UD Medical Inventors and Entrepreneurs Invited to Apply for DRIVEN Partnership Program
The DRIVEN Accelerator Hub has announced three new funding programs:
The DRIVEN Partnership Program will include a GAP assessment, technology level readiness (TRL) assignment, formation of an action plan, connection of the partners with all DRIVEN contacts and resources and funds for key enabling activities. The program will culminate with the opportunity for the partners to pitch in front of the DRIVEN external committee comprised exclusively of investors (representing over $20B in assets under management) and buy-side business development leaders (cumulative market cap exceeding $700B). All nominees will receive multifaceted and actionable feedback on their business/development plans.
DRIVEN Acceleration Fund ($50k/award hard cap): for early stage companies participating in the DRIVEN Partnership Program (so-called DRIVEN Companies, sourced from Northeastern IDeA states) to accomplish strategic goals, undertake key value-driving experiments, or otherwise increase their risk-adjusted expectation of quality-adjusted life year (QALY) creation. This fund augments the already-successful DRIVEN Partnership Program.
Note: The first step in the application process is applying for the DRIVEN Partnership Program. If selected as a finalist, there will be additional steps, including the submission of a budget.
DRIVEN Ignition Fund ($25k/award hard cap): for innovations or discoveries that need additional experimentation before company formation or out-licensing is warranted. Ignition Fund awardees will not participate in the DRIVEN Partnership Program as the Ignition Fund is specifically for the advancement of pre-company formation discoveries. This fund expands DRIVEN’s ability to engage with its smaller partners, and with earlier-stage academic innovation.
Note: This fund has its own application. If selected as a finalist, there will be additional steps, including the submission of a budget.
- DRIVEN Partnership Program Information Sheet [PDF]
- DRIVEN Partnership Program Application [PDF]
- DRIVEN Ignition Fund Application [PDF]
The deadline for applications is December 16, 2019 by 5:00 p.m. Questions can be directed to Julius Korley, firstname.lastname@example.org.
The DRIVEN Accelerator Hub is a NIH-funded collaboration between top research institutions in the Northeast led by Celdara Medical. It is one of four accelerator hubs across the country designed to provide entrepreneurial educational opportunities and experiences for innovators, and to develop and implement a structural plan to support medical entrepreneurship. The UD component of DRIVEN is being led by principal investigator Julius Korley, director of entrepreneurship and strategic partnerships for the College of Engineering and CEO of Affinity Therapeutics; Steven Stanhope, principal investigator of Delaware Idea Network of Biomedical Research Excellence (INBRE) and associate vice president for research; and Michael Bowman, associate director of the Office of Economic Innovation and Partnerships (OEIP).