instructions for qualifying and submitting online.

Proposals will be considered by the OTC based on the significance of the invention, the stage of development, the potential for commercialization, the path to commercialization, the landscape of intellectual property and the commitment of the applicant to commercialization. Since the spring of 2018, 33 projects have received funding of more than $ 1.2 million.

There are three tracks of the Trask Innovation Fund:

Innovative sparks for life science and medical devices. Acceptable innovations are the sciences of life and the application of medical devices, including, but not limited to, therapies, drug discovery and development, diagnostics, and agriculture. The technology should not be under any option or license.

Innovative sparks for the physical sciences. Acceptable innovations are applications in engineering, chemistry, and computer science and other fields outside of life sciences. The technology should not be under any option or license.

Spark Commercialization Partner. Technology in any domain is accepted if OTC has signed an option agreement with a potential licensee or the applicant is working with the PRF to establish a commercial partnership and sign an option on the technology before receiving Trask funding.

Abhidjit Karwe, OTC’s Director of Business Development, explained how the Trask Innovation Fund complements the work of OTC staff.

“The Foundation supports the move to move innovation from a concept or even a first prototype to a more mature, proven innovation,” Carve said. “This move strengthens the OTC’s ability to apply for intellectual property protection, market and even licensed innovations so they can reach the public to improve people’s lives.”

About the Purdue Research Foundation Office of Technology Commercialization

The Purdue Research Foundation’s Technology Commercialization Office manages one of the most comprehensive technology transfer programs among leading U.S. research universities. The services provided by these offices support Purdue University’s economic development initiatives and benefit the University’s academic activities through Purdue’s commercialization, licensing and protection. intellectual property. The office is located at the Center for the Convergence of Innovation and Cooperation in Discovery Park, Purdue, near the Purdue campus. In fiscal year 2021, the agency announced the conclusion of 159 deals with signed 236 technologies, received 394 disclosures and 187 issued patents in the United States. The office is managed by the Purdue Research Foundation, which received the 2019 University of Innovation and Economic Welfare Award for a place from the Association of Public Universities and Land Allocation Universities. In 2020, the IPWatchdog Institute ranked Purdue third in startup and in the top 20 in patents. Purdue Research Foundation is a private non-profit foundation set up to promote Purdue University’s mission. Contact otcip@prf.org for more information.

Writer: Alicia South Hert

Contact the Purdue Research Foundation: Steve Martin, sgmartin@prf.org

Source: Abhidjit Karve, aakarve@prf.org

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