BioVentures Development Award Program
The BioVentures Development Award Program is a new funding mechanism designed to accelerate the pace of the development of highly innovative technologies and entrepreneurship activity at the University of Arkansas for Medical Sciences (UAMS).
The program provides up to $10,000 or $25,000 per invention and is open to all University of Arkansas for Medical Sciences employees who have submitted an invention to the UAMS Patent and Copyright Committee.
The awards are intended to support the development of technologies that have secured or are in the process of securing Intellectual Property protection, but need additional resources for proof-of-principle support of the technologies.
These milestone-based resources are designed to support additional necessary experiments (in vitro or in vivo), prototype development for devices, computational resources for software development, and other activities that will increase the pace of invention development.
The awards will be made on a rolling basis and will be reviewed by the UAMS Patent and Copyright Committee. All regulatory approval (IACUC, IRB, IBC, etc.) must be received prior to the release of funding.
Tier 1 Inventions (up to $10,000)
Requirements & Eligibility:
- The technology has been presented to the UAMS Patent and Copyright Committee.
- Has received a “Retain Rights and Encourage Further Development” decision.
- The applicant is to present a clear plan for activities that will address identified areas of the new technology that need further development prior to securing Intellectual Property protection.
- The proposed activities do not overlap with the scope of any existing extramural or intramural awards
Tier 2 Inventions (up to $25,000)
Requirements & Eligibility:
– The technology that is in a later stage of development.
– The technology has been presented to the UAMS Patent and Copyright Committee.
– The invention has received a “Provisional Patent” decision, and needs additional development in preparation for a full patent application.
– Applicant is to present a clear plan for activities that will address identified areas of the new technology that need further development prior to securing Intellectual Property protection.
– The proposed activities do not overlap with the scope of any existing extramural or intramural awards.
Click here to learn more about the patent process.
Expectations of Output from a Successful Award Recipient
1. Achievement of the customized milestones created for each awardee.
2. Acknowledgment of this funding in all publications resulting from award funding.
3. Year-end report required for 2 consecutive years; the annual report will be presented to the UAMS Patent and Copyright Committee in person or via virtual meeting.
How to Apply
To submit an application, send a Microsoft Word copy of the full application, which must include the following:
- Application cover page with signatures of the applicant with a copy of the original Invention Disclosure
- An up-to three-page statement of work that the award will fund, with specific aims and milestones to be completed
- Budget justification (NIH format) and Intramural Grant Budget Worksheet.
Click here to download the Cover Page template.
Take into account that the BioVentures Development Award Program only covers direct costs. Indirect costs are not covered.
Keep in mind that the BioVentures Development Award Program only covers direct costs, and no indirect costs will be covered.
Applicants are asked to combine all documents into a single document and email it to Bioventures@uams.edu.