One of the key challenges in commercialising University research is access to the early stage funding necessary to take a novel idea to an early stage of proof - thereby validating the commercial potential in order to attract additional investment. To overcome this funding challenge, the University has developed a ‘Proof-of-Principle’ (PoP) programme to support projects with significant potential to deliver economic impact.
The award is intended to move the projects to the next stage of proof. For example, to develop an early prototype, more in-depth market understanding or the generation of additional data to support validation of the idea. The focus of the fund is to provide short-term investment to develop early stage ideas, where there are some preliminary findings, but no clear route to the marketplace. The fund would act as a primer for InvestNI Proof of Concept investment or RCUK Follow-On funding. The programme has been designed to help you prepare your knowledge and technology for commercialisation. The programme is not intended to support research projects for which no preliminary findings have been generated, but is designed to help academics demonstrate the potential for economic impact of a new concept, technology or invention and to highlight the need for and type of additional development support that would be required to take the technology closer to the market place.
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