Proof of Concept (POC)
The Proof of Concept Awards Program was launched by the UIC Office of Technology Management (OTM) in early 2012 to facilitate the delivery of talent, innovations, and resources from UIC to the local community. In order to further the objective of the POC Awards Program, the Chancellor’s Innovation Fund (CIF) was established by the UIC Office of the Chancellor in 2013. The CIF is managed by Illinois Ventures, the venture capital arm of the University, in partnership with the UIC Office of Technology Management to bridge a gap between basic research and commercialization.
Through the UIC Chancellor’s commitment, funds will be available to support proof of concept for innovations emanating from UIC faculty, staff and students. Selected proposals will receive initial funding of up to $50,000, with the potential to apply for up to an additional $150,000 to develop research projects with commercial potential. Final award amount will be determined by the scope of work and contingent upon successful completion of milestones developed according to input from selection committees.
Through the Proof of Concept (POC) Awards Program the UIC Chancellor’s Innovation Fund aims to accelerate the commercialization of technologies being developed at UIC by helping to bridge the funding gap that often exists between translational research and commercialization. The outcome of a POC award is to demonstrate commercial viability and position the technology for industry or investor engagement.
Applications must be received no later than August 23, 2019 at 5:00pm CST. Instructions on submitting a Pre-Proposal Application can be found at the UIC Chancellor's Innovation Fund website at cif.uic.edu. All Applications must be sent to firstname.lastname@example.org.
To be eligible for Proof-of-Concept Funding, a proposal must be based on a technology disclosed with the Office of Technology Management (OTM). Forms and instructions on disclosing a technology can be found here: OTM Submit your idea. Any questions, please contact a tech manager.
What is the Chancellor's Innovation Fund
The Chancellor’s Innovation Fund has been established at UIC in partnership with IllinoisVENTURES with a goal to position UIC as a leader in technology acceleration. The innovation fund links emerging technologies, federally funded innovation grants, alumni, donors, corporations, investors and the greater community. The fund provides milestone-based funding to improve commercialization potential and invest in UIC startups to accelerate innovation. To learn more about the Chancellor’s Innovation Fund, and to stay updated on new developments and annoucements, please check out their website: cif.uic.edu
Important Dates for 2019 Fall POC Awards Program
July 12, 2019 – Application for Pre-Proposals opens
August 23rd, 2019 – Pre-Proposals Due
Week of October 6th, 2019- POC Finalists Announced
Week of December 8th, 2019 – Final Pitch Day
Week of December 15th, 2019 – POC Winners Announced