PROGRAM OVERVIEW
The UC Merced Office of Business Development Proof-of-Concept fund supports technology development that is aimed at creating and commercializing new products and services by making investments that range from $5,000 to $25,000.
APPLICATION PROCESS
1. Applications will be evaluated based on eligibility the project’s ability to create a successful prototype to be tested in a defined market and within the requested budget and time frame.
2. If selected, individuals/teams will then be invited to present to an external review committee. This committee will make the final decision to award the team based on the application and presentation.
For more information or questions please contact Cara Baird at cbaird2@ucmerced.edu
AWARD PROCESS AND POST AWARD ADMINISTRATION
The amount of requested funding support cannot exceed a total of $25,000. The Office of Business Development reserves the right to reduce the final amount of funding approved, when making a final determination of grant award. The Review Committee will conduct a final review of 1) proposed milestones, and 2) fit with the requested budget, prior to a final funding decision.
Funds awarded are to be expended within 4 months of receiving the award. Awardees are expected to submit regular reports indicating the progress towards or achievement of milestones. Progress report content and timelines will be discussed and agreed upon prior to the release of funds and at a minimum will include a mid term accounting and progress reoprt, and final reports
As a condition of the award, awardees will be expected to:
- Provide mid term accounting to indicate use of funds on the project in the achievement of project milestones
- Submit a final progress report that includes milestone tracking and a clear accounting of the use of granted funds in the furtherance of the project and achievement of proposed project milestones
- Participate in the UC Merced Venture Lab program.
