PHILADELPHIA -- (May 19, 2017) – The University City Science Center is seeking proposals for its QED Proof-of-Concept Program. Academic researchers with technologies ripe for commercialization, and who are affiliated with the 21 partner academic and research institutions in Pennsylvania, New Jersey and Delaware, are encouraged to submit proposals. QED, now in its tenth round, is the first multi-institutional proof-of-concept program for the life sciences and healthcare IT. The program provides academic researchers with mentoring, business advice, and in some cases, funding to commercialize their early-stage technologies.
The QED Selection Team comprised of industry experts and investors will select 10-15 applications as program participants. Program participants will be paired with Business Advisors and work to develop proof-of-concept plans to commercialize their technologies. Up to four projects will receive up to $200,000 each for technical proof-of-concept validation over a 12-month period.
Funding for each project is contributed equally by the Science Center and by the researcher’s home institution. Ownership of all intellectual property is retained by the research institution and transitioned into licensing opportunities or new ventures according to institutional policies and commercial interest.
Early submission for proposals is June 2. Researchers submitting proposals by this deadline will receive feedback from the Science Center and have the opportunity to revise and resubmit their proposals. The final submission deadline is June 29.
Since the program’s inception in 2009, QED has screened 539 proposals from 21 partner academic and research institutions. Of the technologies screened, 105 projects have been accepted into the competitive program and paired with Business Advisors. QED has awarded a total of $5.45 million to 31 projects, primarily in the therapeutic/biologic, device/diagnostic, and healthcare IT sectors. Of these 31 projects, nine technologies have been licensed, while six have gone on to form startup companies. Projects awarded funding by the QED Program have raised over $19 million in follow-on funding.
QED has received support from the U.S. Economic Development Administration, Pennsylvania Department of Community and Economic Development, the Commonwealth of Pennsylvania’s Department of Health, the Philadelphia Industrial Development Corporation, William Penn Foundation, and Wexford Science and Technology.
About the Science Center
Located in the heart of uCity Square, the Science Center is a mission-driven nonprofit organization that catalyzes and connects innovation to entrepreneurship and technology commercialization. For 50+ years, the Science Center has supported startups, research, and economic development in the life sciences, healthcare, physical sciences, and emerging technology sectors. As a result, graduate firms and current residents of the Science Center’s incubator support one out of every 100 jobs in the Greater Philadelphia region and drive $13 billion in economic activity in the region annually. By providing resources and programming for any stage of a business’s lifecycle, the Science Center helps scientists, entrepreneurs and innovators take their concepts from idea to IPO – and beyond. For more information about the Science Center, go to www.sciencecenter.org
About the QED Program
The QED Program was launched in April 2009. A common participation agreement that defines matching funds, indirect costs, and intellectual property management, has been signed by 21 universities and research institutions in Pennsylvania, New Jersey, and Delaware: The Children’s Hospital of Philadelphia, Delaware State University, Drexel University, Fox Chase Cancer Center, Harrisburg University of Science and Technology, Lankenau Institute for Medical Research, Lehigh University, Monell Chemical Senses Center, New Jersey Institute of Technology, The Pennsylvania State University, Philadelphia College of Osteopathic Medicine, Philadelphia University, Rowan University, Rutgers University, Temple University, Thomas Jefferson University, University of Delaware, University of Pennsylvania, University of the Sciences in Philadelphia, Widener University, and The Wistar Institute.