The Ivy Biomedical Innovation Fund was created by The Ivy Foundation to support biomedical innovation and translational research projects at the University of Virginia. During this seventh year of funding, the program plans to make 6 to 8 awards averaging $50,000-$80,000 each for 12 months. The requested amount of funding must be commensurate with the project stage and goals. To generate novel and compelling translational ideas, we encourage projects that involve faculty co-investigators from multiple departments, schools, or specialties at UVA.
The goal of this program is to support research projects that address unmet clinical needs and lead to improvements in health care. Examples of desirable outcomes include improved diagnosis and treatment of disease through new medical devices, new biomarkers or diagnostics, new therapeutic targets and agents, or new clinical adoption of existing tools. It is anticipated that most projects will result in new intellectual property, commercial partnerships, or start-up companies.
To facilitate project development and meet the program objectives each funded project will work with the Program Director and a liaison from the UVA Licensing and Ventures Group to advise on business development and commercialization components. In addition project teams will benefit from the feedback, mentoring, and relationship-building provided by the Ivy Biomedical Innovation Review Board.
At least one investigator from each team is required to be permanent, full-time, tenure-track faculty at professorial rank (assistant, associate, or full professor).
Eligible investigators may submit more than one proposal.
Applicants are encouraged to have a clinical investigator (medical doctor, nurse or professional who sees patients).
Proposed research must relate directly to applications in health care, and the objectives of the project should include a long-term outcome that will benefit patients.
Proposal Evaluation Criteria:
Evaluation of each proposal will be based on technical feasibility, clinical merit, potential healthcare impact and significance, experience of the team, and the potential for commercialization and ability to successfully obtain follow-on funding (extramural or foundation grants, industry funding or investor capital).
• Investigators must contact Sharon Krueger (email@example.com) if interested in submitting a proposal.
• Final proposal submissions are due by Noon on Monday November 27th, 2017 via e-mail to Sharon Krueger at: firstname.lastname@example.org.
• Confirmation of final proposal submission will be provided via email.
• The Ivy Biomedical Innovation Fund Review Board will review the final proposals submissions and select proposals for oral presentations the week of December 18th, 2017.
• Finalists will give an oral presentation to the Ivy Biomedical Review Board during the third week of January, 2018. Funding will begin in February 2018.
• Applications should not exceed six pages, excluding cover page, budget page, and two-page CVs from the co-investigators. Use Arial font of 11-12 point size.
• The cover page must contain the project title, names of the investigator(s), amount requested, a one-paragraph summary, and the approval/signature of the department chair(s). Signatures can be scanned.
• Approvals for animal and/or human subjects (if needed), will be required after awards are announced.
Final proposals will include these components:
• Unmet clinical need
• Market potential
• Specific research milestones and the plan for achieving them. Make sure you identify the “killer” experiment
• Explanation of clinical relevancy of research (e.g., envisioned product, clinical need)
• Current intellectual property status, commercialization strategy to advance the technology into the market and/or clinical adoption, and the FDA plan and timeline if relevant
• Plan for obtaining follow-on funding after Ivy Biomedical Innovation grant award expires
• List of relevant current funding and pending proposals for each co-investigator
• Budget page
Grants will be awarded for a one-year period. Awardees from previous funding cycles are eligible to apply and competitive renewal applications should include a comparison of milestones achieved vs. those planned in the original submission.
Eligible budget items include salary support (faculty, graduate students, and other research staff), operating supplies, minor equipment items, prototyping expenses, imaging time and
travel directly associated with the research activity. Funds cannot be requested or used for F&A costs, administrative support or tuition.
Award recipients are required to prepare short quarterly progress reports and a final report. In addition, all funded projects will give mid-year oral presentation to the Ivy Biomedical