System to Spur Commercial Development with $1 Million Grant Program

Office of Technology Commercialization to administer new program

Written by Dailey Fuller The Texas Tech University System (TTUS) has announced the establishment of a $1 million grant program to provide its researchers with development funding for ‘market-ready’ technologies as a way to expedite inventions in the early stages of commercial development. The commercial development grants were created based on the recommendations of a university study which explored best practices in commercial technology development among some of the nation’s top research universities.  The three-year program is being funded by the Offices of Vice President of Research at Texas Tech University and the Texas Tech University Health Sciences Center. "This program provides a focused effort that will help identify technologies and fund commercial development for some of our best research,” said David L. Miller, vice chancellor for technology commercialization.  “We believe that a small push in the form of a commercial development grant will accelerate development of early-stage technologies and help move them to market more quickly.” Individual researchers at TTUS institutions can receive grants of up to $50,000 for the commercial development of discoveries made as a part of their campus research activities.  The early-stage investment in the technologies will help researchers attract the interest of private investors, venture capitalists and state and federal agencies.  The grant program will be administered on a quarterly basis through the TTUS Office of Technology Commercialization, and a process will be implemented to review proposals and make grant recommendations based on the commercial potential of the technology.  The funds can be used for non-faculty personnel, equipment, supplies, business plan development and, in some circumstances, patent costs. The TTUS Office of Technology Commercialization works with university researchers to bring their discoveries and inventions to the marketplace.  The office also works to protect the intellectual property developed through university research and brings it to the public through licensing agreements and the creation of start-up companies.   For more information, visit CONTACT: David L. Miller, vice chancellor of technology commercialization, Texas Tech University System, (806) 742-4105.