Technology Acceleration & Commercialization (TAC) Awards Announcement
As part of New York University's commitment to research excellence, technology transfer, and entrepreneurship, we are pleased to announce the establishment of and initial call for proposals for the Technology Acceleration & Commercialization (TAC) Awards.
The purpose of the Awards is to encourage and promote the development of research projects and technologies that have the near-term potential for commercialization through start-up creation or licensing. The Awards will support projects from NYU's Washington Square, Dental School, and NYU-Poly campuses.
Applicants may request up to a maximum budget of $50,000 in direct costs. Funding is ordinarily for one year and is non-renewable. Successful applications should relate to technology for which intellectual property has been obtained or will be sought by NYU, and should seek to advance the commercial development of the technology through prototype development, proof-of-concept studies, etc.
A similar program has existed at the NYU School of Medicine for a number of years, and has generated a return of approximately 12:1 in terms of royalties and industry research support from the subsequent commercialization of technologies supported by the fund, while developing products to benefit patients.
To be considered for this annual round, please submit a one page preliminary proposal to the Office of Industrial Liaison (OIL) by July 1st, 2013. The proposal should summarize the technology, its applications and commercial potential, the work to be done under the project if funded, and the expected outcome. Following review for scientific merit and commercial potential, selected applicants will be invited to submit full 3-5 page proposals. Funding is expected to start October 1.
About Technology Transfer at NYU
The mission of the Technology Transfer program at NYU is to promote the commercial development of NYU technologies, into products to benefit society, while providing a return to the University to support its research and education missions. NYU has one of the most successful track records of commercializing technology of any university, with 25 products based on NYU technology having been brought to market to benefit society and over 80 start-up companies having been created. Products developed include drugs for the treatment of cancer, arthritis, and psoriasis, numerous medical and dental devices and diagnostics, and electronics and software technologies. Numerous additional products are currently under development by licensees and start-up companies, including semiconductors, electronic systems, software, agricultural, medical, and dental products.
The annual number of new inventions generated by faculty has more than doubled since 2000, and the number of new license agreements signed with companies each year has more than tripled. Over the past 5 years, NYU has generate more start-up companies based on licensed technology per dollar of research expenditures, than MIT or Stanford, and almost twice the national average, and has ranked first in overall license income generated from successful technology commercialization. Revenues generated from technology commercialization are shared with the inventors under the NYU Patent Policy, which is one of the most generous in the country, and the remainder is devoted to supporting the research activities of the University.
The Office of Industrial Liaison, part of the NYU Provost's Office, is responsible for managing activities relating to the protection and commercial promotion of inventions made at New York University, as well as research collaborations with industry.
Faculty, staff, and students whose research may lead to new discoveries or products are encouraged to contact the Office of Industrial Liaison as early as possible, to discuss their work. Under patent laws, patent applications must be filed prior to any publication or presentation of the invention to avoid loss of rights. By contacting the Office early, patent protection can be sought if appropriate, without delays in publishing and presenting new results.
Senior Vice Provost for Research
Abram M. Goldfinger
Executive Director, Industrial Liaison/Technology Transfer