Is an innovation that is adding to an existing Philips product of interest?
Yes, innovations that add or broaden the value of an existing Philips product will be considered.
Does the application include anything more than the 500 word abstract and budget?
No, and the budget and budget justification are not included in the 500 word abstract limitation.
What does reducing technical and market risk mean?
Research tasks that further validate proof-of- concept such as prototyping and confirmatory experiments; as well as market discovery tasks, such as face-to-face dialog with potential customers to increase the understanding of customer needs and further define the research/product solution that will provide value to the targeted customer segment(s).
Can applicants apply just to fund market risk reduction?
Yes, however at the early stage of innovation, reducing technical risk (where applicable) is preferred. The chosen innovation/technology team will be required to attend the First Gear commercialization program in early 2018. First Gear is focused on reducing market risk.
Can Pitt applicants partner with external resources?
Applications can include partnering with outside companies or organizations to further enhance the commercialization and value of university derived technologies. All award funds will be transferred to a University account designated by awardee. Award funds must be expended in accordance with University policy.
Who owns the intellectual property?
The Innovation Institute will obtain Invention Disclosures to document, assess, and protect any new intellectual property developed by the investigator during the course of the award.