External Grant Funding Opportunities for Commercialization of Faculty Innovations
Two key grant opportunities to fund development and commercialization of faculty innovations are the
Illinois Innovation Voucher Program and
STTR and SBIR grants through a particular federal agency (e.g., NIH, NSF).
- The Illinois Innovation Voucher Program supports research collaborations between eligible businesses and Illinois universities, including prototyping, testing, validation, and product development.
- Federal SBIR and STTR programs, offered through agencies such as NIH and NSF, provide non-dilutive funding to eligible small businesses developing innovations with commercial potential. STTR awards specifically support partnerships between small businesses and research institutions.
Because these programs generally require an eligible business applicant or partner, faculty members should coordinate with their university's technology-transfer office early in the process.
Note: STTR and Illinois Innovation Voucher agreements require the parties to establish revenue-sharing and intellectual property terms. Faculty should consult DePaul Tech Transfer before submitting a proposal under either program. Faculty participating in an SBIR proposal should also consult DePaul Tech Transfer if the project will involve DePaul intellectual property, personnel, facilities, or other university resources.