How To Apply for Funding

The TechForward program funds two seed translational research projects (STRP) per year, up to $270k per project. Even if you don’t receive funding, we provide resources to help you understand how to translate your research to society.

Application process and key dates:

  • September 9th, 2024 - Declare your intent to apply by submitting an interest form.

    • We encourage you to submit an invention disclosure tied to your translational research project before the submission deadline.

    • If you would like our help to meet the eligibility requirements for your IL-TechForward grant application, please let us know in the interest form.

  • December 11th, 2024 - Application for the TechForward STRP award is due.

  • January 6th, 2025 - Our internal selection committee will select the top five candidates

  • March 7th, 2025 - Two proposals will be granted a TechForward award. The Genisys fellows will prepare investment memos for the top five projects, and present their recommendation to the selection committee composed of Illinois Tech representatives and the research commercialization council. Your team will also pitch your proposal to the selection committee.

Eligibility Criteria for ART IL-TechForward Funding

To qualify for ART IL-TechForward funding, translational projects must meet the following criteria:

    • Projects must have a clearly identified plan to develop the technology to a Technology Readiness level of 5 (“TRL 5”) within the two-year budget period. 
      Technology Readiness Levels

    • Projects must outline a strategy to achieve a commercial milestone that demonstrates market traction within the two-year budget period.

    • Projects must address a societal challenge of national significance.

    • Projects must have a diverse team with capabilities and lived experiences suited to execute the goals outlined in the proposal.  

    • The core team must include at least one woman and one person who is Black or Hispanic whom will be paid through the award.

    • Proposals must demonstrate that the team has validated the need and problem-solution fit with prospective customers.

    • Projects must be able to raise a minimum of $100,000 in matched funds (for example via SBIR/STTR, angel investors, and/or customer contracts) for the second year or achieve the desired outcomes with 50% of the allotted $277,000 budget.

    • Projects must have identified at least 4 advisory board members (2 technical, 2 commercial) with experience in the market they hope to enter. 

    • Advisory board members will be responsible for approving 6-month plans and budgets and supporting the team in meeting their goals.

These criteria ensure that funded projects have the potential for significant impact, a clear path to commercialization, and a commitment to diversity and societal relevance.

Instructions for Proposal Development

To qualify for ART IL-TechForward funding, translational projects must meet the following criteria:

  1. 5-page (max) proposal should include the following:

    • Vision and broader impact:

      • How will your translational research address a societal challenge of national significance? 

    • Description of your seed translational research project (STRP):

      • What is unique about your innovation and what utility do these unique features have? Please include a reference to a patent* if applicable.
        *To qualify for funding through this award, you must have had a discussion with the tech transfer office to assess whether there is intellectual property tied to your solution.

      • Project maturity: What is the technology readiness level of your translational research project? Please include your TRL assessment and include data supporting your scores. Please reach out to us if you need help with this assessment.

    • Customer and Market validation:

      • Describe the customer for your solution. Please include a prospect customer pipeline (including job titles, company names, and what you have learned from your interviews.)

      • What job are you allowing your customer to perform with your solution?

      • Why would your customer choose your solution over existing alternatives? In other words, what is the benefit of using your solution instead of continuing to use their current solution?

      • What is the business model for this solution and the opportunity size?

    • Team: Why are you the right team to launch this business?

    • Go to market plan: Your 2-year objectives and key results. Given that the goal of this award is to translate your research to society, we recommend setting technology development and commercial objectives.

  2. Two (2) year plan and budget: Draft 6-month milestones that will help you meet the outcomes you wish to meet in a 2-year time frame. Include a budget (split into 6-month increments) required to accomplish your goals. Budget must be in an excel spreadsheet.  If you need more than $150k to accomplish your goals, please include the name of an investor/funding agency and program/customer who will match the funding you receive in year two. 

  3. Letter of Support (only required for those seeking a second year of funding)

  4. Description of your team and prospect advisory board members

    • Share the names of all team members and the work they plan to do for the duration of the award. It is a requirement that you have a diverse team with all the skill sets required to execute on your two-year plan. Please include resumes for key team members and justify their roles on the project.

Scoring Criteria

  1. Societal Impact: Potential for the proposed activity to benefit society or advance desired societal outcomes.

  2. Technology Innovation and Competitive Positioning: Evidence that the solution is unique, novel and non-obvious, and competes with existing alternatives. *Preference given to seed translational research projects associated with the University's Intellectual Property.

  3. Technology Readiness: Assessment that a Technology Readiness Level (TRL) of 5 can be accomplished in 2 years based on the proposed plan.

  4. Customer and Market Validation: Substantial evidence that the proposed solution addresses a market need.

  5. Team: Evidence that the team (1) is diverse in terms of race and gender, (2) demonstrates commercial and technology development skills required to translate the proposed research technology to market, (3) is committed to driving the opportunity; evidence that the selected advisors address the skills gaps on the team.

  6. Go-To-Market Plan and Appropriate Use of Funds: Proposed milestones are aligned with the right priorities for the project given its maturity and allocation of the proposed budget is appropriate.

Responsibilities of Awardees

If your research project is chosen to be funded, there are several responsibilities you will be required to complete.

These responsibilities include:

  • Commitment to attend three meetings with Genisys fellows, from January to March of 2025

  • Sound fiscal management of budget

  • Quarterly meetings with the advisory board and TechForward team, where translational lead shares progress against milestones and the plan for the next ones. (Every six months, budgets are approved and revisions can be made.)

  • Participation in support programs and mentoring sessions as needed

  • Postdocs and graduate students involved in commercialization engage in mentoring plan

Frequently Asked Questions

  • A translational research project involves applying findings from basic scientific research to create practical applications that can benefit society. The goal is to bridge the gap between laboratory discoveries and real-world applications, such as new climate tech solutions, clinical treatments and therapies, high performance computing software and hardware innovations, etc.

  • You can spend the funds hiring a team (graduate students, post docs, community members including entrepreneurs and service providers) to perform the translational work that you will outline in your 2-year plan. Activities may include (1) scaling or de-risking the technology past proof of concept and (2) engaging in commercialization activities including customer discovery and market research, fundraising, etc. This excludes supporting research in your lab.

  • The TechForward team will support your project no matter what phase you’re in!  

    • Discovery

      • Assessing your invention

      • Expert feedback

      • Finding an industry partner

      • Identifying your customer

    • Team Building and Planning:

      • Teamn building

      • Grant proposal development

      • Applying for funding and support inside and/or outside Illinois Tech

    • De-rising/Commcercialization

      • Recruiting an advisory board

      • Building a customer pipeline

      • Financial planning and fundraising

      • Organizational development (hiring)