Trask Innovation Fund accepting applications from researchers, innovators seeking to advance Purdue intellectual property

WEST LAFAYETTE, Ind. – Purdue University inventors who are prepared to move their innovations to market have until Feb. 15 to apply for funding through the Trask Innovation Fund.

The Trask Innovation Fund is designed to advance the market value of Purdue-licensed intellectual property through short-term research projects. This year, the program is incorporating a new third track called Startup Sparks to emphasize startup-ready technologies.

Here are the three Trask Innovation Fund tracks:

• Innovation Sparks for Life Science and Medical Devices: Eligible innovations are applicable to life sciences and medical devices. Technology must not be under any option/license.

• Innovation Sparks for Physical Sciences: Eligible innovations are applicable to engineering, chemistry, computer sciences and other fields outside of life sciences. Technology must not be under any option/license.

• Startup Sparks: Eligible innovations are applicable to any technology domain if an option agreement has been signed with a potential licensee, or the applicant is establishing a Purdue-affiliated startup and will sign an option agreement.

Over the past 10 years, the Trask Innovation Fund has awarded more than $2.6 million in funding to nearly 70 innovations. Three Purdue researchers received a total of $121,000 from the fund last month.

“We continually see incredible displays of novel and noteworthy technologies by Purdue researchers,” said Abhijit Karve, the senior business development manager for the Purdue Office of Technology Commercialization. “Purdue researchers are creating solutions to a variety of global challenges.”

All Purdue faculty, staff and researchers are eligible to submit proposals. In the proposals, researchers must describe plans to accomplish significant to-market milestones within six months. For more information on Trask Innovation Fund eligibility, visit https://www.prf.org/otc/trask/proposal-guidelines.html.

Submitted proposals will be reviewed by OTC based on criteria including significance of the invention, stage of development, commercialization potential, path to commercialization, intellectual property landscape and applicant’s commitment to commercialization.

Then, select participants will give 10-minute pitches to the Trask Innovation Fund Advisory Council, then the OTC will determine funding recipients. Interested participants should submit their proposal to the Sponsored Program Services Pre-Award Center here.

The Trask Innovation Fund aligns with Purdue's Giant Leaps celebration of the university’s global advancements made in health, space, artificial intelligence and sustainability as part of Purdue’s 150th anniversary. Those are the four themes of the yearlong celebration’s Ideas Festival, designed to showcase Purdue as an intellectual center solving real-world issues.

About Purdue Office of Technology Commercialization

The Purdue Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities. The office is managed by the Purdue Research Foundation, which received the 2016 Innovation and Economic Prosperity Universities Award for Innovation from the Association of Public and Land-grant Universities. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org. For more information on licensing a Purdue innovation, contact the Office of Technology Commercialization at innovation@prf.org.

Writer: Kelsey Henry, 765-588-3342, kehenry@prf.org

Purdue Research Foundation Contact: Tom Coyne, 765-558-1044, tjcoyne@prf.org

Sources: Abhijit Karve, 765-588-3487, aakarve@prf.org