Does the budget need to include indirect costs?
- No, only direct costs should be included.
What are the allowable costs for the budget?
- Staff and technician salaries are allowable at the fringe rate, however Faculty/PI salaries are not.
- Other allowable expenses include supplies, equipment, prototype development and other misc. costs that further the commercialization of the innovation.
Does the Innovation Institute offer mentoring to support the application process?
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.
- If the University licenses or commercializes any intellectual property, the awardees considered to be inventors, creators, or developers will receive a share of proceeds consistent with the terms of the University of Pittsburgh Patent Rights and Technology Transfer Policy (11-02-01) or Copyright Policy (11-02-02), as applicable.
- For awarded projects, Philips has a right of first refusal to option/license the technology. Invention Invention Disclosures must be filed with the Innovation Institute for all submitted applications.