PHILADELPHIA -- (October 31, 2016) – The University City Science Center will unveil a new evaluation report of the QED Proof-of-Concept program at the QED Round Seven Showcase on November 2, 2016 at Quorum at the University City Science Center. Closing the Gap: University City Science Center’s QED Proof-of-Concept Program, prepared by the Economy League of Greater Philadelphia, quantifies the performance and impact of the program on the Greater Philadelphia region’s innovation ecosystem.
Report highlights include:
- 90% of QED researchers surveyed report that participating in QED was a valuable experience.
- 90% of industry professionals and institutional administrators surveyed believe that QED helps strengthen Greater Philadelphia’s innovation ecosystem.
- Three out of every four researchers say that QED had helped them better understand Greater Philadelphia’s innovation ecosystem.
Since the program’s inception in 2009, QED has screened 475 proposals from 21 participating academic and research institutions. Of the technologies screened, 94 projects have been accepted into the competitive program and paired with scientists and industry professionals. QED has awarded a total of $4.85 million to 28 projects, primarily in the therapeutic/biologic, device/diagnostic, and digital health sectors. Of these 28 projects, eight technologies have been licensed, while five have gone on to form startup companies. Projects awarded funding by the QED program have raised over $19 million in follow-on funding.
The four researchers who received awards in the seventh round of the QED Program in 2014 will have an opportunity to share their progress over the last two years at the QED Round Seven Showcase.
Round Seven QED Awardees:
Dr. Chao Zhou of Lehigh University is developing a diagnostic instrument that will allow faster, more sensitive eye exams for macular degeneration and glaucoma, improving an approach known as optical coherence tomography (OCT).
Dr. Steven Levison of Rutgers, The State University of New Jersey, is developing a new product for culturing neural stem cells that simplifies and improves the ability of researchers to grow these cells for experimental and therapeutic use.
Dr. William Wuest of Temple University is developing the next generation of disinfectants for a variety of commercial industries including healthcare, transportation, water, and energy.
Dr. Sunday Shoyele of Thomas Jefferson University is developing a product for delivering highly-degradable gene inhibitors to cancer and other cells using antibody-based nanoparticles.
5:00 - 5:30 PM – Registration and networking
5:30 - 5:40 PM – Welcoming Remarks and QED Impact Study Highlights
5:40 - 5:50 PM – Round 7 Awardee Presentations
5:50 - 7:30 PM – Networking and refreshments among Round 7 Awardee Exhibit Tables
The QED Program provides business development support and critical funding for academic researchers developing early-stage life sciences and healthcare IT technologies with high commercial potential. The program’s primary goal is to reduce commercialization risk in early-stage projects, thus increasing their attractiveness to,established companies and private investors.
QED has received support from the U.S. Economic Development Administration, the Commonwealth of Pennsylvania’s Ben Franklin Technology Development Authority, 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 University City Science Center is a dynamic hub for innovation, and entrepreneurship and technology development in the Greater Philadelphia region. Founded in 1963 as the nation’s first urban research park, it provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. Graduate firms and current residents of the Science Center’s business incubator support one out of every 100 jobs in Greater Philadelphia and drive $12.9 billion in economic activity in the region annually. 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.